Bill Ackman, the Berkshire Hathaway model is difficult to replicate, mainly due to three points:

First, top investment talent is unwilling to join insurance companies;
Second, there must be sufficient control over publicly listed companies;
Third, the short-term "get rich quick" mentality must be abandoned, and a long-term perspective of decades is required.
The core of this model is to generate float through insurance business, invest 100% of the float in short-term government bonds to ensure safety, and then deploy proprietary capital into quality stocks to build a compounding growth flywheel. #预测世界杯法国VS伊拉克