Mirror Fund
Categories: Investing, Managed Funds
There used to be a lot of these things when Warren Buffett's public investments comprised most of the net asset value of BRK, Berkshire Hathaway.
BRK had done soooo well as a stock that a lot of people wanted to copy it. So along came a bunch of Baby Berks and other quasi-clones that owned shares of Gillette when it wasn't owned by PNG, shares of the Washington Post before it basically went bankrupt, shares of GEICO when it was independent, etc.
The composite of all these investements was essentially a mirror fund of BRK. And it worked...until BRK grew so large under its various insurance businesses and/or acquired so many non-mirrorable private companies, that the fund was no longer fodder for mirror funds.
So have a Coke and a smile, and note that Buffett owns a ton of KO still to this day.