The assertion that Berkshire Hathaway's historical growth was not compromised by its size does not account for the unique circumstances that enabled this performance. If we were to evaluate whether this model of acquiring entire companies would still be viable for a new fund, we would probably not re-enter this strategy. Market constraints and the lack of opportunities at this scale no longer allow generating such alpha for most managers. For example, even with enormous capital, it is now difficult to find a company like See's Candies at a price that would yield similar returns to those Buffett achieved.