The idea that the size of managed capital intrinsically limits sustained alpha is a persistent noise in markets. Berkshire Hathaway, with its 19.7% compound annual growth over six decades, demonstrates that disciplined management and strategic capital allocation can transcend this supposed limitation. Opportunities change in nature with size, shifting from small caps to strategic acquisitions and significant holdings, which does not eliminate value. The ability to identify quality assets remains the controllable factor, as illustrated by the acquisition of Burlington Northern Santa Fe. It is crucial to distinguish external constraints from internal management skills.