I wonder if Buffett could beat proprietary shops like Jane Street, or even super elite algorithmic funds like Renaissance, Millennium Fund, or TGS. There's still alpha to be had.
I have been working well over 40 hours per week on startups for several years with nothing to show for it at all.
But 5 years ago, I also bought a bit of fake Internet money, and it somehow became 10x more valuable last December with zero effort involved whatsoever.