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.
Some of those stay small, because if they grew large they would distort the market and invalidate their strategies.
So it's not really a way to compound a large (Buffett-sized) fortune. He handily beats almost everyone for total amount of dollars gained per year, if not percentage-wise.
