Indeed, Mr Buffett is one of the great investor of all time & people tend to only remember his past investment return of 20+% return.
However, if we actually look at his return records from year 2003 to 2013, the return he is getting is at 8.49% & the total return is 145%. The S&P 500 actually did better than him.
We have to take note of the amount of capital he is managing now & the current investment environment is totally different from his olden days.
Definitely, being a small investor like ourselves, do have an advantage over the big boys. With good amount of knowledge & skills picking individual stocks or purely buying an index fund, compound it, we could actually accumulate wealth over period of years.