Assuming 30 trading days horizon, S&P 500 is expected to under-perform the Biglari. In addition to that, SP 500 is 1.17 times more volatile than Biglari Holdings Inc. It trades about -0.05 of its total potential returns per unit of risk. Biglari Holdings Inc is currently generating about 0.01 per unit of volatility. If you would invest  40,416  in Biglari Holdings Inc on May 20, 2013 and sell it today you would earn a total of  32.00  from holding Biglari Holdings Inc or generate 0.08% return on investment over 30 days.