SOPHISTICATED INVESTOR Emperor Buffett has no clothesHis buy-and-hold strategy deprives investors of useful tools By Thomas Kostigen, CBS.MarketWatch.com Last Update: 8:34 PM ET March 15, 2004 SANTA MONICA, Calif. (CBS.MW) -- Warren Buffett may be the most overrated money manager in history. Last year, his investment vehicle Berkshire Hathaway (BRKA: news, chart, profile) (BRKB: news, chart, profile) underperformed the Standard & Poor's 500 Index by nearly 8 percentage points. Some $36 billion of his holdings are in cash, or cash equivalents. He sidestepped the dot.com bubble (and all those gains too). He barely participates in the technology sector (besides a...