Warren Buffett：Berkshire Hathaway 1985 Letter, Additional Excerpt 1

Our gain in net worth during the year was $613.6 million, or 48.2%. It is fitting that the visit of Halley's Comet coincided with this percentage gain: neither will be seen again in my lifetime. Our gain in per-share book value over the last twenty- one years (that is, since present management took over) has been from $19.46 to $1643.71, or 23.2% compounded annually, another percentage that will not be repeated.

Source： https://www.berkshirehathaway.com/letters/1985.html
Locator：1985 Chairman's Letter, additional excerpt 1 · Verified：2026-10-19 · Verification：Short excerpt

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