Warren Buffett：Berkshire Hathaway 1986 Letter, Additional Excerpt 1

Our gain in net worth during 1986 was $492.5 million, or 26.1%. Over the last 22 years (that is, since present management took over), our per-share book value has grown from $19.46 to $2,073.06, or 23.3% compounded annually. Both the numerator and denominator are important in the per-share book value calculation: during the 22-year period our corporate net worth has increased 10,600% while shares outstanding have increased less than 1%.

Source： https://www.berkshirehathaway.com/letters/1986.html
Locator：1986 Chairman's Letter, additional excerpt 1 · Verified：2026-10-19 · Verification：Short excerpt

版权仍存续；仅摘录并链接伯克希尔官网原文，不托管全文。

This text is still in copyright. Only a short excerpt is shown; read the full text at the official link above. Copyright

← Back to the library