Berkshire Hathaway 2008 Letter to Shareholders

The table on the preceding page, recording both the 44-year performance of Berkshire’s book value and the S&P 500 index, shows that 2008 was the…

By the fourth quarter, the credit crisis, coupled with tumbling home and stock prices, had produced a paralyzing fear that engulfed the country. A…

Take a look again at the 44-year table on page 2. In 75% of those years, the S&P stocks recorded a gain. I would guess that a roughly similar…

Most of the Berkshire businesses whose results are significantly affected by the economy earned below their potential last year, and that will be…