Charlie in his 2014 BH annual share holder letter:
Why did Berkshire under Buffett do so well?
Only four large factors occur to me: (1) The constructive peculiarities of Buffett, (2) The constructive peculiarities of the Berkshire system, (3) Good luck, and (4) The weirdly intense, contagious devotion of some shareholders and other admirers, including some in the press.
These Money Masters' long run investment return is telling us what can we realistically expect from our own long run investment return.
ReplyDeleteTable updated.
ReplyDeleteWarren Buffet performance dropped to 19.4% over 50 yrs (1965 to 2014)
Charlie in his 2014 BH annual share holder letter:
ReplyDeleteWhy did Berkshire under Buffett do so well?
Only four large factors occur to me:
(1) The constructive peculiarities of Buffett,
(2) The constructive peculiarities of the Berkshire system,
(3) Good luck, and
(4) The weirdly intense, contagious devotion of some shareholders and other admirers, including some in the press.