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Author: rationalwalk Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 214198  
Subject: 13 Years Date: 2/19/2013 5:03 PM
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I've now been a Berkshire shareholder for a few days over thirteen years. My first shares purchased on 2/15/2000, which I still hold, have provided a total return of 229%, or 9.6% annualized. During the same holding period SPY has provided a total return of 28%, or 1.9% annualized.

Book value at 12/31/99 was $37,987 and my guess for Book value at 12/31/12 is $113,000 which is a compound rate of 8.75% so the majority of my return on this initial position is attributable to Berkshire's progress in book value (and intrinsic value) while a small amount involves a minor expansion in the P/B ratio (fwiw, most of my other positions suffer from a contraction in P/B from time of purchase till now).

Over the past 13 years we have seen, among countless other events:
* Collapse of the dot com boom and associated stock market crash.
* Terrorist attacks of September 11, 2001
* Wars in Iraq and Afghanistan
* Real estate bubble and collapse
* Near total collapse of the worldwide financial system
* Most serious recession since the Great Depression
* A second stock market crash in less than a decade

So I'd say Berkshire's results are pretty good overall. Thanks Warren and Charlie!
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