The Berkshire Archive

1971

Index Book About

Berkshire Hathaway · Year by year

1971

Annual percentage change
Measure 1971
Per-share book value of Berkshire 16.4
Market value of Berkshire 80.5
S&P 500 with dividends included 14.6
Where 1971’s change in book value came from
Where the change came from — points of per-share book value

Assets

  • Cash8.7
  • Fixed income124.0
  • Common stocks35.3
  • Financial products35.4
  • Other net assets20.6

Funded by

  • Net worth100.0
  • Debt15.2
  • Insurance float102.9
  • Deferred tax float5.9
What the company was made of — percent of net worth. Every dollar of net worth carried $2.24 of assets.

Note: figures in parentheses are losses. Source: Berkshire Hathaway annual reports.

The 1971 letter

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