The Berkshire Archive

1972

Index Book About

Berkshire Hathaway · Year by year

1972

Annual percentage change
Measure 1972
Per-share book value of Berkshire 21.7
Market value of Berkshire 8.1
S&P 500 with dividends included 18.9
Where 1972’s change in book value came from
Where the change came from — points of per-share book value

Assets

  • Cash6.6
  • Fixed income112.5
  • Common stocks50.5
  • Financial products29.6
  • Other net assets13.8

Funded by

  • Net worth100.0
  • Debt12.8
  • Insurance float95.9
  • Deferred tax float4.3
What the company was made of — percent of net worth. Every dollar of net worth carried $2.13 of assets.

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

What happened

The 1972 letter

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