The Berkshire Archive

1973

Index Book About

Berkshire Hathaway · Year by year

1973

Annual percentage change
Measure 1973
Per-share book value of Berkshire 4.7
Market value of Berkshire (2.5)
S&P 500 with dividends included (14.8)
Where 1973’s change in book value came from
Where the change came from — points of per-share book value

Assets

  • Cash4.0
  • Fixed income106.8
  • Common stocks58.4
  • Financial products29.0
  • Other net assets35.9

Funded by

  • Net worth100.0
  • Debt28.4
  • Insurance float101.1
  • Deferred tax float4.5
What the company was made of — percent of net worth. Every dollar of net worth carried $2.34 of assets.

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

What happened

The 1973 letter

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