The Berkshire Archive

1974

Index Book About

Berkshire Hathaway · Year by year

1974

Annual percentage change
Measure 1974
Per-share book value of Berkshire 5.5
Market value of Berkshire (48.7)
S&P 500 with dividends included (26.4)
Where 1974’s change in book value came from
Where the change came from — points of per-share book value

Assets

  • Cash5.5
  • Fixed income110.6
  • Common stocks52.2
  • Financial products29.3
  • Other net assets46.3

Funded by

  • Net worth100.0
  • Debt28.6
  • Insurance float111.3
  • Deferred tax float4.0
What the company was made of — percent of net worth. Every dollar of net worth carried $2.44 of assets.

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

The 1974 letter

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