The Berkshire Archive

1976

Index Book About

Berkshire Hathaway · Year by year

1976

Annual percentage change
Measure 1976
Per-share book value of Berkshire 59.3
Market value of Berkshire 129.3
S&P 500 with dividends included 23.6
Where 1976’s change in book value came from
Where the change came from — points of per-share book value

Assets

  • Cash2.3
  • Fixed income73.0
  • Common stocks104.0
  • Financial products16.8
  • Other net assets11.2

Funded by

  • Net worth100.0
  • Debt17.0
  • Insurance float72.6
  • Deferred tax float17.7
What the company was made of — percent of net worth. Every dollar of net worth carried $2.07 of assets.

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

What happened

The 1976 letter

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