The Berkshire Archive

1981

Index Book About

Berkshire Hathaway · Year by year

1981

Annual percentage change
Measure 1981
Per-share book value of Berkshire 31.4
Market value of Berkshire 31.8
S&P 500 with dividends included (5.0)
Where 1981’s change in book value came from
Where the change came from — points of per-share book value

Assets

  • Cash12.0
  • Fixed income34.9
  • Common stocks108.7
  • Financial products11.7
  • Other net assets12.2

Funded by

  • Net worth100.0
  • Debt16.6
  • Insurance float37.3
  • Deferred tax float14.8
  • Other float10.9
What the company was made of — percent of net worth. Every dollar of net worth carried $1.79 of assets.

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

The 1981 letter

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