The Berkshire Archive

1985

Index Book About

Berkshire Hathaway · Year by year

1985

Annual percentage change
Measure 1985
Per-share book value of Berkshire 48.2
Market value of Berkshire 93.7
S&P 500 with dividends included 31.6
Where 1985’s change in book value came from
Where the change came from — points of per-share book value

Assets

  • Cash53.0
  • Fixed income24.8
  • Common stocks61.6
  • Financial products1.6
  • Other net assets12.6

Funded by

  • Net worth100.0
  • Debt6.1
  • Insurance float25.1
  • Deferred tax float19.9
  • Other float2.5
What the company was made of — percent of net worth. Every dollar of net worth carried $1.54 of assets.

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

What happened

The 1985 letter

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