The Berkshire Archive

1988

Index Book About

Berkshire Hathaway · Year by year

1988

Annual percentage change
Measure 1988
Per-share book value of Berkshire 20.1
Market value of Berkshire 59.3
S&P 500 with dividends included 16.6
Where 1988’s change in book value came from
Where the change came from — points of per-share book value

Assets

  • Cash7.6
  • Fixed income52.2
  • Common stocks102.4
  • Financial products2.4
  • Other net assets7.1

Funded by

  • Net worth100.0
  • Debt13.8
  • Insurance float42.1
  • Deferred tax float15.8
What the company was made of — percent of net worth. Every dollar of net worth carried $1.72 of assets.

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

What happened

The 1988 letter

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