The Berkshire Archive

1989

Index Book About

Berkshire Hathaway · Year by year

1989

Annual percentage change
Measure 1989
Per-share book value of Berkshire 44.4
Market value of Berkshire 84.6
S&P 500 with dividends included 31.7
Where 1989’s change in book value came from
Where the change came from — points of per-share book value

Assets

  • Cash4.1
  • Fixed income55.8
  • Common stocks105.1
  • Financial products1.4
  • Other net assets5.5

Funded by

  • Net worth100.0
  • Debt20.1
  • Insurance float29.8
  • Deferred tax float22.0
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 1989 letter

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