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Strategies & Market Trends : ahhaha's ahs

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To: Elsewhere who wrote (1418)3/10/2001 11:43:30 AM
From: ElsewhereRead Replies (1) of 24758
 
A short history of financial euphoria
John Kenneth Galbraith, 1990, ISBN 0-14-023856-5
amazon.com

A good read last night.

The Berkshire Hathaway 2000 Annual Report is out. Just one year ago Warren Buffett was ridiculed for having missed the tech train. Only one of many examples:

Saturday, February 19, 2000
Warren Buffett's vanishing value
Tech aversion has left value investor behind the curve
Paul Kedrosky, National Post

nationalpost.com
[The link no longer works, article available on request.]

One year later, the NASDAQ has declined 60%. Not so BRK: the share price has nearly doubled, profits per share climbed 113% in 2000.

It's fun to read the Annual Report:
berkshirehathaway.com

It contains an explanation of the IBT (the "Inefficient Bush Theory") and many other interesting comments.

Berkshire is now up 207,821% since 1964 vs. the S&P 500 increase of 5,383%.
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