March 1, 2009
There is not much good news being published in the stock and bond markets these days. While I have no idea when the current economic malaise will subside, I do have hope that we are closer to the bottom than the top (although I don’t believe I am able to time the market, so I don’t try).
As a class B shareholder of Berkshire Hathaway stock I haven’t been been totally insulated from market meltdown. I was pleased, though, to see that while the S&P 500 was down 37% in 2008, Berkshire was down “only” 9.6% for a difference of 27.4%.
Since 1966 there are only five years where the S&P has come out ahead of Mr. Buffett. Let’s hope Berkshire keeps up this trend even when the Oracle retires.