Subject: Re: The Magic Of Berkshire...
Your #'s include pre-bear market and post bear market recovery years. (Different yardstick.)

Fact remains...

"Not only has Berkshire Hathaway approximated the performance of the S&P 500 in recent years, it has also performed as a counter-cyclical asset in each of the years that the S&P 500 registered negative total returns."

"In 2000, 2001, 2002, 2008, 2018 and 2022, bear markets the S&P 500 had an average return of -17.1% as compared to +7.2% for Berkshire Hathaway."

https://blog.umd.edu/davidkass...