Subject: Re: BRK Expected Returns
Dow Jones Industrial Average
December 31, 1964 874.12
December 31, 1981 875.00

GTR1 can backtest the S&P500 over that period. On a price-only basis {!S5} returned a CAGR of 2.18%; on a total return basis {!S5T}, 6.34%. For what it's worth, equal-weight total return {!S5TE} was 9.89%.

Baltassar