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Berkshire Hathaway

Berkshire Hathaway. Early Partnerships. These lasted from 1959 to 1969 The average return for the partners in these funds was 25.3% and his return was 31.6% annualized. A Different Style: One Example. Sanborn Map Had $65 a share in investments (Bonds, Etc.) Was selling at $45

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Berkshire Hathaway

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  1. Berkshire Hathaway

  2. Early Partnerships • These lasted from 1959 to 1969 • The average return for the partners in these funds was 25.3% and his return was 31.6% annualized

  3. A Different Style: One Example • Sanborn Map • Had $65 a share in investments (Bonds, Etc.) • Was selling at $45 • A profitable map making business essentially being valued at -$20 a share? • Took a board seat and paid a dividend of the investments and then left the map company behind to continue as it always had!

  4. Berkshire Undervalued? • Buffett has hinted he may consider buying back shares • Some professional investors say it is worth $5000+ for the B shares • What do you think?

  5. A Brief Valuation • Earned approximately $5,600 per share before taxes in 2008 • Reasonable Multiple :12 • Value of Berkshire’s operating businesses: $67,200 • Investment Value as of Dec. 2007: $90,343 • Total Value: $157,543 per share • This is a bit dated but it could be applied today with new numbers • Annual report will be out soon! • This valuation is from an August 2008 Kiplinger’s Mag.

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