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Stock Analyst Update

Buffett to Berkshire Shareholders: Mea Culpa

Buffett grades his 1999 performance and gives himself a D. He's also considering repurchasing Berkshire shares.


It's a year Warren Buffett and Berkshire Hathaway (BRK.B) shareholders would just as soon forget.

“We had the worst absolute performance of my tenure,” Buffett wrote in Berkshire’s just-released annual report, “and, compared to the S&P, the worst relative performance as well.” The growth in Berkshire’s book value per share--the key measure Buffett uses to assess his company’s performance--grew less than 1% in 1999, compared with a 24% average annual increase over the past 35 years.

Haywood Kelly, CFA has a position in the following securities mentioned above: BRK.B. Find out about Morningstar’s editorial policies.