Unofficial educational project

Berkshire Letter Explorer

Explore Berkshire Hathaway's shareholder-letter archive, concise lessons, and a sourced $100 growth comparison from 1977 onward.

Official Berkshire archive

Berkshire vs. S&P 500: $100 from the start of 1977

The chart uses Berkshire per-share market-value percentage changes and S&P 500 returns with dividends included from the official 2024 letter. Values are nominal, before fees and taxes, and rounded only for display.

Show annual data table
YearBerkshire returnS&P 500 returnBerkshire valueS&P value

Letters

    Methodology and boundaries

    This site links to official Berkshire sources and stores only original summaries, lessons, citations, and structured return data. It does not mirror full annual letters or PDFs. It is unaffiliated with Berkshire Hathaway and is not financial advice.