Warren Buffett Eats Crow (Just Like a Mortal)
Even the best of investors can have a bad year, though I would trade Warren Buffett's year in 2008 for mine in a heartbeat (my total portfolio return did not even match my benchmark as I was down over 40% overall last year. The S&P500 was down 37%). Mr. Buffett was down 9.6% in 2008, recording a rare loss. Still, since 1965 the Berkshire Hathaway fund is up over 20% a year on average. Not bad, and maybe the best of any fund manager alive (though George Soros may have put up better numbers during the same time). Read on for the entire Buffett Annual Letter and see what he has to say about his Good, his Bad and his Ugly.
http://www.berkshirehathaway.com/letters/2008ltr.pdf
For commentary on my own returns and mistakes in 2008, see my post "Projections for 2009"
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Yes but he was down a lot less than everyone else
Even the best of investors can have a bad year, though I would trade Warren Buffett’s year in 2008 for mine in a heartbeat (my total portfolio return did not even match my benchmark as I was down over 40% overall last year. The S&P500 was down 37%). Mr. Buffett was down 9.6% in 2008, recording a rare loss.
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