October 22, 2026
Even Buffett had losing years
Buffett lost to the S&P 500 in 21 of 61 years. In 1999 the market gained 21.0% and Berkshire fell 19.9%. $1,000 in Berkshire at the end of 1964 was about $61.0 million by the end of 2025. Ever held something that lagged for years?
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