Found via GuruFocus.
It’s down 94%. But the economy has gone on. The S&P, I guess you could have adjusted it for inﬂation. I don’t have that. That six cents kind of tells the story, the dollar is down by 94% but we’re still all here.
Most of our companies — if you go back to Warren’s seminal article in Fortune, ‘‘How Inﬂation Swindles the Equity Investor,’’ we think the great majority of the stocks that we own ﬁt that bill perfectly.
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