Subject: Re: 2025 and 2000-2025
Well done.

I didn't start tracking book value* of the household in earnest until the beginning of 2007 so have only 19 years of data. In the first 18 of that, I had a book value CAGR of 18.1%, and am very happy with that outcome, which is roughly 6% higher than the S&P. Last year was behind the S&P which was fine, as I retired almost at the start of 2025, and not chasing beating the index any longer.

Here's to great outcomes in 2026, but I'm thinking "modestly decent" is the most likely outcome given the very high PE of equities across the board.

*I wish BRK would go back to that, or do that and market cap, but I'm not on that committee...