Subject: Re: Say it isn’t So
It further occurs to me looking at this that inflation is significant over a 10 year period. A $1 10 years ago is worth $1.37 in todays dollars. Since I am looking back over 10 years without correcting for inflation, converting this into real dollars might change this, but that is a project for another day.

Warren suggested a 5-year test in the past. I believe he meant $1 of retained earnings should create > $1 of market value on a present value basis.