No, those aren't the right figures, both should be a bit lower.

BRK: 468% (12.28%/year = inflation + 9.39%/year)
SPY total return: 634% (14.21%/year = inflation + 11.26%/year)
Advantage SPY by about 1.9%/year.



The average S&P 500 dividend yield has been 1.87% in the last 15 years. Total value growth for the S&P 500 is basically that number, plus the index value growth rate.

The S&P 500 has certainly done very well, no doubt about it. The index number rose inflation + 12.19%/year.
Does anyone have any thoughts on how much the *value* of the S&P 500 index has gone up in 15 years?

TTM real earnings rose inflation + 6.02%/year
Smoothed real earnings rose inflation + 4.37%/year
Real dividends up inflation + 5.77%/year
TTM sales up inflation + 2.77%/year

Jim

Berkshire Hathaway FAQ

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