Post #11148 by AdrianC on the Berkshire Hathaway board

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"Overvaluation" is a tricky thing to determine.

2014-2024:
https://stockcharts.com/freecharts/perf.php?SPY,BR...

SPY +300%
BRK.b +290%

Berkshire was quite cheap back then (1.23x book at end of 2013).
I don't think any of us here would have said the same for SPY. Quite the opposite.

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