Post #7579 by rochish on the Berkshire Hathaway board

Be as clear and concise as possible in your posts, and avoid using jargon or unnecessarily complex language. Use proper spelling and grammar, and make sure that your posts are easy to understand.

- Manlobbi

Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤

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I agree. A 1.7% total win for the SPY vs. BRK over 20 years is actually a win for BRK given that, during this period, SPY has gone from (probably) fairly valued to significantly overvalued (figures will vary, but 40%-50% overvaluation comes to mind), whereas the same cannot be said about BRK at both end points.

This is (hopefully) not a post-hoc justification because I hold BRK, but not SPY. Instead, it's a statement that valuation matters A LOT.

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