1987 Shareholder Letter - Summary
Key highlights from Buffett's 1987 letter to shareholders.
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1987 Shareholder Letter - Summary
1987 net worth increased $464 million or 19.5%, with per-share book value reaching $2,477.47 — a 23.1% compound annual return over 23 years. This letter explained why book value and intrinsic value often have little relationship.
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Source: Full Letter