文档介绍：.:worthduring2009was$,whichincreasedtheper-%.Overthelast45years(thatis,sincepresentmanagementtookover)bookvaluehasgrownfrom$19to$84,487,.*Berkshire’srecentacquisitionofBurlingtonNorthernSantaFe(BNSF)hasaddedatleast65,000shareholderstothe500,’simportanttoCharlieMunger,mylong-timepartner,andmethatallofourownersunderstandBerkshire’soperations,goals,,consequently,-94andIurgeallofyou–butparticularlyournewshareholders–’,,CharlieandIhavebelievedinhavingarationalandunbendingstandardformeasuringwhatwehave–orhavenot–’&P500asourbogeywasaneasychoicebecauseourshareholders,atvirtuallynocost,?AmoredifficultdecisionforuswashowtomeasuretheprogressofBerkshireversustheS&,infact,-to-,ofMicrosoft,andJeffImmelt,ofGE,cantellyouaboutthatproblem,