To understand the early record of Warren Buffett, you have to look past the modern corporate monument of Berkshire Hathaway and stare directly into the raw numbers of a defunct 1950s private investment vehicle. Between 1957 and 1969, Buffett Partnership Ltd. (BPL) compounded its gross assets at an astonishing 29.5% annually. For the limited partners, this translated to a 23.8% net compound annual growth rate (CAGR). Most remarkable of all, the p…
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