巴菲特致股东的信-2009

Berkshire Hathaway Inc.
伯克希尔·哈撒韦公司全体股东：

Our decrease in net worh during 2008 was 11.5billion dollars, which reduced the per-share book value of both
our Class A and Class B stock by 9.6%.Over the last 44 years ( that is, since present management took over)
book value has grown from 19 dollars to 70,530, a rate of 20.3%compounded annually.
2008年，我们公司的净值降幅高达115亿美元，这导致A类股票和B类股票的每股账面价值下降9.6%。在过去的44
年（也就是说，现任管理层继任以来），公司每股账面价值从19美元增长至70530美元，年复合增长率为20.3%。