Period BRK A&P --------------------- 1 **2%** -3% 3 48% **51%** 5 65% **86%** 10 249% **264%** 15 **305%** 293% 20 525% **588%** Watch out for demagogues and prophets of doom and gloom. No need to jump over a higher hurdle ( analyzing two column method, succession, PCC, Airlines, Oxy, Apple, Airlines, WFC, Insurance, Buybacks etc). Dollar coat average. Sleep well. Get rich slowly.
Isn’t that a super market?
Yeap supermarket of top 500 listed stocks…
No need to jump over a higher hurdle
( analyzing two column method, succession, PCC, Airlines, Oxy, Apple, Airlines, WFC, Insurance, Buybacks etc).
Dollar coat average. Sleep well. Get rich slowly.
I was musing on this just the other day. I first bought Berkshire at the start of 1999 (terrible valuation at the time, I know, now).
What if a person had DCA into SPY or Berkshire from then till now?
Advantage Berkshire, but not by much.
You made me curious. Did not Graham discuss A&P’s decline in The Intelligent Investor? I had no idea they were as dominant back around WEB’s birth. No wonder the Grandpa Ernest Buffett Store fought an uphill battle for 100 years before closing its doors. From A&P Wikipedia:
“In 1930, the corporation’s 16,000 stores reached $2.9 billion in sales, resulting in a 25% grocery-store share in its operating areas, and about 10% nationwide. No retail company had ever achieved these results. A&P was twice as large as the next largest retailer, Sears, and four times that of grocer Kroger. Unlike most of its competitors, A&P was in excellent position to weather the Great Depression.”
Wow, impressive business run, from pre-Civil War to the bankruptcy in 2015. Interesting that we own a lot of Kroger now.
S&P is very hard to beat. It is resilient, adaptable, relentless and a long track record.
Dollar cost averaging in S&P is simple.
In fact it is so simple that most “smart” investors (including WEB) think they can out perform it handily.