Happy retirement to the wise and benign Warren Buffett
From our UK edition
‘Father Time always wins,’ 96-year-old Warren Buffett told shareholders as he retired last week from the chair of Berkshire Hathaway, the investment juggernaut he led for six decades. ‘He has, however, been generous with me.’ Buffett himself has been generous too, in the wisdom he dispensed and in the spectacular long-term return on capital he delivered. One hundred dollars invested with him in 1965 would have become $6 million today, at a compound annual growth rate close to 20 per cent; the same bet on the S&P 500 share index, compounding at 10.5 per cent, would have made just $45,500. Except of course that for Buffett, investment was never a bet.
