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Berkshire Hathaway Inc. Berkshire Hathaway is one of the most remarkable companies in American corporate history. When Warren Buffett, one of the greatest investors who have ever lived, purchased the firm in 1965, it was a waning textile company with a book value of $19 per share. In the nearly four decades since then, Berkshire has become a holding company containing almost 100 subsidiary operating units and joint ventures, a portfolio of billions of dollars of blue chip equities and debt, and one of the highest reputations for ethics and corporate governance. In 2003, the most recent year of fully available data, Berkshire's book value was $50,498. This represents a growth rate of 22.2% compounded annually, almost twice the growth rate of the S&P 500 over the same period. In absolute terms, a single dollar invested in Buffett's firm in 1965 would be theoretically worth $259,485 after taxes in 2003, compared...

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