20-Year Total Return Comparison (2003–2023) Over the past two decades, Berkshire Hathaway’s stock performance has roughly matched the S&P 500’s total return. From 2003 through 2023, Berkshire Hathaway (BRK) delivered about a 10.5% compounded annual gain (approximately +644% cumulative), slightly trailing the S&P 500’s 11.1% annualized total return (about +720% cumulative). In other words, an investment in the S&P 500 (with dividends reinvested) marginally outpaced an equal investment in Berkshire over this 20-year span. 2003–2007: BRK surged in the mid-2000s (e.g. +29% in 2007 vs S&P’s +5%) after lagging during the early-2000s tech bubble bust. 2008–2009: Both suffered in the financial crisis (BRK –32% in 2008 vs S&P –37%), with similar ~–50% peak drawdowns, though Berkshire recovered more slowly in 2009 (only +2% vs… Read more
