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Berkshire Hathaway Shareholder Letter 2022

Berkshire’s Performance vs. the S&P 500 Annual Percentage Change Berkshire’sPerformancevs.theS&P500 AnnualPercentageChange inPer-Share inS&P500 MarketValueof withDividends Berkshire Included Year 1965 ......................................................................... 49.5 10.0 1966 ......................................................................... (3.4) (11.7) 1967 ......................................................................... 13.3 30.9 1968 ......................................... ...