I recently reviewed Buffett’s partnership letters, which were written over a ten-year period from 1959 to 1969. Not surprisingly, the letters contain numerous lessons on the art of investing. From 1957, net of fees, the average cumulative return to limited partners was 1,403.5% compared to 185.7% for the Dow. Before fees the result was +2,610.6%.
Over the next few days, I will be posting on the investing nuggets I found in the letters. I hope you find them as useful as I have.