Morningstar just bestowed the title of "CEO OF THE YEAR" to Warren Buffett. According to Morningstar, this is done to "acknowledge all that Buffett has done for Berkshire Hathaway (BRK-A) (BRK-B) shareholders, both over the decades as well as in 2008."
Specifically, it stated:
"Beyond creating a company that treats common shareholders with the utmost fairness and respect, one needs only to look at the long-term value created at Berkshire Hathaway to see why Buffett deserves the award. Since taking the helm of the sleepy textile business 44 years ago and turning it into arguably the strongest conglomerate on the planet, Buffett and his managers have grown the book value per A share from $19 to just over $77,500, as of Sept. 30. This translates to a 20.7% annualized increase in book value since 1965, versus a mere 9.6% annualized return in the S&P 500 (including dividends) over the same time period."
As for Warren Buffett's accomplishment in 2008, it commented:
"And while 2008 was an exceptionally difficult year for just about all investors, it was much less trying on Berkshire Hathaway and its shareholders. Berkshire's balance sheet equity should be roughly flat from a year ago once the books are closed on 2008. More importantly, the competitive positioning and cash-flow generating ability of Berkshire's businesses remain robust."
Click to read the complete story in Morningstar.
Specifically, it stated:
"Beyond creating a company that treats common shareholders with the utmost fairness and respect, one needs only to look at the long-term value created at Berkshire Hathaway to see why Buffett deserves the award. Since taking the helm of the sleepy textile business 44 years ago and turning it into arguably the strongest conglomerate on the planet, Buffett and his managers have grown the book value per A share from $19 to just over $77,500, as of Sept. 30. This translates to a 20.7% annualized increase in book value since 1965, versus a mere 9.6% annualized return in the S&P 500 (including dividends) over the same time period."
As for Warren Buffett's accomplishment in 2008, it commented:
"And while 2008 was an exceptionally difficult year for just about all investors, it was much less trying on Berkshire Hathaway and its shareholders. Berkshire's balance sheet equity should be roughly flat from a year ago once the books are closed on 2008. More importantly, the competitive positioning and cash-flow generating ability of Berkshire's businesses remain robust."
Click to read the complete story in Morningstar.
