Buffett Partnership Letter 1963 Annual
1963 annual - 38.7% gain vs 20.7% Dow, 7-year compound at 27.7%
warren-buffettbuffett-partnershipperformance1963
Buffett Partnership Letter 1963 Annual
Warren E. Buffett | January 18, 1964
1963 Performance
| Year | Dow | Partnership | Limited Partners |
|---|---|---|---|
| 1957 | -8.4% | 10.4% | 9.3% |
| 1958 | 38.5% | 40.9% | 32.2% |
| 1959 | 20.0% | 25.9% | 20.9% |
| 1960 | -6.2% | 22.8% | 18.6% |
| 1961 | 22.4% | 45.9% | 35.9% |
| 1962 | -7.6% | 13.9% | 11.9% |
| 1963 | 20.7% | 38.7% | 30.5% |
Key Results
- Overall gain: $3,637,167
- Partnership gained 38.7%
- Dow gained 20.7%
- Limited partners gained 30.5%
7-Year Cumulative Performance
| Metric | Dow | Partnership | Limited Partners |
|---|---|---|---|
| Cumulative | 95.1% | 454.5% | 311.2% |
| Annual Compounded | 10.0% | 27.7% | 22.3% |
Market Context
"1963 was a good year. It was not a good year because we had an overall gain of $3,637,167 or 38.7% on our beginning net assets... Rather it was a good year because our performance was substantially better than that of our fundamental yardstick."
Source
Warren E. Buffett, January 18, 1964.