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For those who wonder what the seemingly random number '$114.75' comes from (from the Berkshire Hathaway 2018 Annual Shareholder Letter [pdf]): "On March 11th, i
by wolfhumble 8y ago
For those who wonder what the seemingly random number '$114.75' comes from (from the Berkshire Hathaway 2018 Annual Shareholder Letter [pdf]):
"On March 11th, it will be 77 years since I first invested in an American business. The year was 1942, I was 11, and I went all in, investing $114.75 I had begun accumulating at age six. What I bought was three shares of Cities Service preferred stock. I had become a capitalist, and it felt good."
Taking inflation into account, '$114.75' in 1942 is equivalent in purchasing power to '$1,444.20' in 2019, according to:
http://www.in2013dollars.com/us/inflation/1942?amount=114.75 http://www.in2013dollars.com/us/inflation/1942?amount=114.75