Ira Stoll on Warren Buffett's Economic Contradictions

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Credit: WhiteHouse.gov

In the 50 years since Warren Buffett took over Berkshire Hathaway, the per-share market value has increased 1,826,163 percent, or a compounded annual gain of 21.6 percent, Buffett reports in his annual letter to shareholders, which was released over the weekend.

It's a remarkable record, writes Ira Stoll, and reason enough to give Buffett's annual letter a careful read. It can tell us something about how Buffett got so rich, and it might even yield some insights into his cosy relationship with big government.

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