Dear all,
The performance of Medallion provided in the book is up to 2018.
Here are the performance up to 2022 (from public sources) and comparson with Berkshire Hathaway and S&P500.
Regards
James
| Berkshire Hathaway | S&P 500 | Medallion (after fees) | Medallion (before fees) | |
|---|---|---|---|---|
| 1988 | 59.30% | 16.60% | 9.00% | 17.65% |
| 1989 | 84.60% | 31.70% | -4.00% | -7.84% |
| 1990 | -23.10% | -3.10% | 55.00% | 107.84% |
| 1991 | 35.60% | 30.50% | 39.40% | 77.25% |
| 1992 | 29.80% | 7.60% | 33.60% | 65.88% |
| 1993 | 38.90% | 10.10% | 39.10% | 76.67% |
| 1994 | 25.00% | 1.30% | 70.70% | 138.63% |
| 1995 | 57.40% | 37.60% | 38.30% | 75.10% |
| 1996 | 6.50% | 23.00% | 31.50% | 61.76% |
| 1997 | 34.90% | 33.40% | 21.20% | 41.57% |
| 1998 | 52.20% | 28.60% | 41.70% | 81.76% |
| 1999 | -19.90% | 21.00% | 24.50% | 48.04% |
| 2000 | 26.60% | -9.10% | 98.50% | 193.14% |
| 2001 | 6.50% | -11.90% | 33.00% | 64.71% |
| 2002 | -3.80% | -22.10% | 25.80% | 50.59% |
| 2003 | 15.80% | 28.70% | 21.90% | 42.94% |
| 2004 | 4.30% | 10.90% | 24.90% | 48.82% |
| 2005 | 0.80% | 4.90% | 29.50% | 57.84% |
| 2006 | 24.10% | 15.80% | 44.30% | 86.86% |
| 2007 | 28.70% | 5.50% | 73.70% | 144.51% |
| 2008 | -31.80% | -37.00% | 82.40% | 161.57% |
| 2009 | 2.70% | 26.50% | 39.00% | 76.47% |
| 2010 | 21.40% | 15.10% | 29.40% | 57.65% |
| 2011 | -4.70% | 2.10% | 37.00% | 72.55% |
| 2012 | 16.80% | 16.00% | 29.00% | 56.86% |
| 2013 | 32.70% | 32.40% | 46.90% | 91.96% |
| 2014 | 27.00% | 13.70% | 39.20% | 76.86% |
| 2015 | -12.50% | 1.40% | 36.00% | 70.59% |
| 2016 | 23.40% | 12.00% | 35.60% | 69.80% |
| 2017 | 21.90% | 21.80% | 45.00% | 88.24% |
| 2018 | 2.80% | -4.40% | 40.00% | 78.43% |
| 2019 | 11.00% | 31.00% | 39.00% | 76.47% |
| 2020 | 2.40% | 18.40% | 76.00% | 149.02% |
| 2021 | 29.80% | 28.70% | 48.00% | 94.12% |
| 2022 | 4.00% | -18.10% | 19.00% | 37.25% |
| 30 years Annualized | 11.85% | 9.29% | 39.30% | 75.66% |
| 20 years Annualized | 8.96% | 8.41% | 39.47% | 76.05% |
| 10 years Annualized | 10.18% | 9.41% | 36.50% | 69.99% |
| 5 years Annualized | 8.94% | 10.33% | 33.93% | 63.57% |