Warren Buffet

Warren Buffet

Warren Buffet, management consultant The consequence of his incredible success finally caught up with Warren Buffet last year. At its 44th attempt, the S&P 500 finally grew faster than the book value of Berkshire Hathaway over a five year period. Mea culpa is expected in the annual letter to shareholders next month. What that has prompted is some retreading of the reasons why Berkshire doesn’t pay a dividend. In essence, this empire of insurance, stocks and real businesses has been built on compounding retained earnings. The Sage of Omaha keeps the…