The S&P 500 Index Against Berkshires Burke Book Value

The railroad industry one thing we're headed by a prominent Democrat The railroad industry was that may not be a help Charlie Right after World War two now there was a lot of passenger traffic then but the railroad industry I think had as many as a million seven hundred thousand employees in the United States and here we are today There's less than 200,000. Railroad has become so much more efficient It's just by a huge factor and It's a fundamentally Very good way to move heavy stuff a long distance. Berkshire would show up better on that table than it does in the table I present In other words our advantage over the s&p would be larger if Calculated That way because we started it a