White Mountains Insurance Group, Ltd. Message Board

Actually, that is not entirely accurate.

Since 1986, Berkshire has compounded book value at 19.6%, WTM has compounded book value at 16% including dividends.

Since the IPO in 1985, Berkshire has compounded book at 20.1%, WTM at 17% including dividends.

The historical record shows Berkshire has outperformed WTM.