I sold at a split adjusted $100.40 on 12/12/2007. My XIRR on that trade? 34.3%. And, here we are, more than FIVE YEARS LATER, and the poor sucker who bought my shares is just NOW beginning to show a profit on his "investment". LOL!
OK, I will own up to having done a more recent trade where I sold at a split adjusted $81.97 on 5/7/2012. My XIRR was a pathetically poor 1.0% on that misconceived speculative bet. Oh well, can't win them all! But the stuff I bought with the proceeds have done very well, XIRRs North of 10%, (but then, what hasn't?), pays a yummy dividend (which I DO NOT automatically reinvest in additional over-priced shares), and have much lower duration risk to boot.
I no longer own BRK nor do I have any desire to do so again.
So, now that I've answered your question, answer mine: How do you calculate the Intrinsic (not imaginary) Value of, AND, the modified duration of, a zero coupon consol (a security that never matures, AND has no intention of ever making a distribution)?
(I gave him too much credit earlier; I thought he had sold around $84-85, but he's actually even dumber than I remembered.)
The 'signs' he claimed to see in Buffett's statements, and in his pathetic spreadsheets, led him to the monumentally stupid conclusion that BRK would probably never again sell for much above 1.15 BV.
The current ratio, a short 9 months later? About 1.36.
Anyone who bought on the day JADdie sold has earned over 23%, with minimal risk, in 9 months.
Looks like a juvenile religious devotion to childish dogma and specious spreadsheets comes at a very high price.
When you did your IRR calculation did you factyor in taxes? Mr. Common Sense claims that one should subtract the taxes paid on the gain thus lowering the overall return. Of course in the academic /
textbook world they make the heroic assumption that there are no taxes.
Assuming your question pertains to BRK once again you miss the boat as BRK is constantly evolving and changing and each of its businesses has an independent management team that love their work/business and are making every effort to increase market share and profitability.