In the following video, Motley Fool financial analysts Matt Koppenheffer and David Hanson discuss Warren Buffett's letter to Berkshire Hathaway (NYSE:BRK-B) shareholders this year. In the letter, Buffett tells shareholders that it was a "sub-par" year, and one of only nine years in the company's 48-year history that it has grown in book value less than the S&P 500's percentage gain for the year. Matt puts this "disappointment" into perspective by looking at Berkshire's performance on a longer timeline. 


David Hanson has no position in any stocks mentioned. Matt Koppenheffer owns shares of Berkshire Hathaway. The Motley Fool recommends Berkshire Hathaway. The Motley Fool owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.