Warren Buffett's letter to shareholders found on his company's website (www.berkshirehathaway.com) notes that the Dow Jones Industrial Average (Dow) rose from 66 to 11,497 between Dec. 31, 1899 and Dec. 31, 1999. What compound annual growth rate is implied in this record of performance? The answer next week.

Copyright© 2006 Magdefrau, Renner & Ciaffaglione LLC