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  "documentTitle": "Greenhill Wesco Financial Presentation Dec 2010",
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  "presentationDate": "2010-12-01 00:00:00",
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      "text": "Source: SNL Financial, FactSet",
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      "text": "Price-to-book is an imperfect valuation metric for the S&P 500 given that a number of the companies in the S&P 500 do not trade on book value and have artificially high price-to-book multiples. That said, Berkshire's current price-to-book multiple is 60.9% of the S&P 500's current price-to-book multiple compared to 57.9% over the last 10 years. Berkshire is currently valued at a 1.33x price-to-book multiple relative to a 1.60x average over the last 10 years",
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      "text": "10-Year Average: 1.60x, 5-Year Average: 1.48x, 3-Year Average: 1.42x, 1-Year Average: 1.35x, Current: 1.33x",
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