We thought the marathon was heartbreaking. The largest medical follow-up to date has just settled the debate

When an amateur runner crosses the finish line after 42 kilometers, his body is on the limit, and so is his heart. This is something that can be seen in a simple analysis where it is seen how the levels of troponin T, one of the warning markers of a heart attack, and evident fatigue in the right ventricle. But in this case the question is obvious: Can doing a marathon kill us? The answer It’s no. This has been demonstrated by an exhaustive study published at the end of 2025 in JAMA Cardiology, which has pointed out that, despite the extreme stress on the heart in the short term, amateur marathon running does not cause long-term cardiac damage. To understand the magnitude of this discovery, we must return to the origin of fear and here recent works, such as those published in Frontiers in Physiology or studies on ultramarathon runners, have documented repeatedly what happens immediately after the race. What has been done. Logically, the effort of doing a marathon at a high level of effort induces morphological and biochemical ventricular changes. The heart here is subjected to a great overload of volume and pressure, releasing proteins that in a patient at rest in the emergency room would set off all the alarms for a possible heart attack. But to draw conclusions, the research has followed the same runners for ten years. The Be-MaGIC project. With this premise, the investigation was not born yesterday, but rather the team took advantage of the historical cohort of this project that originated in the 2009 Munich marathon. In this way, the researchers decided to follow 152 amateur male runners with an initial average age of 43 years. In this way, participants were evaluated before the marathon, after crossing the finish line, one day after, three days after and finally ten years later. To do this, state-of-the-art 3D echocardiography was used and also the analysis of cardiac biomarkers to determine how the ventricles function, which are ultimately the main pumps of the heart. The results. After all these years, studies indicated that, after completing the race, all cardiac function began to be greatly altered with increases in cardiac biomarkers. But this is something that was resolved in the following days until he reached the age of 10 with a completely perfect heart. No scarring of heart tissue, no premature heart failure. Everything is normal, despite the fact that after the race the stress to which he has been subjected is very high and can cause concern. What does this mean? The scientific study confirms that the human heart is an extraordinarily elastic machine. Here, right ventricular dysfunction and troponin release after running 42 kilometers should be interpreted as a transient physiological response to extreme exercise and not as permanent pathological damage. Of course, this doesn’t mean that marathon running is without acute risks, especially for people with underlying or undiagnosed heart conditions. However, for the average amateur runner who trains properly, the science is clear: crossing that finish line will exhaust your body, but it won’t mortgage the future of your heart. Images | Miguel Amutio Kenny Eliason In Xataka | Walking very fast seems the most effective way to lose fat: science knows that the key is to do it with an incline

Renfe, Iryo and Ouigo raised prices wildly in 2025. Now they are suffering the foreseeable consequences

Demand on trains has fallen. We could think that it is the direct consequence of railway chaos that has set in in the first months of 2026. But no. The last quarter of 2025 already anticipated turbulent times for high speed. And between October and December 2025, prices skyrocketed and demand fell. Now it is the operators who have to walk a tightrope. What has happened? That demand for high-speed trains has fallen significantly in recent months. According to data from Trainlinetrain ticket price comparator, the demand for these trips plummeted 30% after the accident in Adamuz (Córdoba) in the middle of last January. The data could indicate a distrust among travelers as a result, but not everything is explained by the possible fear that those who travel by train may have. And the volume of travelers at the end of 2025 had already fallen. It is something we know now with the publication of the latest report from the CNMCwho collects market movements with a quarter delay or so. Madrid-Barcelona. The consequences in this report are clear, the volume of travelers fell between October and December 2025 in the Madrid-Barcelona corridor, where prices have settled and there is a smaller difference between companies. According to the CNMC, the main data are the following: Decrease in travelers of 13% compared to October-December 2024. Fall of the companies with the most expensive prices: -19% Renfe (95.58 euros) and -13.9% Iryo (76.89 euros). Rise of Ouigo (+12.8%) which has the cheapest prices (61.42 euros). The recorded data shows a brutal increase in prices. Renfe has been left without AVLO to fight for the floor price, which has triggered its average ticket but Ouigo and Iryo also multiplied the price of the average bill. In fact, the following increases were recorded compared to the previous year: Renfe: +40.2% Iryo: +69.0% Ouigo: +40.9% (Much) more expensive, less travel. The increase in prices in Madrid-Barcelona explains several trends: This broker is the least sensitive to price variations. Although the volume of passengers has been reduced, the increase in price has been much greater, so it is to be assumed that there are many travelers who continued to use it as round-trip transportation during the day for similar situations. The operators have finally had to raise prices to stop making losses. This has meant a reduction in passengers on Renfe (which, as we said, You no longer have AVLO service) and Iryo. Ouigo has grown by 12.9% but its places offered have also grown by 16.1%. In the rest of the corridors, only the Valencian has had a substantial price increase (+22.3%) and it has not suffered. Madrid-Seville (-1.9%), Madrid-Málaga (-5%) or Madrid-Alicante (+6.6%) have remained at similar prices. None of these corridors have lost travelers. What can we expect? A drastic drop in the volume of travelers. That is what we expect from the next CNMC report in which the results for January, February and March 2026 will be noted. There are many reasons that explain the result we expect. To begin with, the railway chaos that Spanish roads have become since the fateful Adamuz accident: The most affected. We already know that demand for trains has to fall irremediably given the cuts and speed restrictions that were recorded in the following days, but we must bear in mind that passenger confidence has been eroded since the accident. And not only because of a lack of trust in security, the problem is delays and inconsistency in arrival times. According to ABC65% of the trains arrived late last February. But it is that The Madrid-Barcelona corridor has been the most affected since clients relied on their Swiss punctuality for business trips. That has been diluted in recent weeks, with speed restrictions that are now permanent and road works. This has triggered air travelers, skyrocketing the price the same to the point that Iberia capped the prices of the Air Bridge at 99 euros. It remains to be seen if the companies’ alternative has been to lower prices. We will know that when the next CNMC report arrives and we can have a complete picture of how the market behaved and how operators dealt with these inconveniences when they were already rubbing their hands to raise prices. Photo | Alan Grant In Xataka | 150 years ago, Spain made a unique decision in the world. Ouigo and Iryo believe that Renfe is using it against them

Europe already has its recommendations for the latest oil crisis

15 years later, the idea of ​​limiting the speed to 110 km/h is floating in the air again. It comes from the European Commission, an organization that has indicated what measures it recommends to countries to save fuel with a letter. It includes 10 measures that touch on all types of issues in our economic and social life. These are those aimed at mobility. What has happened? That the European Commission, through Dan Jorgensen, Commissioner for Energy, has sent a letter to the 27 with recommendations to save oil in the face of the crisis that we are already experiencing and the possibility of it extending over time, according to media such as The World either The Country. The decalogue is based on the recommendations made by the International Energy Agency, but Jorgensen has already pointed out in the press conference after the announcement that there is no general recipe for all member countries of the European Union, so it is up to each one what to apply. At 110 km/h. Perhaps one of the measures that draws the most attention to Spaniards is the 10 km/h reduction in speed. It is a measure that The Government of José Luis Rodríguez Zapatero already applied it in 2011. That barely lasted a few months (from March 7 to July 1) and the reason was the crisis derived from the Arab springs with which the price of crude oil rose. In those days, the Brent Barrel had also exceeded $100 per unit. When the project was presented, the expected savings for one year were 1.4 billion euros and gasoline and diesel consumption was 15 and 11% lower. The measure was lifted by encrypting savings of 450 million euros During the months that the plan was active and the fuel savings were 11.4% in the case of gasoline and 7.7% in the case of diesel. Given the enormous variety of models with combustion engines, it is impossible to establish a specific saving figure by reducing speed by 10 km/h. This is certain to happen since fuel consumption increases exponentially at higher speeds if you drive in the highest possible gear. The DGT points out Driving at 110 km/h leads to savings of almost 9% in a gasoline car and around 6.5% if we talk about a diesel car. Today yes, tomorrow no. Another of the measures announced by the European Commission that governments can apply is to limit entry to cities based on the license plate number. The idea is to use the car on alternate days to get around, a measure that would boost the use of public transport and would be accompanied by the demand from Europe that teleworking be prioritized to avoid commuting. This solution has generally been applied to improve pollution rates. They are common in countries more polluted than ours. In Mexico, for example, they apply the Not Circulating Today in which the license plate number is taken into account to allow or disallow the circulation of cars. Also in countries like China it has been applied. In our country, the most famous case was that of Madrid, which with The Government of Manuela Carmena applied this protocol in 2016. The measures, in fact, are still considered to reduce pollution in the city but they have not been applied again. Flights, the fewer the better. The Energy Commissioner has also referred to flights. According to Jorgensen, we should “avoid air travel when alternatives exist” and it has been clear with who the main ones are: “reducing business flights can quickly relieve pressure on the aviation fuel market,” they state in The World. It must be taken into account that Europe has been working for a long time in reducing short-term flights, especially those lasting less than two hours, and replacing them with train travel. In fact, the commitment to connect European capitals It is a determined commitment by the Commission. Lisbon-Madrid is a good example of this. It is expected to be long. In addition to the European recommendations, it must be taken into account that Europe is releasing its oil reserves with the aim of containing fuel prices. Our country alone has released 11.5 million barrels of oil from its energy reserves. However, the crisis is expected to be long. The accounts suggest that the world is already facing a daily deficit of 8 million barrels. Oil at $200 a barrel begins to appear on the horizon. Media like Financial Times They warn that we are facing a crisis similar to that of the 70s. And Repsol already warns– Releasing oil reserves is a temporary patch. Photo | Tim D. and Rafael Garcin In Xataka | There is a silent war between “premium” and low-cost gas stations: and the most unexpected side is losing it

It comes with a store balance and is brand new.

The PlayStation 5 rises in price, again. And it does so in all the models that are available right now: standard, digital and Pro. If you were planning to take the leap soon, you may be interested in doing so before the price increases, since in some stores we can find it not only at its current official price, but also lower: PlayStation 5 Slim standard by 521 euros on AliExpress using the coupon ESCD25. PlayStation 5 Slim digital by 392.57 euros on AliExpress using the coupon ESCD25 PlayStation 5 Pro by 718.98 euros on AliExpress using the coupon ESCD25. Additionally, if you prefer to buy it from other stores, MediaMarkt has the digital PlayStation 5 Slim in its eBay outlet for a price of 469 euros. It comes from eBay, yes, but it has the official store guarantee and also adds a very attractive gift. PlayStation 5 Slim digital + 20 credit The price could vary. We earn commission from these links The PlayStation 5, cheaper and with a gift The PlayStation 5 In its Slim digital version that we can find in the MediaMarkt outlet, it is not reconditioned, but quite the opposite. This is a completely new console, which means that It has not been used, is unopened, has no damage and is in the original packaging.. The console does not come alone, but is actually a pack that includes a card balance of 20 euros. It is not a lot of money, but it is attractive to receive the console at home and take advantage of one of the many offers in the PlayStation Store so you can play from the first moment. Be careful: the digital PlayStation 5 Slim is, as its name suggests, a completely digital console. It does not allow playing video games on a physical disk, unless the disk reader that can be purchased for 79.99 euros in the main MediaMarkt store. ⚡ IN SUMMARY: PlayStation 5 offer today ✅ THE BEST dand offer and with gifta 20 euro credit code for the PlayStation store. ❌ THE WORST Yesin disk readerso unless the reader is purchased separately, it only allows you to play digital video games. 💡 BUY IT IF… You were planning to buy the console in the near future, since it will soon increase in price. ⛔ DON’T BUY IT IF… You can wait for sale campaigns such as Prime Day or Black Friday, since the PlayStation 5 usually tends to drop in price, although the discount will depend a lot on the new price increase. You may also be interested Remotto5 – Wireless PS5 Controller Charger – Portable Battery for DualSense Play While Charging – Long Duration +12 Hours of Autonomy – PS5 Accessories The price could vary. We earn commission from these links Razer Universal Quick Charging Stand – for PlayStation 5 DualSense Controller (Quick Charging, Curved Stand Design, USB Power, One-Handed Navigation) Midnight Black The price could vary. We earn commission from these links Some of the links in this article are affiliated and may provide a benefit to Xataka. In case of non-availability, offers may vary. Images | John Tones and Juan Carlos LópezPlayStation In Xataka | PlayStation 5 Pro vs PlayStation 5: these are all the differences between the two Sony consoles In Xataka | Two years ago I bought a PS5. I wish someone had told me I needed these plugins too.

What he has found are more cuts in his staff

Oracle has begun sending emails to thousands of its employees telling them that their jobs have been eliminated and with instructions to return your equipment and credentials. The news will not come as a surprise to those who follow the day-to-day life of the technology sector. The company founded by Larry Ellison had been adjusting its internal structure to face the astronomical cost of their investments in AI. The company, which had 162,000 employees in May 2025, has not officially confirmed the magnitude of the cuts, giving an exact figure. However, two people familiar with the process confirmed to CNBC that the layoffs affected thousands of workersalthough they asked to remain anonymous because the announcement had not yet been made public. Dismissed by mail The first people affected by the cuts began receiving emails from Oracle’s Human Resources department yesterday afternoon. The email to which Business Insider has had access It included the following message, attributed to the company: “After careful consideration of Oracle’s current business needs, we have made the decision to eliminate your position as part of a broader organizational change. As a result, today is your last day of work.” Some of the employees who received this email they published it on their social media profiles. The WARN (Worker Adjustment and Retraining Notification) Act requires companies with more than 100 employees to provide at least 60 days’ notice before carrying out layoffs. According to published Reutersat the moment Oracle had only reported 491 layoffs in the state of Washington and in its Seattle offices as of June 1. The cuts have not been concentrated in a single department, but have reached very diverse areas. According to testimonies from former employees, the affected areas include Oracle Health, the sales department, the cloud division, customer service and NetSuite. The billion-dollar cost of restructuring Reducing staff on this scale is not cheap. In a document filed with the United States Securities and Exchange Commission (SEC), Oracle reported a $1.6 billion item intended to cover “employee severance costs” in its 2026 Restructuring Plan. As indicated Reutersthe total expenses of its reorganization plan during fiscal year 2026 could reach $2.1 billion, most of it intended to cover compensation for the dismissal of its employees. The origin of this restructuring must be sought in Oracle’s expansion plans in infrastructure for artificial intelligence. At the beginning of the year, the company announced plans for raise 50 billion dollars through debt and equity in order to finance its growth. This figure represents a very significant jump compared to the 35,000 million that had initially been estimated as expenses for fiscal year 2026. The layoffs that Oracle is carrying out They are not an isolated case in the technology sector. Massive cuts combined with a scenario of billionaire profits and increasing investment in AI have become a common strategy among large technology companies. Amazon, for example, announced at the beginning of 2026 the dismissal of some 16,000 jobsof which already has executed about 14,000 around the world, including its subsidiaries in Spain. Meta, for its part, announced the dismissal of a good part of its metaverse development teams with the argument of restructuring its staff to make it more competitive for AI. The response of shareholders to the decision to cut their workforce is not new either. Oracle share price accumulated a fall 25% so far this year, a greater decline than that recorded by any other large technology company in the same period. However, after the news of the layoffs became known, its price has turned upwards and has already increased by 6%. In Xataka | Larry Ellison wanted to feed the world by growing lettuce on his private island: he irrigated it with 500 million dollars Image | Flickr (Oracle PR)

The company that earns 2,000 million a month is already worth 852,000 million dollars

Just a year ago we broke the same news: OpenAI had broken the record for the largest financing round in the history of Silicon Valley. Then it was $40 billion, which raised the startup’s valuation to $300 billion. The curious thing is that today, a year later, history repeats itself, but with much (very much) higher numbers and also more doubts flying over the environment. Add and continue. OpenAI has broken the record again of Silicon Valley’s largest financing round, raising no less than $122 billion, which places its “post-money” valuation at $852 billion. OpenAI claims that this investment will allow them to expand their computing capacity and thus be able to sustain the development of their frontier models. Why it is important. OpenAI is the most valuable private company in the world, ahead of giants such as JP Morgan, Samsung or Visa. There are only 14 companies listed on the stock market that exceed their valuation, but they have also tripled it in just one year. All this happens in the shadow of a possible bubblewith many doubts about your business strategy and, above all, IPO on the horizon nearby. Who puts the money. Already They confirmed it a few days ago: Of the 122,000 million, NVIDIA, SoftBank and Amazon have contributed 110,000. The person who has contributed the most has been Amazon, which has put 50,000 million in OpenAI’s pocket. For their part, NVIDIA and SoftBank have contributed 30 billion each. The absence of Microsoft is striking, especially since they were expected to contribute “several billion more.” The remaining 12 billion come from venture capital firms in Silicon Valley and Wall Street. Of these, at least 3,000 million have been raised from individual investors through banks. An act of faith. OpenAI enters 2,000 million dollars per month, is a ridiculous figure compared to all the money that burns. Furthermore, we must not lose sight of the fact that those who are investing the most in the company are the ones who later charge it for using its chips (NVIDIA) and its data centers (Amazon). This circular financing scheme has not gone unnoticed and It is very reminiscent of another bubble from a while ago. Despite everything, investors seem to still have faith in OpenAI’s business model. Refocusing. OpenAI receives this round of funding amid its efforts to reorient its business model. After 2025 in which They have shot at everything that movedit seems that they have finally realized that AI is not won through memes. One of the most forceful steps in its new direction is Sora’s closurebut also They prepare a super app and They plan to double their staff. The underlying reason is that Anthropic is eating their toast in a field that is less viralizable, but much more profitable: business clients. We will see if this new OpenAI can be profitable. Image | Own edition with background Unsplash In Xataka | Here’s a disturbing message for OpenAI investors: Sam Altman’s new priority is finding money

build bunkers before it’s too late

During the Cold War, some air bases in Europe were protected by shelters capable of withstanding nearby nuclear explosions, with hangars buried under meters of concrete and steel. Decades later, many of these infrastructures have disappeared or become obsolete just as more modern threats once again target the same weak point. The awakening underground. Now that the United States has once again put end date of the war, everything indicates that uranium, oil or Tehran’s nuclear bombs have taken a backseat, because Iran has forced the United States to rediscover something much more basic: survival starts underground. After weeks of attacks with missiles and drones who have killed soldiers, destroyed aircraft and forced to disperse troops even to hotels and offices, the Pentagon has assumed that its immediate priority is not offensive, but defensive. The image of an army fighting “remotely” while their bases are hit summarizes the strategic turn: before projecting power, now it is time to resist. Exposed bases. The conflict has revealed a weakness that had been brewing for years: the lack of infrastructure hardened in US bases. Key aircraft parked outdoors, fixed radars and large clearly identifiable facilities have been easy targets for increasingly precise Iranian attacks. The system destruction such as an AWACS and the damage to multiple aircraft have shown that concepts such as dispersion or mobility are not enough when the enemy can hit repeatedly with cheap drones and ballistic missiles. The late turn. They remembered the TWZ analysts which is now when the Pentagon is rushing to do what it has not done for years: build bunkers. From prefabricated shelters that should arrive in a matter of days to underground command and operations complexes that won’t be ready for a decade, the priority is clear. Not only that. Commands on the ground they insist in which the reinforcement of positions and the expansion of refuges is already an urgent need, not a complement. However, this effort comes late for the current conflict and raises an uncomfortable question from the side of whoever started the war: why wasn’t it done sooner, when the threat was known? Warnings ignored. I explained this morning in a piece the wall street journal What is most revealing is that the problem is not new. For years, American commanders they alerted of the vulnerability of the bases in the Gulf and proposed alternatives such as deploying forces further from Iran or create new networks of airfields in safer areas. Those recommendations never materialized. Strategic priorities such as the turn towards the Pacific, diplomatic tensions and the lack of political urgency left a threat in the background that has now materialized in all its intensity. From supremacy to survival. If you will, the conflict has also changed the logic of war for the United States in the region. It is no longer just about dominating the air with fighters, bombers or anti-missile systems, but about ensuring that these assets survive on the ground (or under it). The combination of satellite intelligence, low-cost drones and precision strikes has dramatically reduced the margin of error. Every fixed base becomes a target, every repeated pattern a vulnerability, and every unprotected aircraft a potential loss. A lesson. Beyond the Middle East theater, the lesson for the United States is even more profound. If Iran has been able to impose this pressure levelthe scenario in a major conflict (especially in the Pacific) would be exponentially more complex. The United States is not only late in reinforcing its bases in the Gulf, but also faces a global structural problem: the need to redesign your infrastructure military for an era where hiding, hardening and dispersing can be more decisive than attacking. In other words, the war in Iran has not changed what weapons the United States uses, but it has revealed what its real priority is: build shelters before it’s too late. Image | USAF In Xataka | If the question is why the US has sent dozens of A-10s to Iran, the answer already has a video: to pull the trigger for 9 seconds In Xataka | The US did not make ends meet in Iran by launching thousands of missiles a month. So let’s move on to plan B: humans.

what time is it and how to follow it live

Let’s tell you how you can see the launch of the Artemis II livethe space mission that will take NASA to the Moon again. This is a manned mission in the direction of our satellite, although the crew will not descend to it. After months of delays and uncertaintiesthis next morning a new attempt will be made. The new lunar landing will not happen until the Artemis IV mission, although this Artemis II is the mission with which NASA will know if it has the technological capacity to carry out a future lunar landing without setbacks. The mission will fly over the Moon between 6,000 and 9,000 kilometers above its far side, and will be launched this morning. Now we are going to give you all the data to see the launch. When is the Artemis II launched? Space mission launches are carried out in time windows in which the meteorology and climatic conditions are favorable so that everything goes well. And the next launch window is Wednesday, April 1 at 6:24 p.m. ET, and will last for two hours. This is at 0:24 on April 2 in Spain mainland, one hour less in the Canary Islands. In Mexico the time is 16:24, 19:24 in Argentina, and 17:24 in Colombia. As the window is two hours, the launch in Spanish time will be sometime between 0:24 and 2:24 in the morning. Where can you watch the launch? The launch of Artemis II will be broadcast live to the entire world through NASA’s official YouTube channel, whose address is youtube.com/@NASA. This will allow you to watch it from the browser, from any mobile phone, or on any smart television where you have the YouTube app. When you enter the NASA channel; you will see that there is a section of Upcoming live broadcasts. In it you will be able to see two for the next morning, that of the launch itself and that of the views of the launch from space. You will even have the option to click on the Receive notice so that the YouTube app notifies you and you don’t forget. Cover image | POT In Xataka | We already know what we will eat on the moon: Madrid stew. An American team manages to grow chickpeas in lunar regolith

Everyone in Silicon Valley has sided with the Trump administration. Everyone except Google DeepMind’s chief scientist

The big technology companies have changed their political color and the leaders who once boasted diversity and inclusiontoday they position themselves alongside Trump and they even have dinner with him. In Silicon Valley, almost no one talks about politics, much less to criticize the president, no one except one man. Jeff Dean. He is the chief scientist of Google DeepMind and one of the few voices in Silicon Valley that has a critical stance towards the Trump government and most importantly: he says it in public. As they say in the Wall Street JournalDean often shares messages critical of the current administration in your X accountwhere he has almost 430,000 followers, and has strongly condemned acts like the murder of Alex Pretti at the hands of ICe agents in the Minnesota protests. Support Anthropic. Jeff Dean was one of 30 Google and OpenAI employees who signed the letter of support towards Anthropicafter it sued the Pentagon for declaring them “a risk to national security”. The judge who agreed with Anthropic and blocked the decisioncited this letter of support as part of the context of the case. Other companies like Microsoft They also took a stand in favor of Anthropic, but they did so through a spokesperson. The rarity. Positions like that of Jeff Dean, who openly criticizes the government and also does so in a personal capacity, would not have stood out a few years ago. In 2018 technology companies turned to the #MeToo movement and also supported the mobilizations of the ‘Black Lives Matter’ movement. This happened during Trump’s first term, but during his second, figures like Jeff Dean have become a rarity in Silicon Valley. The second mandate. Mark Zuckerberg, Jeff Bezos, Sam Altman, Sundar Pichai, Satya Nadella, Tim Cook… the support of the technological leaders was noted from the investiture ceremony itself, which was not only attended but They donated a million dollars each and, as a reward, saved billions in taxes. Companies began to take measures immediately, such as remove from Meta’s anti-fake-news system either dismantle diversity, equity and inclusion departments. The delicate line. That Donald Trump is a fairly volatile leader is nothing new. Making him angry is as easy as contradicting him and his reaction can be excessive, And if not, tell Anthropic. In this sense, the fear of the possible consequences of a disagreement plays a role in this submission, because let us not forget that the government is the one who dictates export-import regulations and can make their business much easier. In the end, what is happening in Silicon Valley It is not so different from the situation in China that is so criticized from the American side. In Xataka | The war between Anthropic and the Pentagon points to something terrifying: a new “Oppenheimer Moment” Image | Wikipedia

There’s a reason Warren Buffett is known as the “Oracle of Omaha” and this chart is the best proof

There are numbers that don’t need much explanation. Just take a quick look at them to understand why Warren Buffett has been considered the best investor in history. The difference between the cumulative performance that have generated the investments that Buffett has made throughout his career as an investor through Berkshire Hathaway, and what it would have meant to invest it in any security in the S&P 500 index during the same time is not a small advantage: it is an abyss. In its traditional letter to its shareholders The company collects on a single page the history of returns obtained since 1965. That page is, possibly, the most eloquent summary of what it means to invest well over a lifetime. The data portal VisualCapitalist.com has prepared a very illuminating graph with this data and a simple glance is enough to realize the enormous difference between the returns obtained by Buffett and those of the S&P 500. So much difference, that they even had to zoom in on the image so that the evolution of the S&P500 can appear. Six decades of financial returns He annual report of Berkshire Hathaway 2025 reflects the evolution of the company’s value per share compared to the performance of the S&P 500 since 1965. The accumulated result during that period is no less than 6,099,294% for Berkshire, compared to 46,061% for the most followed stock market index in the world. Translated into money, those figures indicate that if you had invested $100 in Berkshire Hathaway in 1965, Buffett would have turned it into more than $6 million today, while that same amount put into the S&P 500 would have grown to just over $46,000. The compound annual gain that Berkshire has delivered between 1965 and 2025 was 19.7%, almost double the 10.5% achieved by the S&P 500 in that same period. It is not a difference of a few percentage points that accumulate; when we talk about decades, that gap becomes an abyss. He compound interest It has that multiplier effect, and Buffett understood it better than anyone. Good years and bad years (which are not so bad) Despite the good historical data for the entire period, not all years ended with green numbers. The table provided by the company each year also reveals that Berkshire Hathaway did not outperform the S&P 500 every year. In 2025, for example, Berkshire’s value per share rose 10.9% while the S&P 500 it did so by 17.9%. There were other exercises with similar results: in 1967, the S&P 500 index rose 30.9% compared to 13.3% for Berkshire; In 1999, Buffett’s company lost 19.9%, while the S&P gained 21.0%. In 2019, the S&P 500 soared to 31.5%, while Berkshire Hathaway only managed to post a not inconsiderable 11.0% return. Buffett wasn’t playing to win every battle, he was playing to win the war. But where the veteran investor’s strategy especially shined was when the bad times came. The S&P 500 closed negative 13 times between 1965 and 2025. However, Berkshire weathered the storm better than the S&P 500 in 11 of those 13 years. That is, it lost less during the worst years and even ended positively when everyone lost. The only two exceptions are found in the results of 1974, in which Berkshire closed the year with a fall of 48.7% compared to 26.4% for the S&P 500, and in 1990, when Buffett’s company fell 23.1% compared to 3.1% for the stock index. The secret of compound interest The key to this success in profitability is not in the individual years but in the consistency of the results over time. When an investment grows at a compound annual rate of 19.7% for 60 years, the cumulative effect is exponential: Each year’s profits are added to the previous capital and generate new profits on that growing total. It’s the difference between adding and multiplying, and Buffett made that principle the centerpiece of his entire investment philosophy. He new CEO of BerkshireGregory Abel, described in his last letter to investors This way of operating compares Buffett with the legendary baseball player Ted Williams, who divided the hitting zone into 77 segments and tried only in a much smaller area, achieving a historical average. “A similar discipline, patience and judgment define Warren’s approach to investing: determine preferred pitches, wait for them, and then strike decisively,” Abel said in the letter to shareholders included in the 2025 annual report. The Oracle’s investing nose Abel outlined in the 2025 shareholder letter the philosophy that has guided Berkshire’s investments over the decades, based on moat theory in which capital is concentrated in a small number of companies that understand their business, and defend lasting advantages. Along these lines, the report highlights Buffett’s historical investments in Apple, American Express or Coca-Cola as the best example of that approach. Businesses that, in Abel’s own words, Berkshire considers to be “companies that we understand well, have great respect for their leaders and have waited for them to grow for decades.” That investing nose, built with patience and without getting carried away by market fashionsis precisely what has made Buffett a investment legend. Coca-Cola has been in Berkshire’s portfolio since 1988 and American Express since 1991, investments that over time have generated returns that more than multiply the original purchase price. The Oracle of Omaha did not predict the future: he chose well, waited decades and let time do the rest. The same time that has proven him right. In Xataka | Seven of the ten largest fortunes in the world in 2026 are due to AI: this illustrative graph makes it very clear Image | VisualCapitalist

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