Here are the final standings. Of course one year's results (in...

Here are the final standings. Of course one year's results (in any company) have little meaning on their own, without looking at them in the context of a long-term investments. But they are fun to look at nonetheless.

Also remember that the total shareholder return (TSR) is determined by the constant tussle between buyers and sellers in the marketplace, and not by the underlying performance of the business. The latter is best reflected in the total portfolio return (TPR) which is the sum of dividend yield plus change in NTA as reported by the company. For the uninitiated, TSR and TPR diverge when there is a change in the discount or premium of the share price to NTA.