In the past 40 years, shares of Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) have soared 6,140%. This gain trounces that of the S 500, even if we include dividends. 

As a result of this outsized performance, especially over such an extended period of time, investors might be looking at the conglomerate, which is headed by legendary capital allocator Warren Buffett, as a worthy stock to buy for the long haul. 

But before doing that, it's a smart idea to learn more about the business. Here are three things you need to know about Berkshire Hathaway. 

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Source Fool.com