Although Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) isn't much of a household name, its CEO, billionaire Warren Buffett, certainly is. Since taking the reins at Berkshire Hathaway in the mid-1960s, the Oracle of Omaha has doubled up the annualized total return, including dividends paid, of the S 500 (19.8% versus 9.9%). This substantial long-term outperformance is what coerces more than 30,000 investors and shareholders to trek to Omaha, Nebraska, every year to listen to Warren Buffett speak.

The latest Berkshire Hathaway annual shareholder meeting didn't disappoint. The traditional five-hour question-and-answer session that Warren Buffett and executive vice chairman Charlie Munger grant members of the audience usually results in invaluable nuggets of wisdom being passed along, as well as gaining added insight into Buffett's investment/analysis process.

Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.

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Source Fool.com