For nearly 60 years, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett has been delivering outsized returns for his investors. Whereas the benchmark S 500 has gained a little over 34,000%, including dividends paid, since the "Oracle of Omaha" took over as Berkshire's CEO in the mid-1960s, Buffett has overseen an aggregate return in his Class A shares (BRK.A) that surpassed 5,100,000%, as of the closing bell on April 5.

Buffett's secret to handily outpacing Wall Street's major stock indexes is really no secret at all. For decades, he and his investment team -- which until his recent passing included the affably named "Architect of Berkshire Hathaway," Charlie Munger -- have sought out brand-name, time-tested businesses with well-defined competitive advantages and exceptional management teams.

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

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