The following video is part of our "Motley Fool Conversations" series, in which senior analyst Anand Chokkavelu, CFA, discusses topics across the investing world.
Warren Buffett's Berkshire Hathaway is a sprawling conglomerate. But at its core, it's an insurance company. Because of this, its earnings can be quite misleading. Like with banks, the balance sheet plays a much bigger role. Anand shares an example Buffett himself gave on why Berkshire's earnings can't be taken at face value.
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