The annual Value Investor Conference is one of the premier events surrounding Berkshire Hathaway's (NYSE:BRK-B) annual meeting in Omaha. The Motley Fool's Joe Magyer, Michael Olsen, and Rex Moore were in attendance and talked to several value investors. In today's video, Joe chats with Wedgewood Partners' David Rolfe about the biggest lesson -- and misconception -- surrounding Warren Buffett.

Rex Moore and Joe Magyer own shares of Berkshire Hathaway. Joe also owns shares of Coca-Cola. The Motley Fool recommends Berkshire Hathaway and Coca-Cola and owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.