Over the course of an investing career that has spanned more than half a century, Warren Buffett has obliterated the S&P 500 and the Dow Jones Industrial Average (DJINDICES:^DJI). Since 1964, the per-share book value of his conglomerate, Berkshire Hathaway (NYSE:BRK-B) has risen by a factor of nearly 7,000 for an annualized return of nearly 20%.
The following presentation asks -- and answers -- seven questions that probe various aspects of that exceptional result. You'll also learn why Berkshire Hathaway isn't worth twice its current market value and why Bank of America (NYSE:BAC) has become Berkshire's fifth largest stock holding, even though the common shares don't show up on its balance sheet.
Alex Dumortier, CFA, has no position in any stocks mentioned. The Motley Fool recommends American Express, Bank of America, Berkshire Hathaway, Coca-Cola, Costco Wholesale, Ford, and Wells Fargo; owns shares of Bank of America, Berkshire Hathaway, Coca-Cola, Costco Wholesale, Ford, IBM, and Wells Fargo; and has options on Coca-Cola. 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.