30 years ago, Warren Buffett's Berkshire Hathaway (NYSE:BRK-B)(NYSE:BRK-A) was mainly a holding company that invested in public stocks. Fast forward to today, and Berkshire now owns and controls multiple companies that are extremely important to the infrastructure of the United States. One of the largest companies in this mix is Berkshire Hathaway Energy (formerly MidAmerican). Through acquistions, Berkshire Hathaway Energy has been able to expand its electric-utility footprint, as well as expand into areas like wind energy.
In the following video, Motley Fool Associate Advisor Alex Scherer visits the exhibition floor at the annual Berkshire Hathaway shareholder meeting in Omaha, Nebraska. This year, over 40 of Berkshire Hathaway's operating subsidiaries set up exhibits and allowed investors to see their latest products and innovations. During the meeting, Warren Buffett and his business partner, Charlie Munger, took questions from shareholders for nearly six hours and provide their thoughts on everything from investing, corporate governance, and personal success. Touring the floor, Alex stops by the Berkshire Hathaway Energy exhibit to discuss the company's latest purchase.
Warren Buffett just bought nearly 9 million shares of this company
Imagine a company that rents a very specific and valuable piece of machinery for $41,000... per hour (that's almost as much as the average American makes in a year!). And Warren Buffett is so confident in this company's can't-live-without-it business model, he just loaded up on 8.8 million shares. An exclusive, brand-new Motley Fool report details this company that already has over 50% market share. Just click HERE to discover more about this industry-leading stock... and join Buffett in his quest for a veritable landslide of profits!
Alex Scherer, CFA owns shares of Berkshire Hathaway. Rex Moore owns shares of Berkshire Hathaway. The Motley Fool recommends Berkshire Hathaway. The Motley Fool owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.