Warren Buffett's Berkshire Hathaway (NYSE:BRK-B)(NYSE:BRK-A) has continually reminded investors to remain with their "circle of competence" or said another way, what they are well-versed in and good at. Warren Buffett has practiced what he preaches, but the companies under Berkshire's umbrella heed this advice as well.

In the following video, Motley Fool Financials Bureau Chief Matt Koppenheffer 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, Matt stops by the Brooks exhibit to discuss the company's turnaround efforts and how focusing on its niche market has led to out-sized results. 

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!

Matt Koppenheffer 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.

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