Fool friend and corporate governance expert Nell Minow had an exclusive sit-down with Berkshire Hathaway's (NYSE: BRK-A) (NYSE: BRK-B) Warren Buffett in his Omaha offices. Nell, editor and cofounder of The Corporate Library, interviewed Buffett for TCL's 2010 Public Funds Forum in September 2010.

Their interview covers a very wide range of topics -- from philanthropy to investing to CEO pay and boards of directors. With Nell's permission, we are making portions of the video interviews available to our audience.

In the excerpt below, Nell and Warren discuss whether it's possible to have a good CEO overcome a bad business, thinking like an owner, CEO compensation, and how Buffett "got into the wrong business." (Note: The video runs 13 minutes, 35 seconds.)

Berkshire Hathaway is a Motley Fool Inside Value recommendation. Berkshire Hathaway is a Motley Fool Stock Advisor pick. The Fool owns shares of Berkshire Hathaway and has a disclosure policy.