The following video is part of our "Motley Fool Conversations" series, in which consumer goods editor/analyst Austin Smith discusses topics across the investing world.

In today's edition, Austin goes over the three biggest things that stood out to him from the Berkshire Hathaway annual letter to shareholders. Of course, there is far more to be learned from this letter, but Austin talks about the three most important to him. Watch the video below to learn his key takeaways.

Austin Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of Bank of America, Berkshire Hathaway, International Business Machines, and Wells Fargo; and has the following options: short APR 2012 $21.00 puts on Wells Fargo, short APR 2012 $21.00 puts on Wells Fargo, short APR 2012 $29.00 calls on Wells Fargo, and short APR 2012 $29.00 calls on Wells Fargo. 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.