The annual Value Investor Conference is one of the premier events surrounding Berkshire Hathaway's (BRK.B -0.46%) annual meeting in Omaha. The Motley Fool's Joe Magyer, Michael Olsen, and Rex Moore were in attendance and talked to several value investors.

In today's video, Joe chats with Wedgewood Partners' David Rolfe about the competitive advantages of GEICO's business model.