Over the course of an investing career that has spanned more than half a century, Warren Buffett has obliterated the S&P 500 and the Dow Jones Industrial Average (^DJI 0.06%). Since 1964, the per-share book value of his conglomerate, Berkshire Hathaway (BRK.B 0.54%) has risen by a factor of nearly 7,000 for an annualized return of nearly 20%.
The following presentation asks -- and answers -- seven questions that probe various aspects of that exceptional result. You'll also learn why Berkshire Hathaway isn't worth twice its current market value and why Bank of America (BAC 1.53%) has become Berkshire's fifth largest stock holding, even though the common shares don't show up on its balance sheet.
