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 (DJINDICES:^DJI). Since 1964, the per-share book value of his conglomerate, Berkshire Hathaway (NYSE:BRK.B) 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 (NYSE:BAC) has become Berkshire's fifth largest stock holding, even though the common shares don't show up on its balance sheet.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.