Warren Buffett's Berkshire Hathaway (NYSE: BRK-B)(NYSE: BRK-A) has continually reminded investors to remain with their "circle of competence" or said another way, what they are well-versed in and good at. Warren Buffett has practiced what he preaches, but the companies under Berkshire's umbrella heed this advice as well.
In the following video, Motley Fool Financials Bureau Chief Matt Koppenheffer visits the exhibition floor at the annual Berkshire Hathaway shareholder meeting in Omaha, Nebraska. This year, over 40 of Berkshire Hathaway's operating subsidiaries set up exhibits and allowed investors to see their latest products and innovations. During the meeting, Warren Buffett and his business partner, Charlie Munger, took questions from shareholders for nearly six hours and provide their thoughts on everything from investing, corporate governance, and personal success. Touring the floor, Matt stops by the Brooks exhibit to discuss the company's turnaround efforts and how focusing on its niche market has led to out-sized results.
