1 Company Following Warren Buffett's Rules to Be the Next Berkshire Hathaway

In his most recent letter to Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) shareholders, Warren Buffett spelled out some of the biggest reasons many conglomerates have been bad investments over the years, and how Berkshire is different. And it's tough to argue that Berkshire has performed like the typical conglomerate. Its stock has generated 20% annualized returns for investors since 1965, more than twice that of the S&P 500.