Berkshire Hathaway, based in Omaha, Nebraska, started as textile mills and has grown into a major global conglomerate. The company now owns a diverse range of businesses, from insurance and utilities to railroad transportation and manufacturing. The key to Berkshire Hathaway's success is its Chairman and CEO, Warren Buffet, often called the 'Oracle of Omaha' for his smart investing. Buffet's strategy of buying undervalued companies with strong basics and holding onto them for the long haul has worked really well. Under Buffet's leadership, Berkshire Hathaway has consistently done better than the overall market. In their portfolio, Berkshire Hathaway has more than 60 companies, including big names like Geico, Duracell, and Dairy Queen. The insurance and utilities businesses bring in steady cash flow, which they use to invest in other areas. The insurance group includes companies like GEICO and National Indemnity Company, while the Berkshire Hathaway Energy segment is made up of locally managed businesses aiming to be the best energy company, serving customers and creating growth opportunities.