As always, Buffett shared insight into Berkshire's operations and plenty of wisdom. Buffett just identified the biggest threat to Berkshire Hathaway. Before I go any further, let me first explain what the biggest threat to Berkshire isn't.

Warren Buffett is celebrating the successes of Berkshire Hathaway’s companies last year and in the 60 years since he took over a struggling New England textile company and began converting it into a massive conglomerate.