Berkshire Hathaway's Class A shares have appreciated 3,999,494% since Warren Buffett took over the company in 1965.

Berkshire Hathaway's book value has lost some relevance; the insurance business and subsidiaries like BNSF are big factors in this consideration. See why BRK.A stock is a Hold.

In a nutshell, buying Berkshire Hathaway is nearly akin to buying a broad market index fund, except there's no expense ratio and the underlying holdings are curated by a legendary investor and his handpicked team. If you're considering putting money into an index fund, consider instead simply buying some Berkshire stock.