Berkshire Hathaway doesn't pay a dividend, its cash pile keeps growing, and Buffet says it's gotten too big to make acquisitions that can impact the company. Meanwhile, utility ETFs have a steady 3.5% dividend yield. Which will be the better-performing investment going forward?

Topics covered include:

How has Berkshire Hathaway performed relative to the S&P 500 Index and other active managers
Why Warren Buffett believes Berkshire's electric utility holdings were a mistake
Why California has some of the highest utility rates in the U.S.
Why Berkshire Hathaway will eventually need to pay a dividend even though it doesn't currently
Going forward, will it be more profitable to invest in Berkshire Hathaway, a utility ETF, or an index fund