Berkshire share gains may offer Buffett cover at annual meeting

A ho-hum stock market so far this year may be just what Berkshire Hathaway (BRK-A)(BRK-B) shareholders needed. As they gather this week at the sprawling conglomerate's annual meeting in Omaha, Nebraska, and rub shoulders with its iconic chairman, Warren Buffett, the fact that its shares are once again beating the broader market should help dim the sour memory of its recent run of underperformance. Last year, for the first time in nearly half a century, the gain in Berkshire's book value over five years - Buffett's preferred measure of performance - lagged the total return of the S&P 500 (.SPX). Buffett himself concedes his company is just not built to run neck and neck with the kind of raging bull market that produced a 128 percent total return for the S&P from the end of 2008 through 2013.

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