thank you

Based upon the data points below and your understanding of Berkshire Hathaway why, in your opinion, has this company exceeded the returns of the S&P 500 by such a substantial amount? Berkshire's Performance is the S&P 500 Ye 1965 1966 1967 1958 1969 1970 1971 1972 1973 1974 1975 1976 Annual Percentage Change in Per Share in SAP 500 Market Value of with Dividende Barkabire Included 495 100 24 (11) 13 30.4 77.3 11.0 194 184) 14.61 3.9 80 146 2.1 IN 9 0.55 (1481 264) 372 1293 236 219 28 110 24 20.0% 2.310,326. 20 1441 315 11.4 2017 2015 2019 2020 Compounded Annual Gain 165-2020 Overall Gain 1964-2020 21.4549