Picking Buffett's brain happens a number of ways. Quarterly filed Form 13Fs allow investors to see which stocks he and his top advisors, Todd Combs and Ted Weschler, have been buying and selling. Likewise, Berkshire's quarterly operating results provide insight on whether Buffett and his team are net buyers or sellers of stocks.

In this year’s letter, Buffett addressed the U.S. government while touching upon Berkshire Hathaway’s sizable tax payments. The company paid the IRS a staggering $26.9 billion last year—about 5 percent of what all of corporate America paid, noted the executive.

Doug and Lee talk about Warren Buffett's most recent letter to shareholders. They focus on Berkshire Hathaway's strong earnings, its large cash reserves that suggest the market might be cautious, and Buffett's planned investments in the alcohol,