The billionaire, as chairman of Berkshire Hathaway, has helped produce a compounded annual gain of nearly 20% over 59 years. All of this happened because of Buffett's keen eye for a quality stock and his unending patience.

There are a few key numbers investors will be watching when Berkshire reports its second-quarter results, expected on Saturday, Aug. 2. Berkshire's operating earnings from its businesses is the most obvious example. There's also the company's cash stockpile, which reached an all-time high of $347.7 billion at the end of the first quarter.