Berkshire Earns Billions From International Bets

For decades, Warren Buffett said he didn't need to look overseas to find investment opportunities as he had enough on his doorstep in the United States. Plus, it was a market he understood well. If there's one thing the Oracle of Omaha tries to avoid at all costs, it's investing in something he does not understand.

However, over the past five years, Buffett has deployed tens of billions of dollars of Berkshire Hathaway's capital into international equity markets.

It's not exactly clear why Buffett had this change of heart. He has made limited investments in international markets in the past. A...