Warren Buffett's first 5K

Berkshire Hathaway spent some time promoting its sneaker brand Brooks at its annual meeting.

FORTUNE -- I ran three miles in Warren Buffett's shoes.

For the first time, this past weekend, Berkshire Hathaway (BRKA) hosted a five-kilometer run on the Sunday of its annual meeting. I ran. Buffett did not.

But he was there to shoot the starting gun, give out awards and add, of course, some folksy charm. Berkshire has owned sneaker company Brooks since 2006. But until last year, it was a division of underwear company Fruit of the Loom, which is also owned by Berkshire. Last year, Buffett spun Brooks out into its own operating company and began more aggressively promoting the company, at least at Berkshire's annual meeting.

The running shoe company is trading on Buffett's popularity as well. There's a drawing of Buffett running on the inside of the shoe, and it says "Berkshire Hathaway" on the side.

This guy got into the spirit.

Brooks CEO Jim Weber says he likes directly reporting to Buffett. He meets with Berkshire's CEO twice a year, including once at the annual meeting. "If we need him to talk through strategy, he's always available," says Weber. "What I like the best is that I know this is our last owner."

MORE: Warren Buffett is bullish ... on women

Berkshire is known for rarely selling companies. But at the annual meeting this year, some people speculated about a breakup after Buffett is no longer running the company. Buffett said he didn't think that would happen but said it would be up to his successor.

Weber says Buffett has been very supportive of Brooks's focus on the high end of the running shoe market. "It creates a moat," says Weber, referring to a Buffettism about the things that protect businesses from competition. "He likes that." Though he struggled with the question as to what business advice Buffett has given him, or what Buffett has advised him to do differently.

Nonetheless, Brooks's focus seems to be working. Weber says sales, which are up 34% from a year ago, will crack $500 million in 2013. And he thinks the company is on the path to double that in the next few years in part because it is spending a lot of money on research. Its newest line of shoes are light-weight, playing to the whole barefoot running movement.

Brooks CEO Jim Weber (on left) and Warren Buffett

And in one sense, Buffett needs Brooks to get big fast. One of the things Buffett rarely gets criticized for is that at a time when many are worried about U.S. obesity rates, and rising health care costs, many of Buffett's companies, including Dairy Queen and Coke (KO), which Buffett has long been a big investor in, push sugary foods.

MORE: Vegas hedge fund powwow draws celebs

So you could see Brooks as hedge, just in case America decides it's time to get a lot healthier, though at this point it's still pretty small hedge. Even if not, Weber says he thinks Brooks fits into Buffett's philosophy about life. "We think a full life is a See's candy followed by a run," says Weber.

Berkshire's diversification: Water for the 5K was handed out in Dairy Queen cuts.

Last summer, I ran my first 5k in a number of years and finished in just over 34 minutes. It was hilly. I have been running regularly since. Brooks lent me a pair of PureCadence 2 sneakers to try out for the race. When I put them on, they were immediately comfortable. The sneakers say they have features to prevent overpronation, a condition I didn't think I had during the race, but I guess I don't know. The shoe's tongue is fully attached on one side, so you can't pull it up to get your foot in, which I thought would be annoying, but it wasn't. I finished the race in 29 minutes and 46 seconds.

It must have been the shoes.

Posted in: athletic apparel, Berkshire Hathaway, Brooks, shoes, Warren Buffett

• Munger: It's time to break up the banks

  Warren Buffett's chief lieutenant, Charlie Munger, says Brown-Vitter won't work.

  FORTUNE -- Add Charlie Munger to the list of top financial executives who think the nation's biggest banks should be broken up.

  In an interview with CNN at Berkshire Hathaway's annual meeting, Munger, who is Warren Buffett's chief lieutenant, said he thinks the big banks are still too complicated and dangerous for the economy. But he doesn't think a recently proposed bill MORE

  Stephen Gandel, senior editor - May 6, 2013 6:00 AM ET
  Posted in: Bank regulation, Berkshire Hathaway, big banks, Brown-Viitter, Charlie Munger, Warren Buffett

• Cooperman: Bill Ackman is 'foolish'

  Famed hedge fund manager Leon Cooperman blasts fellow investor Bill Ackman on his Herbalife bet.

  FORTUNE -- The pile on continues.

  Yet another legendary investor is calling out Bill Ackman for his controversial bet against Herbalife (HLF). Late last year, Ackman made a public presentation calling the nutritional supplements company a pyramid scheme. He also said he had bet $1 billion against the company.

  Leon Cooperman, who runs hedge fund firm Omega Advisors, MORE

  Stephen Gandel, senior editor - May 5, 2013 10:47 AM ET
  Posted in: activist investors, Berkshire Hathaway, bill ackman, Hedge Funds, herbalife, Leon Cooperman, mario gabelli

• 6 things I learned at Berkshire's annual meeting

  Buffett is worried about health care costs, not banks.

  FORTUNE -- At Berkshire Hathaway's (BRKA) annual meeting on Saturday, Warren Buffett fielded questions from investors, journalists, analysts and, for the first time, invited onto the stage one investor, Doug Kass, who is betting against Berkshire's stocks. ("You haven't convinced us yet to sell our stock, but keep working," said Buffett in response to one question.) The questions ranged from those MORE

  Stephen Gandel, senior editor - May 4, 2013 5:07 PM ET
  Posted in: Berkshire Hathaway, big banks, Charlie Munger, health care costs, unemployment, Warren Buffett

• Buffett worries about Fed's 'huge experiment'

  Says he admires Ben Bernanke but thinks the Fed chief may have overplayed his hand.

  FORTUNE -- Warren Buffett has a piece of advice for Ben Bernanke: It's easier to buy than it is to sell.

  Buffett, speaking on Saturday at Berkshire Hathaway's (BRKA) annual meeting in Omaha, said he is worried about what will happen when the Federal Reserve tries to wind down its recent efforts to stimulate the economy. Via MORE

  Stephen Gandel, senior editor - May 4, 2013 3:17 PM ET
  Posted in: Ben Bernanke, Berkshire Hathaway, Charlie Munger, Federal Reserve, inflation, Warren Buffett

• At Buffett-fest, investors cautious, warming to Apple

  In Omaha, some of the Buffett faithful aren't particularly bullish on Berkshire's stock but they see value in Europe and Apple.

  FORTUNE -- Be cautious about U.S. stocks and, especially, bonds. Europe is a good value. Berkshire Hathaway's stock is no longer a buy, but Apple may be. That was the general feeling of investors gathered here in Omaha for Berkshire Hathaway's annual meeting.

  The mood about the market matched the weather, MORE

  Stephen Gandel, senior editor - May 4, 2013 11:22 AM ET
  Posted in: Berkshire Hathaway, investing, Warren Buffett

• Heinz: Buffett buyout gets even less Buffett-y

  Heinz's new CEO Bernardo Hees comes from Burger King and, before that, Buffett's buyout partner 3G. It's another move that's outside of Buffett's playbook.

  FORTUNE -- In mid-February, when the deal to buy Heinz was announced, Warren Buffett gave Heinz's CEO a vote of confidence. "I think Bill Johnson has done a very good job of running the company," Buffett told CNBC.

  Two months later, Johnson is out of a job.

  On Thursday, MORE

  Stephen Gandel, senior editor - Apr 12, 2013 11:54 AM ET
  Posted in: 3G, Berkshire Hathaway, Bernardo Hees, Bill Johnson, Burger King, Heinz, Warren Buffett

• What Buffett deal says about Goldman Sachs

  How the Oracle of Omaha turned an 18% rise in Goldman's shares into a 64% return for Berkshire Hathaway shareholders.

  FORTUNE -- We knew Goldman Sachs was wounded in the financial crisis. It may have been in more trouble than is understood.

  That's the sense you get from Warren Buffett's recently inked deal to turn the warrants Berkshire Hathaway received as part of its $5 billion investment in Goldman (GS) at the MORE

  Stephen Gandel, senior editor - Mar 28, 2013 7:30 AM ET
  Posted in: banks, Berkshire Hathaway, financial crisis, Goldman Sachs, Wall Street, Warren Buffett

• Warren Buffett stays mum on successor

  In the annual horse race, Buffett gives few clues about who will be Berkshire's next CEO.

  FORTUNE -- Warren Buffett still isn't saying who will be the next CEO of Berkshire Hathaway.

  In his annual letter to shareholders, which was released on Friday afternoon, Buffett reveals nothing new about the plan for Berkshire Hathaway (BRKA) when or if the 82-year-old executive retires. In fact, the only section in which Buffett talks about MORE

  Stephen Gandel, senior editor - Mar 1, 2013 4:13 PM ET
  Posted in: Berkshire Hathaway, Warren Buffett

• Warren Buffett may be souring on stocks

  The Oracle of Omaha still likes the market -- but he's hardly pounding the table.

  FORTUNE -- In his annual letter to Berkshire Hathaway (BRKA) shareholders, released Friday afternoon, Buffett says he still believes U.S. stocks will "do well." He notes that he made his first stock purchase during the bleakest part of World War II, so even if things look not so great right now, you should end up doing fine MORE

  Stephen Gandel, senior editor - Mar 1, 2013 4:03 PM ET
  Posted in: annual letter, Berkshire Hathaway, investing, Stock market, stocks, Warren Buffett