Some of Warren Buffett's basic investment strategies:

- Invest in a business that is simple and understandable, such as soft drinks, candy stores, and banks.

- Invest in companies with a consistent operating history and favorable long-term prospects, such as Federal Home Loan Mortgage, Gillette, and Coke.

- Invest in companies that have an international franchise and strong growth prospects, such as Coke, McDonalds, and Gillette.

- Invest in companies that have a strong management team whose priority is to run an efficient operation in order to increase shareholders’ stock value, such as GEICO Insurance, Wells Fargo Bank, and Disney.

A stock price that is considerably below the real value of the company is a big plus too.

Berkshire Hathaway is currently going for about $2,475 a share, at a 10-share minimum (!). Geez, does the word "split" mean anything to anybody?