In the world of investing, Berkshire Hathaway CEO Warren Buffett has earned legendary status for his investment performance over half a century. Berkshire's 2022 annual report says that since taking over Berkshire in 1965, Buffett has returned investors 3,787,464% as of the end of 2022. In other words, if you invested $100 in Berkshire when he took over, you'd have over $3.78 million today.

Buffett knows a thing or two about investing in quality companies with good management teams that can succeed in the long run. With that said, Buffett and his team at Berkshire are human and occasionally get stock picks wrong. Two Buffett stocks, American Express (NYSE: AXP) and Moody's Corporation (NYSE: MCO), stand out as excellent holdings no matter what the economy does, while Ally Financial (NYSE: ALLY) should be avoided for the time being.

American Express provides customers with credit card services and loans. Brand recognition is one trait that Buffet loves about the companies he invests in. Buffett invested billions in highly recognizable companies like Apple and Coca-Cola and said, "You can't create another American Express." 

Continue reading

Source Fool.com