Warren Buffett doesn't own every stock he likes or that would fit with his investing strategy. There are simply too many stocks out there.

Many investors, however, will still mimic the moves his company Berkshire Hathaway makes and buy the stocks Buffett buys. The problem is that if you're copying those moves, a stock's value might have changed drastically by then, which will affect your return.

Instead, what investors might want to do is focus on stocks that aren't in Berkshire's portfolio but that have the same attractive features many Buffett-type stocks possess, such as strong fundamentals, brand power, and predictable earnings growth. And by taking this approach, you can find some excellent stocks to buy and hold, building up your own portfolio of Buffett-type investments.

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Source Fool.com