Warren Buffett started out looking for deep value but then shifted toward paying reasonable prices for great companies. It's not a bad plan, based on the Oracle of Omaha's long-term track record. Keep that in mind when you look at consumer-staples giant Procter Gamble (NYSE: PG). Here's why you might want to buy the stock and why you might want to wait. And if you own it, you probably shouldn't sell it.

Procter Gamble controls some of the most iconic consumer-staples brands in the world, including Bounty, Crest, Tide, and Pampers, among many others. If you've been to a grocery store, you've seen, and probably purchased, one of the company's products. With a $370 billion market cap, it's quite literally among the largest companies in the global staples category.

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Source Fool.com