Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett's financial track record is legendary. The Omaha, Nebraska, native has led his company to market-crushing success through multiple decades and informed and inspired millions of investors around the world.

Strikingly, the famous moneyman has delivered incredible returns while largely avoiding the time-honored practice of portfolio diversification. Buffett does advocate diverse holdings for less-experienced investors, calling it "protection against ignorance." But for investors who know what they are doing, he says it makes little sense. For this experienced investor, roughly 57.4% of Berkshire's $367.5 billion portfolio is concentrated in just two stocks.

Read on as two Motley Fool contributors explain why Buffett has placed huge bets on a duo of industry-leading companies.

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Source Fool.com