According to billionaire investor Warren Buffett, achieving excellent returns as an investor is mainly about buying wonderful businesses and holding them for many, many years. The CEO of Berkshire Hathaway has trounced the S 500 over decades using that approach, creating many millionaire shareholders in the process.

One of Buffett's favorite stocks is a consumer staples company that already enjoyed a dominant market position when he bought shares in the early 1990s. By 1994, Berkshire had accumulated 400 million shares of the company for a total outlay of $1.3 billion. That investment has grown into one of Buffett's biggest portfolio holdings and now returns over $700 million in annual dividend income alone.

The stock in question is Coca-Cola (NYSE: KO). Although the soda giant's growth prospects aren't as strong today as they were 30 years ago, it's still an attractive buy for investors. Let's look at some reasons why you might want to follow Buffett into this holding.

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Source Fool.com