Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO Warren Buffett is widely regarded as one of the greatest investors of all time. His track record of beating the market for decades has earned him a loyal following of admirers and imitators. One of the key principles Buffett follows is to invest in high-quality businesses that have durable competitive advantages and can generate consistent returns over the long term. He also likes to buy these businesses at reasonable prices and hold them for as long as possible, sometimes forever.

One of Buffett's top holdings is American Express (NYSE: AXP). The credit card giant first debuted in Buffett's portfolio in 1964, when he bought a stake in the company after the infamous "salad oil scandal" that rocked the company's share price. Buffett recognized that American Express' core business was still strong and that the market had overreacted to the news. 

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Source Fool.com