If you're an individual investor looking for good places to put your money to work, you really couldn't pick a better mentor than Warren Buffett. Since he took the helm of Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) in 1965, its stock price has risen at a rate of more than 20% annually.

Other investing gurus have achieved higher rates of return over much shorter time frames, but nobody can hold a candle to Buffett's level of consistency. Picking stocks with durable competitive advantages is a strategy that's allowed Berkshire Hathaway to deliver legendary gains over time.

That said, those stock prices don't always go up in a straight line.

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Source Fool.com