It pays to follow which stocks Warren Buffett is buying. His holding company, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), has averaged double-digit annual returns for decades.

What is Buffett and Berkshire buying today? Two stocks in particular stick out. While technically competitors, they each control a huge chunk of a growing, highly profitable market. Investors have already greatly profited from these two stocks, but it's not too late for you to jump in.

If Warren Buffett has taught the market anything, it's to buy businesses that continue to grow for far longer than anyone anticipates. Sure, some stocks zoom in value over a period of months or years. However, compounding consistent growth over decades is the most reliable method of producing long-term wealth.

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Source Fool.com