This Buffett Stock Just Invested in the Marijuana Industry

Warren Buffett is largely recognized as one of the most successful investors of our generation. In a span of about 65 years, Buffett grew his net worth from about $10,000 to north of $82 billion, and in doing so helped to create more than $400 billion in value for shareholders of his conglomerate Berkshire Hathaway (NYSE: BRK-B) (NYSE: BRK-A). Buffett has been the CEO of Berkshire for five decades.

Perhaps the thing that's most interesting about Buffett is that his investing strategy is as simplistic as it gets. No fancy charting software, no hostile takeovers, and no dart throws here. Instead, the "Oracle of Omaha," as he's now known, focuses on a handful of industries and sectors that he understands very well, and buys into businesses that he believes have competitive advantages. After buying, Buffett simply allows time to work its magic. Of Berkshire Hathaway's top holdings, some have been held for more than 30 years and counting.

Berkshire Hathaway CEO Warren Buffett at his company's annual shareholder meeting. Image source: The Motley Fool.

Source Fool.com