Warren Buffett doesn't keep his investing strategies a secret. He spills a lot of his thoughts in his annual Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) shareholder letter, and investors carefully scour it for Buffett's nuggets of wisdom. But despite his immense success, his advice often comes across as contrarian to standard Wall Street beliefs. That's one of the reasons it's so valuable.

He sprinkled plenty of insightful comments throughout this year's letter, reiterating many of the ideas he usually tries to hammer home. He clarified a particular feature that Berkshire favors for its portfolio -- but he says that companies with this feature are "rare enterprises."

What's this magic feature? These are Buffett's words:

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Source Fool.com