Warren Buffett's Net Worth Would Be $100 Billion Right Now if Not for This

When it comes to investment gurus, Warren Buffett often finds himself at the top of the pecking order -- and for good reason. After having less than $10,000 in the bank in the mid-1950s, Buffett today sports a net worth of $73.4 billion, according to data from Forbes. Buffett's investment holding conglomerate Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B) has often outpaced the broad-based S&P 500 in terms of book value appreciation over the past 50 years.

What makes Buffett's claim to fame so interesting is that he isn't using any fancy methods to screen for the stocks he buys. Instead, he simply looks for well-run businesses with clear long-term competitive advantages that he can buy in Berkshire Hathaway's portfolio and sock away for years or decades. Some of the best examples include beverage giant Coca-Cola and banking behemoth Wells Fargo (NYSE: WFC), which have both been steady holdings for nearly three decades and are responsible for generating the hundreds of millions of dollars Berkshire pockets in dividend income each quarter.

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Source: Fool.com