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Everyone knows Warren Buffett is ridiculously wealthy, but how he got so wealthy is less obvious. Yes, Buffett has made a fortune investing in stocks, but his simple and consistent process he uses is the main reason for his success.

In the following video, Motley Fool analysts Matt Koppenheffer and David Hanson discuss the lessons they learned from Warren Buffett while attending the annual Berkshire Hathaway shareholder meeting in Omaha, Nebraska. During the meeting, Warren Buffett and his business partner, Charlie Munger, field questions from shareholders for nearly 6 hours and provide their thoughts on everything from investing, corporate governance, and personal success. The discussion around what it takes to be a success long-term investor was particularly interesting as Buffett reinforced the need to be patient and embrace the boring aspects of the process. Many investors often believe they need to understand every complex financial product in order to build wealth over time. Buffett reminds us that common sense still wins out.

David Hanson owns shares of Berkshire Hathaway. Matt Koppenheffer owns shares of Berkshire Hathaway. The Motley Fool recommends Berkshire Hathaway. The Motley Fool owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.