In this video, Andrew Tonner explains why Warren Buffett likes IBM. In short, it's understandable, it's run by some very smart people, it returns capital to its investors and buys back shares, and it's a great company selling at a fair price. Andrew says you'll probably never see IBM at a bargain price, but right now you won't pay too much for it, either.

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Andrew Tonner has no position in any stocks mentioned. The Motley Fool owns shares of IBM and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.