For many investors, May is value investing month. It's when the cheapskates come together to celebrate all things Warren Buffett and Charlie Munger at the Berkshire Hathaway annual meeting in Omaha.

And yet history shows that sometimes the best value stocks are expensive at purchase. That's certainly been true of Apple (NASDAQ:AAPL) in years past and (NASDAQ:AMZN)for, well, ever. Both stocks have shown investors generous returns despite having traded for more than 100 times earnings at various points in their history, says Tim Beyers of Motley Fool Rule Breakers and Motley Fool Supernova in the following video.

Don't obsess over strict value investing principles. Instead, follow Buffett's own advice to avoid spending time valuing declining businesses. Look for rich opportunities led by healthy, growing enterprises such as Apple and Netflix (NASDAQ:NFLX), which Tim says are his top two holdings.

Do you adhere to strict value investing principles? Please watch the video to get Tim's full take, and then talk about your top two holdings in the comments box below.