With the calendar now on 2014 and resolutions abound, investors should look to legendary investor and head of Berkshire Hathaway (NYSE:BRK-A) (NYSE:BRK-B) Warren Buffett for guidance when it comes to making great investments.

Although some of The Oracle's quotes are as much as 25 years old, they still ring true today, and provide critical insight into how Buffett has built Berkshire Hathaway and grown the value of his company by 586,817% over the last 47 years.

In the presentation below, we look at quotes that provide clarity into why he has taken such massive positions in ExxonMobil (NYSE:XOM), IBM (NYSE:IBM) and Wells Fargo (NYSE:WFC) and help solidify what exactly Buffett is looking for and doing when he buys shares of companies.