1 Thing Warren Buffett and Berkshire Hathaway Inc. Are Willing to Pay Extra For

Berkshire Hathaway billionaire Warren Buffett has been consistent over the years, even in the way he changes.

Rex Moore
Rex Moore
Jul 10, 2014 at 7:05AM

In the 44 years Warren Buffett has been at the helm of Berkshire Hathaway (NYSE:BRK-A) (NYSE:BRK-B), he's remained remarkably consistent in several key areas, including a long-term focus, preference for top-notch management, staying in his circle of competence, humility, and a love for Cherry Coke.

Ironically, one of Buffett's greatest consistent traits is his willingness to change when he sees a better way of doing things.

At the Berkshire Hathaway annual meeting in Omaha, Motley Fool analyst Matt Koppenheffer and I spoke with Andy Kilpatrick about all things Buffett. In this video Kilpatrick, the author of Of Permanent Value: The Story of Warren Buffett, talks about two major changes he's seen in the Oracle of Omaha.

The first is a shift away from the Benjamin Graham method of buying good businesses at great prices, and toward paying fair prices for great businesses. The second is the preference to buy whole businesses instead of stocks.

We rate Berkshire Hathaway a "buy"
Berkshire Hathaway is one of the stalwart holdings in Motley Fool Stock Advisor, a service in which the average recommendation has returned 162% since inception. By comparison, equal amounts invested in the S&P 500 would have returned 55%. Right now, you can join today and receive full access to every stock pick -- including two brand new recommendations from David and Tom Gardner. Click here to start today.