Everyone knows that Warren Buffett is one of the greatest investors ever. The guy's not known as the Oracle of Omaha for nothing. But while shares of his Berkshire Hathaway company look relatively cheap in terms of their price multiples, the actual stock price might be a stretch for most people: Berkshire's A shares (BRK-A) currently go for around $140,000 a pop, while the B shares (BRK-B) will set you back roughly $4,690 apiece.

Buffett groupies
The good news is that you can get more affordable access to Buffett and his collection of subsidiaries and equity holdings -- a lineup that includes Wal-Mart, Coca-Cola (NYSE:KO), and Target (NYSE:TGT) -- for smaller sums. How so? Via mutual funds that hold Berkshire shares in their portfolios.

Ariel Focus (ARFFX), for example, recently had some 7% of its assets plunked down on Berkshire B shares. The fund rounds out its portfolio with the likes of Illinois Tool Works (NYSE:ITW) and Toyota (NYSE:TM). Oak Value (OAKVX), meanwhile, runs with a Berkshire weighting at more than 7% of assets and, if you invest via an IRA, has a $1,000 minimum. Buy shares of this puppy, and in addition to Berkshire, you'll be investing in a portfolio that holds Johnson & Johnson (NYSE:JNJ) and Oracle (NASDAQ:ORCL), too.

If those funds don't provide quite enough Buffett for you, no worries. In Motley Fool Champion Funds, we've recommended a fund that packs more than 17% of its assets into Berkshire Hathaway. And this fund, too, can be had (via an IRA) for a mere $1,000.

In the interest of protecting value for our members, we tend to keep our newsletter's recommendations close to the vest. But if you want the inside scoop on this pick and all of our others, no problem. Just click here for a free 30-day guest pass.

Fund your future
In the meantime, add "access" to the list of winning traits that make investing in a world-class portfolio of mutual funds a great way to begin -- and continue -- your career as an investor. In addition to the likes of Berkshire, funds also open the door to areas of the market that might lie outside your circle of investing competence.

If you're looking to dial up your exposure to, say, equities plucked from the world's developing economies, or even industries in your own back yard that you may not fully understand -- biotech and nanotech come to mind -- terrific funds led by stock pickers who do understand them can be had, provided you know where (and how) to look.

Funds with high expense ratios and rookie managers should be avoided, for example, as should most funds that pack tons of assets into narrow areas of the market. Quick and easy diversification is another built-in advantage of well-chosen mutual funds.

Champion Funds is a great place to start your search. Since it opened for business in March 2004, its recommendations have returned an average of 33%, vs. 19% for equal amounts invested in the S&P 500. Again, you can check out all the recommendations with a no-obligation, 30-day free trial. Here's more info.

This is adapted from a Shannon Zimmerman article originally published on Aug. 15, 2006. It has been updated.

Rex Moore is an analyst with Motley Fool Stock Advisor. At the time of publication, he owned shares of Berkshire Hathaway and Johnson & Johnson. The Motley Fool owns shares of Berkshire Hathaway. Berkshire Hathaway, Wal-Mart, and Coca-Cola are Inside Value selections. Johnson & Johnson is an Income Investor recommendation. You can check out the Fool's strict disclosure policy by clicking right here.