Warren Buffett's investing philosophy is to hold for the long term -- and it has paid off handsomely.

Warren Buffett's investing career is one of legend. The Oracle of Omaha took over what was a struggling textile company 60 years ago and turned it into a mammoth conglomerate with a market capitalization of more than $1 trillion -- making it one of less than a dozen companies that have reached that milestone.

While Berkshire Hathaway ( BRK.A 0.02% ) ( BRK.B -0.09% ) is heavily involved in insurance, railroads, utilities, and energy, the company derives a significant fraction of its value from its investment portfolio, which is today worth more than $300 billion. Right now, it includes positions in more than 40 companies.

Buffett's investment strategy is fairly simple. He

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