How to Invest Like Warren Buffett

Warren Buffett's investment strategy is simple in theory can be less so in execution, says Morningstar. The Oracle of Omaha buys businesses, not stocks. In other words, think like a business owner, not someone who owns a piece of paper (or these days, a digital trade confirmation). Look for companies with competitive advantages that can be maintained, or economic moats. Firms that can successfully fend off competitors have a better chance of increasing intrinsic value over time. Focus on long-term intrinsic value, not short-term earnings. What matters is how much cash a company can generate...