Warren Buffett is known for stock picking, selecting excellent long-term companies trading at reasonable or even dirt cheap prices and holding on for the long term. Using this strategy, he's helped Berkshire Hathaway 's portfolio to achieve a compounded annual gain of almost 20% over the past 58 years. This is compared to the compounded annual increase of 10% for the S&P 500 index. But Buffett also is a strong believer in another investing move that's a lot easier than stock picking -- it doesn't require research, specific knowledge of a particular company or industry, and it's proven itself to be a winner over time.
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