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According to John Reeves, writing for the Motley Fool, the genius of Mr Buffett's investment strategy is that he has bought undervalued stocks and shares in great companies such as Gilette, Walt Disney and American International Group.
Mr Reeves says those who are starting an independent investment career need to develop the ability of identifying profitable companies if they are to generate strong returns.
Buffett himself advises investors to look for businesses that produce significant cash profits and deliver exceptional returns on capital.
Forbes reports that Mr Buffett's fortune has increased to $62 billion (£31.5 billion), up by $10 billion in the last year alone. This makes him the world's richest man, followed by Carlos Lim Helu and Bill Gates.
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