What do all Berkshire Hathaway companies have in common?
They are profitable, safe and solid.
They are easy to understand with simple business models.
They produce plenty of cash flow to reinvest.
They are unique businesses with strong market positions and franchises.
They have solid, trustworthy management.
They were bought at reasonable prices.
We ordinary value investors can't assemble this kind of portfolio, but we can learn from what makes Berkshire Hathaway and its master tick.
Ref: Berkshire Hathaway's SEC filing
http://www.hoovers.com/free/co/secdoc.xhtml?ID=10206&ipage=6253178
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