Warren Buffett Bought These 4 Dividend Stocks Years Ago. Here's What $1,000 in Each Would Be Worth Today.
American Express and Coca-Cola turned into big winners thanks to Buffett's buy-and-hold approach; Bank of America and Chevron could be next.
Overview
Warren Buffett earned the nickname the Oracle of Omaha, with the 6,099,294% gain of Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) under his leadership showing why. The S&P 500 index (SNPINDEX: ^GSPC) rose 46,061% over the same period. Looking at Buffett's approach can provide a good foundation for your own investment approach.
Simply put, Buffett liked to buy well-run businesses while they were attractively priced. But the real secret sauce is that he held for the long term, which allowed him to benefit from a business's growth over time. American Express (NYSE: AXP) and Coca-Cola (NYSE: KO) highlight why you don't want to overlook this step, even if it means holding through bear markets. Chevron (NYSE: CVX) and Bank of America (NYSE: BAC), two relatively new purchases, are building their track records.
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Originally published at www.fool.com.