It's his job to be strategic about buying and selling, but Buffett also said he can understand an investor who will make a few good investments and hold on to them forever. That could be the right decision for many investors who don't have Buffett's day job.

Warren Buffett's buy-and-hold investing style consistently beats the market. You don't need to be a billionaire to invest like the Oracle of Omaha. If you're looking for solid investing advice, one of the best sources is the legendary Warren Buffett.