Warren Buffett was born in 1930, and he bought his first stock at age 11. By 1965, he was running his own investment company called Berkshire Hathaway, which he still leads today.

Buffett has steered Berkshire to a total return of 4,384,748% over the last 58 years, which would have been enough to turn a $1,000 investment into more than $43.8 million. The same investment in the S 500 index over the same period would be worth just $312,230.

Berkshire's incredible run of success stems from a simple strategy. Buffett likes to own companies with steady growth, sound profitability, and strong management teams. He especially likes companies returning money to shareholders through dividends and stock buybacks. One thing he has never done is chase the latest stock market trend, whether it be the internet, cloud computing, or now, artificial intelligence (AI).

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Source Fool.com