Warren Buffett's Cost Basis on These 4 Stocks Is Shockingly Low

Over the past six decades, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO Warren Buffett has demonstrated that he knows a thing or two about investing. Since taking Berkshire's reins in 1965, he's created more than $680 billion in shareholder value and generated an average annual return -- I repeat, average annual return -- of 20.1% for his company's stock. In aggregate, investors of the company's Class A shares (BRK.A) have gained more than 3,600,000%.

While there are a number of reasons for Buffett's ongoing success, such as portfolio concentration and his love of dividend stocks, arguably the biggest key to the Oracle of Omaha's outperformance is his willingness to hold investments for long periods.

In particular, patience has been key with four Warren Buffett stocks, all of which have shockingly low cost bases, relative to where they're trading now.

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Source Fool.com