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TheStreet Open House

5 Stocks to Buy to Be Like Buffett

Stocks in this article: PSXNOVDVAWFCBK

BALTIMORE ( Stockpickr) -- There probably isn't an investor on the face of this planet who's generated more famous quotes than Warren Buffett. Clearly, the Oracle of Omaha has two gifts: investing and the art of making the complex simple.

Some prescient favorites include: "Be fearful when others are greedy, and be greedy when others are fearful" and "It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction."

So it makes sense if we hang out with everyone's favorite octogenarian billionaire for a moment and peer into the stocks his firm, Berkshire Hathaway (BRK.B) is adding to its portfolio right now.

>>View Warren Buffett's Portfolio

It's a little bit misleading to put all of the focus on Buffett. His addition of former hedge fund managers Todd Combs and Ted Weschler to Berkshire's investment team means that the new faces likely had a big influence in picking up new positions for the firm. But attentive investors would do well to remember that there probably aren't any better Buffett-esque investors than the ones that Buffett hand-picked himself.

In the second quarter, Berkshire was particularly selective, only clicking "buy" on 10 individual stocks while unloading or leaving alone nearly 30. That means that there's some significance to the names Buffett and company are adding to the portfolio now.

>>5 Stocks Poised for Big Breakouts

Today, we'll focus on five names that are either newly initiated positions or position increases for Warren Buffett's portfolio at Berkshire Hathaway.

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