NEW YORK ( TheStreet) -- This week, two of Berkshire Hathaway's ( BRK.A) largest holdings, Coca-Cola ( KO) and Wells Fargo ( WFC)), lived up to Warren Buffett's expectations, releasing strong earnings reports that beat analyst expectations. The financier has held stock in both KO and WFC since the late 1980s.Warren Buffett is both a diehard proponent and major beneficiary of the buy-and-hold investing strategy. Although not as exciting or fast paced as trading, Buffett's ability to pick out and buy companies such as Coca-Cola, Wells Fargo, and American Express ( AXP) on the cheap and allow them to increase in value over years and decades has been essential to the creation of his $40 billion fortune. Buffett has explained in the past that his favorite time period for holding shares of a company is "forever." Living up to this creed, when the investor purchased Burlington Northern Santa Fe Railroad in late 2009, he explained that the deal would provide Berkshire Hathaway ( BRK.A) with stable returns for 100 years. Although this technique has paid off for the Oracle of Omaha, critics of buy and hold often point to the fact that the famous financier took advantage of this method during a time that was very unlike the one we live in now. In today's volatile global marketplace, opponents feel that investors can no longer buy shares of a company, sit back, and watch those shares grow in value. To that critique I note that, with the introduction of ETFs, the buy-and-hold method has been able to evolve over the years to accommodate these changes to both the investing landscape and the retail investor mindset. With the exception of leveraged ETFs, which are designed to be held for short periods of time by market professionals and day traders, the recent dramatic growth of the exchange traded fund industry was fueled in large part by funds designed to be bought and held for the long run, rather than traded in and out of quickly. The growing field of active and pseudo active funds, such as First Trust's line of AlphaDex funds and PowerShares' Dynamic suite of products, employs an active manager or a "smart" indexing strategy to screen for outperforming companies and sectors, allowing investors to put their money into a fund and over time watch that money grow.