NEW YORK (TheStreet) -- There are the people who invest in the stock market and stick with it through good and bad. Then there are the people who invest in "things."
Legendary investor Warren Buffett has a positive outlook on the stock market, especially with the Standard & Poor's 500 index in record territory.
Buffett is especially bullish on railroads, starting with Norfolk Southern. To be pitching railroad stocks means being bullish on the American economy. "As long as more goods move from place to place in this country, rails are going to get their share," stated Buffett in a recent CNBC interview.
Buffett has become one of the richest men in history through investing in basic industries -- things he can understand, be they railroads, Coca-Cola (KO) or Wells Fargo (WFC).
However, there are those who travel a different path, or in this case gridiron.
Meet Warren Sapp.
After many years in the NFL, Warren Sapp is a Hall of Fame defensive tackle and is a pro football commentator. When he filed for bankruptcy, he listed over 200 pairs of Air Jordan sneakers as "assets." Sapp would have been much better off buying shares of Nike (NKE), which makes Air Jordans, rather than hundreds of pairs of the shoes, a less-than-liquid investment.
Buffett does prefer to buy shoe companies, as well as others that sell everyday products. His investment vehicle, Berkshire Hathaway (BRK.A), bought Dexter Shoes in 1993, a deal he later called one of his worst years later. But he did better when he owned more than three million shares of Nike.