Warren Buffett has never claimed to be able to predict what the stock market would do over the near term. In a 2008 op-ed for The New York Times, he wrote, "I can't predict the short-term movements of the stock market. I haven't the faintest idea as to whether stocks will be higher or lower a month, or a year, from now."

Buffett doesn't mind sharing his investment philosophy, and comments regularly about his commitment to quality companies over the long term and his general belief in these companies -- through both bull markets and bear markets.

Warren Buffett's stock picks may be anything but flashy, but that's kind of the point. Given enough time, value performs. And in the case of Buffett's Berkshire Hathaway, it often outperforms. You'd be wise to borrow some of his ideas whenever possible.

Berkshire Hathaway's outsized returns -- a greater than 5,500,000% gain for the company's Class A shares (BRK.A) since the mid-1960s -- have made Warren Buffett a popular investor to follow. Buffett has been a decisive net-seller of equities,

Two historically cheap market leaders in the 43-stock, $315 billion portfolio the Oracle of Omaha oversees at Berkshire Hathaway are ripe for the picking.