Warren Buffett is a money man -- in multiple ways. While his Berkshire Hathaway operates in a wide range of sectors, it's categorized in the financial services sector because of its huge insurance businesses.

While it won't make you a billionaire overnight, following these 5 principles can lead to better long-term investments.

Since launching a new stake in the U.S. oil producer Occidental Petroleum ( OXY -2.09%), Berkshire has bought the stock like there is no tomorrow. Occidental is the sixth-largest position in Berkshire's portfolio, and Berkshire now owns over 28% of outstanding shares.

The roughly $78 billion the Oracle of Omaha has spent buying this stock since mid-2018 decisively signals it's his favorite.

If you're dreaming of homeownership but struggling to save that down payment, Warren Buffet has some advice for you. Yes, the Oracle of Omaha might be one of the wealthiest people in America, but

Berkshire's top income producers this year will almost certainly be Bank of America, Coca-Cola, and Chevron. American Express and Apple should also generate significant dividend income for Buffett's company.

Buffett invested in Heinz in 2013 and two years later, Heinz merged with Kraft Foods. He bought 326 million shares during this merger at a cost of around $24.6 billion. He has held on to that stake, which is now worth $11.4 billion.

Warren Buffett, the legendary investor known as the "Oracle of Omaha," continues to make waves in the financial world even as he approaches his mid-90s. His company, Berkshire Hathaway, has been