Since becoming chairman of Berkshire Hathaway (NYSE:BRK-A)(NYSE:BRK-B) in the 1960s, Warren Buffett has trounced the market by an almost two-to-one ratio over those 60 years. By looking for great companies trading at fair prices,

One of those value plays is Kraft Heinz ( KHC 0.72%), which trades at just 9 times forward earnings and pays a hefty forward dividend yield of 5.5%. Buffett gained 326 million shares of Kraft Heinz in 2015 after driving Kraft Foods to merge with H.J. Heinz, and he hasn't ever sold a single share.

Warren Buffett is one of the better-known and successful investors. Despite being a long-held position of Berkshire and a globally known iconic brand, the company's growth track and financials indicate it is not likely to serve new investors as well as it did Buffett and his team.

Warren Buffett sold Berkshire Hathaway’s entire position in General Motors. With a dirt-cheap valuation and tons of growth potential, there’s a lot to like about the automaker. The auto business is certainly a cyclical one,