2024-01-24 09:15:00 ET
If you are not familiar with the stock market, then building wealth can be an intimidating prospect. People often spend a lot of time trying to identify the next stock or asset that will break out, hoping to make a profit. But more often than not, an investor is better off sticking to the basics.
One of the most followed investors in history is Warren Buffett . The Oracle of Omaha has become an icon for investors with his simple strategy . While he owns stock in many different businesses across a variety of sectors, he complements these positions with a passive approach .
One of Buffett's core holdings in his Berkshire Hathaway portfolio is the Vanguard 500 Index Fund (NYSEMKT: VOO) . This exchange-traded fund (ETF) provides investors with exposure to the most influential companies in each market sector and is meant to mimic the overall performance of the S&P 500 .
For further details see:
This Warren Buffett Holding Can Turn Anyone Into a Millionaire. Hint: It's Not Apple or Amazon.