American Express has been a longtime holding of Buffett's, with the famed investor buying shares for the first time in 1991. Even as Buffett has trimmed other positions, American Express remains Berkshire's second-largest holding.

CEO Warren Buffett likes to collect income from stocks representing solid businesses, and who could blame him? The Oracle of Omaha’s ability to pick great dividend stocks is legendary, and it’s not a terrible idea to mimic some of his investments.

Warren Buffett has built up a sterling reputation over the years, compiling profits and sharing folksy wisdom on his secrets to success. He has