FOOLISH advice and terrible investment philosophy. This is novice at best and I would say 'safe' except for the use of margin.
Past results are not an indicator of future returns. Don't use margin unless you are an experienced investor and have educated yourself. As a former investment banker and trader (I've traded and learned from some of the best traders-including for BERK-on the floors of the CBOE and NYSE), I urge you to thoroughly educate yourself first before taking investment advice from this blog.
If you like WB Value investment philosophy look into diversifying in other quality value investment management firms. I personally love 'Value' and it offers the most value to me and my lifestyle. There aren't too many great ones (that aren't already closed to new investors), but two excellent firms off the top of my head are Century Management Parners (ironically Austin based) and Brandes Investment Partners out of La Jolla, CA. Both are impecable with superior returns. I've met both of the firms personally and they have similar Value investing philosophies to WB (Brandes is known for international holdings-Read Charles Brandes' book). By my professional definition, "Value" mean the holdings should be 30-50% below book value when purchased by the portfolio manager.
Ty, stick to just being awesome. Cheers mate.