Want to Invest Like Warren Buffett? There’s an App for That

After decades of trying to figure it out, ordinary investors can now be privy to the secret sauce that seasons the investment mojo of icons like Warren Buffett, Bill Ackman, Leon Copperman, and Carl Icahn -- for a mere $2�per month.

Sound too good to be true? Well, I may have overstated what the iBillionaire app is actually offering, which is the ability to compare your own investment picks with those of more than 10 stars of the investment world. Will this help the average investor make better decisions? iBillionaire thinks so.

Secrets of the pros
Of course, just knowing what the most successful investors have in their portfolios and what they paid for an average share won�t be of much help to the rest of us. But, there�s always the chance that tracking what these pros do on a regular basis might reveal some tips the average person might not have otherwise thought about.

Take Warren Buffett. One of the world�s most successful investors, he�s never been shy about sharing what he thinks are the best investing rules to live by. Despite Buffett�s recent lament�that his company, Berkshire Hathaway (NYSE: BRK-A  ) � (NYSE: BRK-B  ) didn�t perform up to his standards last year, that blip was only the ninth time in nearly 50 years that Berkshire lagged the S&P 500.

When it comes to investments, Buffett is usually on the money. His recent purchase of Heinz (NYSE: HNZ  ) prompted some to think he overpaid, but others see an immediate return of more than 6%, which is nothing to sneeze at.

Then, of course, there are his investments in the biggest of the banks. At the end of 2012, Buffett�s stake in Wells Fargo (NYSE: WFC  ) was valued at nearly $17 billion, and the Heinz deal threw some juicy M&A work the bank�s way, as well.

And, don�t forget his opportunistic investment in Bank of America (NYSE: BAC  ) . Buffett�s infusion of $5 billion�into that bank during a time of crisis in 2011 was not just an act of charity. His preferred shares pay a sweet 6% annual dividend, and the option to buy 700 million more shares at a smidge over $7 each holds the promise of billions in profits.

Immersion technique?
Doubtless, the average investor will never see the kind of success that has set Warren Buffett apart from the investing crowd. For two bucks each month, though, it might be fun to have quick, convenient access to the portfolio picks and latest snippets of wisdom from your favorite investing idol. Who knows, maybe you�ll pick up a tip that covers the price of the app -- or more.

Thanks to the savvy of investing legend Warren Buffett, Berkshire Hathaway�s book value per share has grown a mind-blowing 586,817% over the past 48 years. But with Buffett aging and Berkshire rapidly evolving, is this insurance conglomerate still a buy today? In The Motley Fool�s premium report on the company, Berkshire expert Joe Magyer provides investors with key reasons to buy as well as important risks to watch out for. Click here now for instant access to Joe�s take on Berkshire!