The New Buffett Strategy

Updated from 6:59 a.m. EDT

By Stockpickr Guest Columnist Steven Plisk

Oracle of Omaha. World's Greatest Investor. That nice gentleman with the pithy, Midwestern charm and ungodly stockpile of cash.

Of course, we're talking about Mr. Warren Buffett, the legendary Chairman of Berkshire Hathaway(BRK.A Quote - Cramer on BRK.A - Stock Picks) and keynote speaker every year at that "Woodstock for Capitalists" gig. Legions of people diligently study his every investment move in pursuit of the coveted Berkshire Effect.

The guy who seems to buy and hold classics such as Coca-Cola(KO Quote - Cramer on KO - Stock Picks), American Express(AXP Quote - Cramer on AXP - Stock Picks) and Procter & Gamble(PG Quote - Cramer on PG - Stock Picks) and make tons of money. The same guy who avoids the herd mentality and stuff he "doesn't understand" -- so no Apple(AAPL Quote - Cramer on AAPL - Stock Picks), Google(GOOG Quote - Cramer on GOOG - Stock Picks), Sun Microsystems(JAVA Quote - Cramer on JAVA - Stock Picks), Intel(INTC Quote - Cramer on INTC - Stock Picks) or even Microsoft(MSFT Quote - Cramer on MSFT - Stock Picks).

As usual, the release of Berkshire's latest SEC filings was delayed a couple of months to minimize their ripple (tsunami?) effect. And there's a new holding that's creating a bit of a buzz. As of June, the company has initiated a position in NRG Energy(MSFT Quote - Cramer on MSFT - Stock Picks), a power-generation company. This isn't the first utility Buffett has purchased. In fact, Berkshire is already one of North America's largest utility companies, having acquired MidAmerican Energy and PacifiCorp.

So what's the hubbub about?

To find out, and for some potential Buffett piggybacking plays, please click here.