Warren Buffett Has Recommended the Same Investment for Decades -- and the Long-Term Results Have Been Extraordinary

This investment has a flawless track record of surviving volatility over time.

With enough consistency, it could turn just $200 per month into over $1 million.

Warren Buffett is one of the most famous and successful investors in history, but his approach is surprisingly simple: Invest in quality companies, and hold them for as long as they remain good investments.

There's one particular investment that Buffett has recommended for many years. Not only is this fund accessible for those who are brand-new to the stock market, but it also has an extraordinary track record of building long-term wealth.

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Former Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.

One of Buffett's most highly recommended investments is the humble S&P 500 ETF.

He's so sure of this investment that he even bet $1 million in 2008 that it could outperform a group of hedge funds over 10 years. He easily won that bet, with his S&P 500 fund more than tripling the average performance of the five actively managed funds.