Validea CEO John Reese, whose Warren Buffett-based portfolio gained more than 50% in 2009 and is beating the market again in 2010, says investors can learn a lot from Buffett’s latest letter to Berkshire Hathaway shareholders.

On MSN’s Top Stocks blog, Reese writes that “Buffett’s letters are always filled with wisdom, and I pay particular attention to his words, since his approach forms the basis for one of my Guru Strategy computer models. This year’s edition is no different, as Buffett lays out insightful thoughts on both current market conditions and long-term investing strategy.”

In the piece, Reese discusses his “five key takeaways” from Buffett’s letter. Among them: “It’s Still All About The Businesses — The Long-Term Businesses”; “Buy Amid Fear”; and “How You Buy Is More Important Than What You Buy”. To read the full article, click here.