Last night, I really enjoyed watching the CNBC interview with Warren Buffett. The real beauty of the interview is how the world’s second richest man revealed his key ingredients to investment success, and I'll bet you only a handful of investors understood what he said. Why do I say this?

Buffett laid out his investment strategy, and this strategy does not jive with the investment psyche of today's investor. Simply put, investors who have a mindset of instant gratification cannot, and will not, achieve Buffett like returns because they are not patient enough to wait for "the perfect pitch."

In my 35 years as an investor, and 18 years as an investment advisor, I have seen it over and over again. People will not change, and as long as financial publications and TV programs constantly appeal to investor’s greed, they will continue doing what they're doing. The recent real esate debachle is a prime example of what greed and following the crowd can do to your pocketbook.