The aw-shucks owner of Dairy Queen says he only buys businesses he understands.

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Then he'll make a pit stop at one of the Dairy Queen outlets he owns in Omaha.

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In 1988, he got attracted to International Dairy Queen and bought 50 shares of its class A stock mainly because he thought it was a company that Buffett would favor, given its good products, easy-to-understand operations, high returns on equity, little debt, and a reasonable price-earnings ratio.

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"Our customers really wanted it, " said Dean Peters, International Dairy Queen's associate vice president of communications.

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The insurance and investments conglomerate run by Buffett and his long-time partner Charles Munger owns businesses like Burlington Northern Santa Fe, GEICO and Dairy Queen and has sizable investments in the likes of Coca-Cola and American Express (not to mention a recently-purchased preferred stake in Bank of America).

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The second-home market has mushroomed, and with it, a population of folks whose tastes extend beyond Dairy Queen.

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