How to buy in to Warren Buffett

Warren Buffett's deal to buy Burlington Northern will give small investors their best chance yet to buy into the Oracle of Omaha.

Mr. Buffett's investment company, Berkshire Hathaway , will split its Class B shares 50-to-one in order to accommodate the Burlington Northern deal, in which the railroad's shareholders can elect to receive payment in Berkshire shares.

That means holders of the Berkshire B shares will get 50 new shares for each one they currently own.

The move marks the first ever share-split for the Omaha-based company.

The B shares are known as "Baby Bs" because of their relatively low trading price. At Monday's close, the shares traded at $3,265 (U.S.) apiece. That's stiff compared to most stocks, but a pittance compared to Berkshire Class A shares, which closed Monday at $98,750. (The Class A will not be split for the Burlington Northern deal.)

Mr. Buffett preferred to keep his shares pricey to attract only the most serious investors. But he created the Bs in 1996 because outside investment firms planned to buy the high-priced Berkshire shares and resell them to small investors in pieces. Mr. Buffett saw the B shares as a way to prevent the outside firms from profiting from Berkshire.

With the upcoming 50-to-one split, the "Baby Bs" become even more affordable. Based on Monday's closing price, the new Baby B would trade around $65.

Berkshire Hathaway didn't set a timetable for the stock split. It cannot occur until after shareholders approve an amendment to the company's certificate of incorporation to increase its authorized number of shares. The company has not scheduled that shareholder vote.