Stocks in the United States are trading near all-time highs as investors rush to take advantage of the artificial intelligence revolution. The AI revolution offers transformative technology that promises to increase the country’s long-term growth rate through sustained productivity improvements. But these aren’t the only stocks making news.Berkshire Hathaway announced a few days ago that it was buying, of all things, a homebuilder, Taylor Morrison. Berkshire Hathaway is controlled by perhaps the world’s greatest investor, Warren Buffett, who started with very little and became one of the wealthiest people on the planet. Buffett is famous for a simple investment philosophy: buy quality assets at reasonable prices and hold them for a very long time, decades rather than days. Berkshire Hathaway’s purchase of Taylor Morrison is a perfect example of that approach.Buying a homebuilder is a bet on long-term structural demand for housing. Every American needs a place to live, and the country suffers from a chronic housing shortage. Berkshire Hathaway’s management understands that although housing stocks may be out of favor today, they will eventually return to favor when the current obsession with technology stocks fades. Buffett understands that over long periods of time, disciplined value investing often delivers superior returns.