James Altucher: How I make Warren Buffett work for me

James Altucher believes investors can profit by following what the smartest managers like Warren Buffett are buying.

CNBC's Mike Santoli spoke with Altucher in an exclusive interview for CNBC PRO. Santoli asked Altucher about his investment strategy.

"I try to look for where are the best investors investing and can I invest at a better price than them," Altucher said. For example, "if Warren Buffett decides I'm going to buy $2 billion worth of Apple and Apple stock goes down a little bit … I'll buy some Apple stock at a cheaper price than Warren Buffett. It's as if Warren Buffett is my unpaid intern giving me his stock picks for free."

In similar fashion he also shared his criteria for early-stage startup investments.

"I always assume I'm the dumbest person in the room, which is often accurate. I like to look at companies where there is someone smarter than me, co-investing with me, at the same terms as me," he said. "I like to look for companies that have a CEO who has done it before. They built and sold a company before ... in the same area."

Altucher is a successful entrepreneur, angel investor and best-selling author of "Choose Yourself." He is an investor and adviser to over 30 companies and hosts the popular business podcast "The James Altucher Show."

See here for the full CNBC PRO report and the interview video.