Customer Reviews

Buffett Step-by-Step: An Investor's Workbook: Learn to Analyse and Apply the Techniques of the Master Investor

5 star:		(6)
4 star:		(0)
3 star:		(0)
2 star:		(2)
1 star:		(4)

 

 

I have read several books about Warren Buffett and this is by far the worst. It appears to me the author has tried to summarize other writings about Buffett into one book. Save your money and buy "The Warren Buffett Way" by Robert Hagstrom and "Buffettology" by Mary Buffett.

This book is very poorly written. Concepts are badly explained and often not internally consistent. However I have read many books on Buffett and his investing techniques and the fact that this is not written well does not differentiate it substantially from many others.

What does differentiate this book from the others and consigns it to the "don't bother with" pile is the irritating smugness of the author. You can almost feel his condescension coming through as you turn the pages. If the quality of this book is anything to judge him by he has got much to be smug about!

I was extremely disappointed with this book. I have read a great number of books on Buffett and his investing style and this one is the worst. Simmons spends very little time on the calculation of Intrinsic Value and ends up using a formula which doesn't take into account a number of the important factors which Buffett looks at. The formula is a VERY simple one based on only the Return on Equity of the firm and a discount rate. You've got to be kidding me! The case studies are helpful, but once again they are simply explained and gloss over much of what is important. If Bufffett actually invested in the way described in this book noone would have ever heard of him.

The text appears to be overly simplistic in its prose and analysis. After reading it, the author's credibility as an authoritative source on Warren Buffett's methods becomes questionable.

If one wants to better "allocate one's capital," more authoritative and analytical sources are available in the marketplace, such as Buffettology, which was written a TRUE Buffett who saw firsthand the master at work.

As a newcomer to the world of investment this workbook has helped me to understand the ways and means to becoming a serious player in the stockmarket. I have now started my own portfolio following the clear path set out by Richard Simmons' analysis. Not only does the clear,concise style appeal to the experienced investor but to the novice too. An excellent workbook which I would recommend to all.

The book oversimplifies the approach of Warren Buffett and fails to deliver the essence of his systematic investment style. Having closely followed Buffett's investment approach and paradigm, I regret saying that this book has almost nothing to do with it.

Please consider the numerous other books on Buffett, but not this one!

Warren Buffett has made more money for more small investors than anyone else. There are other Buffett books about but they suffer from the extremes of oversimplification or overcomplexity.

At last, a book we can all use.

I found this book an extremely clear and interesting account of the methods that Buffett has used to evaluate the companies in which he has invested. The workbook approach means that these techniques can be applied easily by even the novice investor. I highly recommend this book to investors of all levels of experience.

Although there have been other books claiming to reveal the methods that have made Warren Buffett a billionaire this is the first wholly practical and accurate guide. Simmons first takes the reader through the analytical and qualitative techniques using a progressively convincing sequence of arguments. The second half is a series of case studies showing exactly what information Buffett had and what calculations he made when he made his celebrated investments e.g. Coca-Cola and Gillette.

Basically this is an excellent practical guide to investing that could make you, too, a billionaire.

I have read many Buffett books, and this would have to be the most generalised re-hash of other books out there that I have seen. I concur with the other reviewers, best to get the other material out there.

The book is 216 pages; 135 pages are dedicated to superficial "case studies". The other 80+ pages are merely a listing of general concepts. The "How to Invest" section could have been written by a high school student re-hasing a few books on Buffett. It provides a brief overview of a few Buffett investment themes, such as:

4. Being Value Aware.
5. Sources of Information
6. Using what you know, using what you feel [Ed - are you serious? sounds like something out of a Fortune Teller's manual for celestial guidance]
7. Goodwill
8. Capital Allocation
9. Return on Equity
10. IP: The Incremental principle
11. Estimating Value [this section was the most disappointing of them all, with no discussion of how he derives his view that "The intrinsic value of a security lies where its PE equals its ROE].

Too many "authors" out there simply hope that by slapping "Buffett" somewhere in the title of a book, that dedicated Buffett fans will pony up the $ for the book. I am writing this review to recommend to anyone who may be so inclined - DONT! Save your money. The intrinsic value of this book is not much. Buy me a coffee and I will give you my copy (actually, I think I am ripping you off with that trade, but I want something back for the effort of writing this review).

Good Investing.