Even Buffett Isn't Perfect: What You Can---And Can't---Learn from the World's Greatest Investor [Audiobook, MP3 Audio, Unabridged] [Audio CD]

Vahan Janjigian (Author), Kent Cassella (Narrator)

Book Description

Publication Date: June 23, 2008

Warren Buffett is the most successful and revered investor of all time. His ability to consistently find undervalued companies has made him one of the world's richest men.Despite many previous books about him, it's rare to find an objective assessment-one that praises him when appropriate but also recognizes that even Buffett makes mistakes. For instance, is he right to call for higher taxes and an end to earnings guidance? Should Buffett fans copy his avoidance of technology stocks?In this penetrating look at how Buffett thinks, Vahan Janjigian shows listeners how to learn from the master's best moves while avoiding strategies that don't apply to small investors. And he explains Buffett's favorite valuation methodology, the discounted cash flow model, and how it can significantly reduce the odds of overpaying for a stock.

Editorial Reviews

From Publishers Weekly

In his introduction, Janjigian notes that to become a successful investor you must be an educated investor, and the best place to start is by examining Buffett's strategies. The author—vice president and executive director of the Forbes Investors Advisory Institute—doggedly follows Buffett's investment trail, scrutinizing the successes and failures of the world's pre-eminent investment celebrity. Janjigian's readable, engaging style carries the reader painlessly through the fundamentals and finer points of investing, assaying Buffett's buying strategies and research methods, while clarifying investment terms and summarizing key points. Although frankly admiring, Janjigian is never fawning and takes pains to make his material clear and compelling; his book is a rounded evaluation of the investment guru's strategies and a useful primer for business neophytes. (May)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to an out of print or unavailable edition of this title.

From Booklist

It’s refreshing to encounter a title about world-famous investment wizard Warren Buffett that doesn’t paint him as a superhero. Despite his many successes, Buffett has made mistakes and not always taken the right steps, as recounted in this measured, objective account that scrutinizes Buffett’s techniques and presents investment fundamentals and strategies. Unfortunately, Casella’s reading is somewhat lackluster. His careful, almost phonetic enunciation of some phrases and sentences makes it seem as if he is seeing the text for the first time. Although monotonous might be too strong a word, his performance could use a little more spark. Casual listeners may tune out, but those who stick with this “penetrating look at Buffett” will gain insight into the respected businessman and learn more about investment strategies. --David Pitt --This text refers to an alternate Audio CD edition.

See all Editorial Reviews

Product Details

• Audio CD
• Publisher: Tantor Media; Unabridged,MP3 - Unabridged CD edition (June 23, 2008)
• Language: English
• ISBN-10: 1400157374
• ISBN-13: 978-1400157372
• Product Dimensions: 7.3 x 5.5 x 0.6 inches
• Shipping Weight: 2.9 ounces (View shipping rates and policies)
• Average Customer Review: 3.4 out of 5 stars  See all reviews (43 customer reviews)
• Amazon Best Sellers Rank: #4,410,571 in Books (See Top 100 in Books)

More About the Author

Vahan Janjigian grew up in Wynnewood, PA. He graduated from Lower Merion High School and holds degrees from Villanova University and Virginia Tech. He spent many years running track and cross country and is pretty sure he is one of the slowest milers to have run on Villanova's track team. Vahan currently serves as Chief Investment Officer at Greenwich Wealth Management, LLC. He is also a columnist for Forbes magazine and editor of the Forbes Special Situation Survey investment newsletter.

Customer Reviews

Most Helpful Customer Reviews

17 of 20 people found the following review helpful:

5.0 out of 5 stars Buffett May Not Be, But Janjigian Is, July 1, 2008

By 

Jon Weiman (Randolph, NJ) - See all my reviews
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This review is from: Even Buffett Isn't Perfect: What You Can--and Can't--Learn from the World's Greatest Investor (Hardcover)

Vahan Janjigian is eminently qualified to write a book on Warren Buffett. To those who have misunderstood the title; it is meant to be ironic.
The book is a well researched and very informative analysis of Warren Buffet's success as well as a detailed explanation of various investment strategies. The language in the book is both erudite and colloquial in tone; and gives one the sense that the author is very comfortable writing on this subject. It reveals not only that Warren Buffet has, over the years, managed to be a world class investor by utilizing his research, instincts, judgment and patience; but that his refusal to bend to market trends has made him an outstanding long term builder of wealth.
The author's unique way of explaining both the academic aspects of the Buffett formula and using more common language, at times, to give a more baseline understanding of Buffet's success, make the book a highly readable text. I recommend it highly.

14 of 17 people found the following review helpful:

5.0 out of 5 stars Best Book on Buffett, May 16, 2008

By 

Digestive Biscuit (New York City) - See all my reviews

This review is from: Even Buffett Isn't Perfect: What You Can--and Can't--Learn from the World's Greatest Investor (Hardcover)

The title is kind of a misnomer. True that the author points out some of Buffett's investment mistakes. He also highlights what seem to be inconsistencies in the investment guru's approach. Yet the author never attacks the man directly. And he actually rains proper praise for all of the things Buffett's done right. To me it showed that everyone is human and prone to mistakes. As the author puts it, it's Buffett's ability to minimize mistakes while maximizing his successes that's truly made him a star.

Another aspect of the book I found to be more than a pleasant surprise was just how level-headed it was. Having read a number of investment-themed books, I can be sure that all good ones will present a heavy dose of what I like to call "financial science". Given that most investment strategies are based on some foundation of financial theory, this makes sense. But while many of these can get a bit too technical, the author does a good job of communicating relevant concepts without requiring the reader to have a degree in finance. Indeed, I initially cringed when he brought up the concept of correlation coefficient -- two words many of us probably haven't heard since high school. But his explanation of this and other important concepts were very easy to follow and rooted in common sense. He also doesn't inundate you with these concepts, only focusing on those that are required to help understand how Buffett invests and why it has worked so well for so long.

I enjoyed all of the chapters and felt the final ones -- which criticize Buffett's views on a few key issues such as taxes, corporate governance, and earnings guidance -- were especially well argued. However, my favorite, and perhaps most sobering, part of the book was when Dr. Janjigian distinguishes between business buyers and stock buyers. Specifically, he notes that while Buffett falls into the former category, most individual investors are stuck in the latter. This key distinction -- more than any other -- is the reason we realistically should not hope to duplicate Buffett's success. This was a refreshing change from so many other books that simply praise Buffett as an investment genius and suggests "foolproof" strategies that you can use to mirror his success. This author, too, has praise for the man. But he is very frank on how Buffett has made and maintained his fortune, and educates the reader on what is realistically possible when it comes to learning from the "World's Greatest Investor".

A very enjoyable read all around. I'd strongly recommended to anyone looking to for honest insight on Buffett, as well as, to anyone simply looking for a nice, easy to follow book on investing. You won't be disappointed.

11 of 13 people found the following review helpful:

5.0 out of 5 stars Evenhanded Analysis of Buffett, July 7, 2008

By 

Peter Brennan (USA) - See all my reviews
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This review is from: Even Buffett Isn't Perfect: What You Can--and Can't--Learn from the World's Greatest Investor (Hardcover)

In full disclosure, I am a friend of the author and have sat on two industry corporate governance committees with him. The qualities that I observed him exhibit on these committees including a willingness to examine issues from all prospective and to go beyond conventional analysis is what makes, "Even Buffett isn't perfect" such an important book. This book is probably the most evenhanded analysis of Buffett - his strengths and weaknesses (everyone has them). Dr. Janjigian's critique of Buffet's positions on taxation and estate taxes, should be required reading for all politicians.

What makes this book so useful is that Dr. Janjigian writes in a clear and straightforward style that is easily accessible to the nonprofessional. At the end of each chapter there is summary of all the major points discussed in the chapter.

The author focuses on the key topics of investing including diversification, compounding and investment style, explaining to the reader what aspects of Buffet's approach the reader should emulate and what parts of Buffett's approach the reader needs to modify.

I strongly recommend this book because most readers will find the well thought out investment principles simply presented, allowing readers to easily adapt them to their own investment programs.