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Of Permanent Value: The Story of Warren Buffett, 2007 International Edition ( 2 Volume Set) Hardcover – December 6, 2006

ISBN-13: 978-1578644018 ISBN-10: 1578644011

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Product Details

  • Hardcover: 1816 pages
  • Publisher: Andy Kilpatrick Publishing Empire (AKPE (December 6, 2006)
  • Language: English
  • ISBN-10: 1578644011
  • ISBN-13: 978-1578644018
  • Shipping Weight: 9 pounds
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (56 customer reviews)
  • Amazon Best Sellers Rank: #1,702,598 in Books (See Top 100 in Books)

Editorial Reviews

Review

"The definitive story of {Buffett's} career" --London Daily Telegraph

"A wonderful compilation of stories and anecdotes about Buffett's experience, his investments, his hobbies, and his outlook on life." --John Tier, author of The Winning Investment Habits of Warren Buffett and George Soros

"A bit skimpy." --Warren Buffett

From the Inside Flap

At age six Warren Buffett paid a quarter for a six pack of Cokes and sold each Coke for a nickel-a return of 20%. From then on he compounded his returns at better than 20%. That's why he's a multi-billionaire-indeed the second richest person in the world..

Today Buffett's investment vehicle, Berkshire Hathaway, is a major shareholder in some of the greatest companies on earth: Coca-Cola, Gillette, Disney, American Express, a brand name extravaganza. GEICO, Berkshire's auto insurance unit, and Berkshire's other insurance entities, make up one of Buffett's secret weapons. They provide about $7 billion of "float," or other peoples money. Berkshire receives the money in the form of premiums and invests it, multiplying it profitably until time to pay off insurance claims. Berkshire, often thought of as a batch of stocks worth about $40 billion, is far more. The stock portfolio Is one of its three legs. The second leg is the enormous insurance business. A third leg is a collection of wholly owned businesses. With the purchase of the rest of GEICO in early 1996, the buyout of FlightSafety International in late 1996 and the smaller purchases of Star Furniture in 1997 and International Dairy Queen in 1998, Berkshire is now a constellation of operating businesses. The enormous stock portfolio, the insurance businesses and the operating businesses all do one thing-throw off a ton of cash for new investments. None of this counts the 129.7 million ounces of silver, some oil and fixed-income portfolio worth north of $10 billion. And none of this includes Berkshire's newest amazing deal-the $22 billion purchase of General Re Corp. Although it is Buffett's genius and personality which holds Berkshire together, he has had help from an extraordinary group of people. First and foremost is Charles Munger who has offered advice for almost 40 years and has pulled Buffett away from investing in lesser quality stocks. Munger has helped Buffett see the advantages of brand name companies with consumer franchises, pricing power and durability. Buffett and Munger-in Buffett's words-became "mental partners" back in 1959. Munger jokes that he deserves credit for hooking up with Buffett in the early days when Buffett had no outward appearances of success. "He had a crew cut. He was working out of a sun porch at his house and his dietary [leanings] were toward Pepsi, salted nuts and no vegetables." Munger, Lou Simpson and Ajit Jain within Berkshire have aided Buffett as have a number of figures outside Berkshire, including Tom Murphy, Katharine Graham and Bill Ruane. --This text refers to an out of print or unavailable edition of this title.


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Customer Reviews

I know that if one wants to know how to invest like Warren Buffett, that this is a "must have" set.
Bruce Wilhelm
Since the chapters, for the most part, are not that long, one can pick it up and read for as long or as short a time as is convienent.
Sherrie Gregory
Andrew Kilpatrick has written a most unusual biography of one of the world's richest men, investor Warren Buffett.
Rolf Dobelli

Most Helpful Customer Reviews

26 of 29 people found the following review helpful By thewahlmighty on May 23, 2003
Format: Paperback
This is a relatively well-written book, telling the story of Warren Buffett in great detail. Let me emphasize this last part by repeating it: it tells the story of Warren Buffett _in great detail_.
Author Andrew Kilpatrick has tackled his subject with the dedication of a stalker. Throughout _Of Permanent Value_ readers will be told, not just how WEB has accumalated a mind-boggling fortune, but also how well he tips (or doesn't), who his favorite philosopher is and what type of car he drives. You'll learn of the different groups of Buffett fans, the relatives of Buffett, the foundation that will spread around his wealth after he's no longer tap-dancing to work. And you'll read accounts of (random) people who saw Buffett in China, who taught or went out with him when he was younger, and so on and so on ad infinitum.
As such, the book is primarily for those who want to know more about who Warren Buffett the person is, than about how one can be more like him financially. To those, then, who want to know how to invest like Buffett I do not recommend you read this book--at least not until after you've read the other, better books on this subject. These are _The Warren Buffett Way_ (my favorite), _The Making of an American Capitalist_, and _How to Pick Stocks Like Warren Buffett_.
If you, however, _do_ want to know much more about Buffett than the average person, this book can not be recommended highly enough. Everything has been written down in the pages of this book--the only thing that wasn't discussed was whether Buffett wears boxers or briefs. (I'm sure Kilpatrick's saving this one for the next, revised edition however.)
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12 of 13 people found the following review helpful By Richard Casterline on January 15, 2007
Format: Hardcover
I still remember the joy I felt discovering the 1996 edition of this book. I am an avid Warren Buffett fan, and was hungry to find information on Warren and his company, Berkshire Hathaway. I had trouble finding a good source of information on Buffett until I stumbled on an old used copy of Of Permanent Value, the 1996 edition. It was years old and thus wasn't up to date, but was everything I was looking for. I have owned the last four latest editions since that discovery, so that I am always kept up to date.

OPV gets a makeover for 2007...switching to a two volume format to encompass the huge amount of updated information on BRK. I must say, this new format was a long time coming, as the bindings are much better than on the 2006 version, which was huge!

This latest version has updates on everything from Hurricane Katrina to the new Iscar purchase, to Warren hanging out with LeBron James. While containing all of the latest updates, this book also retains all of the information it always had going back to the earliest days of BRK -- complete with copies of the actual paperwork drawing up the original Buffett Partnership!

There really is no comparison to any other book out there, as no other book comes close to offering the breadth of information on Warren Buffett. This book even has his first tax return, which he filed at age seven. While this is a very thick set of books, it doesn't have to be read from cover to cover. The book is split into 355 separate sections, with a detailed table of contents making it easy to skip to the section you want to read. It doesn't flow from cover to cover...so at this point I think of it more as a reference, like an encyclopedia on Warren and Berkshire, where you skip to any subject in which you are interested.
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11 of 12 people found the following review helpful By Sidarta Tanu TOP 500 REVIEWERVINE VOICE on December 12, 2006
Format: Hardcover
First, I want to mention two things that you should know about this book. One is that this book is suitable for Warren Buffett true fans (if you aren't yet, you probably will become one after you read this book). Secondly, since this book contains almost everything that you might want to know about Warren Buffett, the book is quite thick (though this year it is divided into 2 volumes which is very helpful and much more convenient to hold/read). The indexing might be confusing (Andy mentioned that he tried to make it in chronological order, and I belive at the same time he wanted to put some fresh content in the first couple chapters). I have read this book more than once (including the previous versions), so I'm quite familiar with the content and structure, but even as you started completing a couple chapter, you would be able to start understanding the big picture (from Warren's childhood till his current Berkshire days.)

One very positive points about this book is: eventhough this book is very abundant in information, it is not boring to read. One of the reason is that the chapters are mostly short (and getting directly to the point). If you don't feel like reading the whole book , you can always pick the chapters that interest you. Kudos to Andy Kilpatrick for putting this book together (I also appreciate his sense of humor). Once you know the limitation (thick, somewhat random indexing), this book is easily considered the best book about Warren Buffett in my opinion. Not only for today, but ever.. I know that is a bold statement...

Another thing I like about Of Permanent Value: Pictures.. pictures.. pictures.. Lots of pictures.. A picture worth a thousand words..

Now about the content of the book.
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