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67 of 68 people found the following review helpful
5.0 out of 5 stars FABULOUS - JUST FABULOUS - COMPELLING EVEN - I cannot say enough about this book!!!!
This book is in a class by itself, almost without equal. There are several reasons. Most of the time you have to read a whole book to find that one gem that made the book worthwhile. Sometimes it's one page you are looking for, once in a while, it's a paragraph. I have read many books for that one sentence that provides inspiration. When you say to yourself, "Why didn't...
Published on March 24, 2007 by Richad of Connecticut

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32 of 38 people found the following review helpful
1.0 out of 5 stars Explaining the self-explanatory
Warren Buffett's sayings are funny, profound, and self-explanatory. This book quotes 125 of those sayings, following each with a brief, humorless "interpretation," which, at best, adds nothing to the original, and in some cases misses the whole point.

For a better sense of how this great investor thinks, read any of the recent annual reports of Berkshire...
Published on November 3, 2007 by Barebones


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67 of 68 people found the following review helpful
5.0 out of 5 stars FABULOUS - JUST FABULOUS - COMPELLING EVEN - I cannot say enough about this book!!!!, March 24, 2007
This review is from: The Tao of Warren Buffett: Warren Buffett's Words of Wisdom: Quotations and Interpretations to Help Guide You to Billionaire Wealth and Enlightened Business Management (Hardcover)
This book is in a class by itself, almost without equal. There are several reasons. Most of the time you have to read a whole book to find that one gem that made the book worthwhile. Sometimes it's one page you are looking for, once in a while, it's a paragraph. I have read many books for that one sentence that provides inspiration. When you say to yourself, "Why didn't someone write this book before," then you know you have a winner.

But this book, WOW - every page was a work of art. I have been studying Warren Buffett since 1968, about four decades of observing the master, and I have met him on several occasions when he sojourned down to Wall Street. When you read this book, this is what you will find.

The Tao of Warren Buffet is a short book with 125 different major thoughts in it. Each thought is a direct Buffett quote. In the back of the book is a bibliography, which will give you the attribution for each thought. For most of the 125 thoughts listed, the bibliography will also furnish an Internet web address to find the original source for the quote, whether it's an annual report, magazine article, or public speech, you will find the source.

In addition to the 125 thoughts, you will find about a page of narrative furnished by the authors, Marry Buffett (Warren's former daughter in law) and David Clark who is himself a Buffett watcher. They will be giving you clarification, and illustrations of the Buffett quote in action.

I'll found both the original quotes, and the author's narrative to be ABSOLUTELY FASICINATING. If you are involved in the stock market it is more than fascinating, it is COMPELLING. Here's the deal, there's no nonsense here. There's no filler. Mary Buffett's book is short in length, small in your hand, easy to carry, and loaded down with WISDOM. Here are a few of the pearls of wisdom you will find in this book, and then you decide if you should read it. I have indicated the number of the rule from the book.

Rule # 4 "You Can't Make a GOOD DEAL with a BAD PERSON."

This is spot on brilliant. You can't put enough energy into watching a thief, because a thief is busy being a thief 24 hours a day, and you might only have an hour to watch him. In addition, you can't install enough internal controls to safeguard against a dishonorable person. Just don't deal with those kinds of people.

Rule # 9 "Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway."

Having spent 35 years involved with Wall Street, and currently being a Managing Partner of a national prominent investment-banking firm, I can't tell you how true this is. I have seen people barely competent, advising self-made billionaires on what to do with their money. The same is true for the firms themselves. Many of the billionaire clients are worth more than the firms arranging the financing. "Empty suits" is the expression we like to use.

Rule # 49 "It's only when the tide goes out, that you learn who's been swimming naked."

Enron is a perfect example of this witticism. The CPA's came in from Arthur Andersen, saw all this wealth. They saw helicopters landing on the top of the Enron building. They saw guys with $40 million paychecks, and they accepted whatever was handed to them as bona fide, as long as the $50 million check for the audit fee cleared the bank.

Rule # 57 "Never ask a barber if you need a haircut."

Is this brilliant or what? He's talking about Wall Street, brokers, investment advisors, financial planners, surgeons, and everybody with a private agenda. Brokers make their money by doing transactions, investment bankers by forcing the deal to happen, good, bad, or indifferent.

Rule # 68 You only have to do a very few things right in your life, so long as you don't do too many things wrong."

Buffett's net worth is in excess of $50 billion. My understanding is that 90% of that net worth has come from only 10 investment decisions, and you think you want to DAY TRADE.

Rule 74 "I buy expensive suits. They just look cheap on me."

Buffett did not buy an expensive suit until he was 60 years old. He figured out that $25,000 at 20% compounded growth for 20 years, was almost a million dollars. Who needs suits?

Rule# 112 "What we learn from history is that people don't learn from history."

Whether it's Viet Nam, Iraq, or investments, this is from the brain of a genius. If each of us could only understand the emotional truth of this statement and take it to heart, we would be so much better off, and so would our portfolios.

CONCLUSION

If you are an investor, I implore you to read "The Tao of Warren Buffett". It's short, easy to read, and will change your investing life. You will not have to go through the work of reading all of Buffett's public statements to find the gems. The sum total of his investment wisdom is in this book.

There is something to be said for going through the work yourself. I would rather see you read this book, if you will absorb the contents. I would pay my children to read it, and do give it to your investment advisors. If they say, "What's this," then it's time for NEW ADVISORS. Good luck to you

Richard Stoyeck
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32 of 36 people found the following review helpful
4.0 out of 5 stars Great Book With Some Contradictions, January 2, 2007
This review is from: The Tao of Warren Buffett: Warren Buffett's Words of Wisdom: Quotations and Interpretations to Help Guide You to Billionaire Wealth and Enlightened Business Management (Hardcover)
Let me begin by stating unequivocally that this book is a gem for investors. There are many life lessons to be learned as well, but there are a few contradictions worth noting:

1. A quote from the biography of Mary Buffett who co-authored this book: "Throughout her twelve year marriage to Peter Buffett, Mary was often instructed not to speak to anyone outside the family about Warren's investment methods." Following her divorce, she retained the Buffett last name and spilled her beans on Warren's investment strategies without endorsements from Warren. I don't know Mary Buffett, but a little explaining of this behavior goes a long way when according to her, one of Warren's requirements in doing business is to do it with people of integrity.

2. David Clark, the co-author of this book is a portfolio manager. It's a bit ironic that according to these two authors, Warren consistently expresses a low opinion of money managers as short-sighted investors. A quote from page 145: "If the big fund managers weren't obsessed with the quick buck, Warren would never have been able to make all the great buys that he has built his career on."

3. While on the subject of contradictions, there's one from the man himself: In page 101 Warren says "the increase in life expectancy that a shift to a health-conscious diet might bring is not worth the decrease in the pleasure he would get from eating less junk food," referring to his steady diet of "Coke, hamburgers and inch-thick steaks." In page 91, "Warren sees the human mind and body as being kind of business asset, your business, your asset... take care of them and make them strong." This may be a case of the preacher not following his own advice.

Contradictions aside, this book contains lots of basic common sense advice about investing and life in general. It's a quick read that should be a requirement for everyone, investor or not.
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32 of 38 people found the following review helpful
1.0 out of 5 stars Explaining the self-explanatory, November 3, 2007
By 
Barebones (Toronto, Canada) - See all my reviews
This review is from: The Tao of Warren Buffett: Warren Buffett's Words of Wisdom: Quotations and Interpretations to Help Guide You to Billionaire Wealth and Enlightened Business Management (Hardcover)
Warren Buffett's sayings are funny, profound, and self-explanatory. This book quotes 125 of those sayings, following each with a brief, humorless "interpretation," which, at best, adds nothing to the original, and in some cases misses the whole point.

For a better sense of how this great investor thinks, read any of the recent annual reports of Berkshire Hathaway.
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8 of 8 people found the following review helpful
3.0 out of 5 stars Helpful to the amateur trader, May 29, 2007
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This review is from: The Tao of Warren Buffett: Warren Buffett's Words of Wisdom: Quotations and Interpretations to Help Guide You to Billionaire Wealth and Enlightened Business Management (Hardcover)
In a day and age where one can easily and inexpensively manage a portfolio and trade on the stock market, this book provides helpful insights into the difference between investing and speculating. I hope consequently to be more prudent in the choice of my investments. In particular there is strong warning against the speculative type of investment in companies that are full of hopes but short on a solid track record.

Significant in this is Buffets avoidance of technology stocks.
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13 of 16 people found the following review helpful
2.0 out of 5 stars we've heard it all before, December 10, 2006
This review is from: The Tao of Warren Buffett: Warren Buffett's Words of Wisdom: Quotations and Interpretations to Help Guide You to Billionaire Wealth and Enlightened Business Management (Hardcover)
I read this book in about 2 hours. It's primary message is what we've all heard before from Buffett:

Know what you're buying into

Plan for the long haul

Wait until the good company is priced low

There's a bunch of other information but those are the 3 primary messages in the book (from my perspective).
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6 of 7 people found the following review helpful
2.0 out of 5 stars Only a few gems among the obvious, January 26, 2010
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This review is from: The Tao of Warren Buffett: Warren Buffett's Words of Wisdom: Quotations and Interpretations to Help Guide You to Billionaire Wealth and Enlightened Business Management (Hardcover)
I was hesitant to order this book based on the negative reviews, and now I understand why. I will grant that there are a few gems of business philosophy among the quotations, but the accompanying explanations are often childish, and the ideas themselves become very repetitive about two-thirds of the way through. You will get tired of hearing to buy genuine value when it's cheap, trust me. You will get tired of the hyperbole as well, along the lines of "follow this advice and you'll be a billionaire!"

I bought the Kindle edition, and it's rather expensive as Kindle books go. Oddly enough, the book is the opposite of what it preaches: mediocre value at a high price.

I would recommend you search the web for quotes from Buffett and do your own interpretation of their meaning. You may not get the full history as conveyed in the notes in this book, but you'll get the gist and that's really what matters here.
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2 of 2 people found the following review helpful
5.0 out of 5 stars Great Information, September 19, 2008
This review is from: The Tao of Warren Buffett: Warren Buffett's Words of Wisdom: Quotations and Interpretations to Help Guide You to Billionaire Wealth and Enlightened Business Management (Hardcover)
Length:: 0:43 Mins

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2 of 2 people found the following review helpful
5.0 out of 5 stars Great book!! It's a must read!!, September 28, 2007
Verified Purchase(What's this?)
This review is from: The Tao of Warren Buffett: Warren Buffett's Words of Wisdom: Quotations and Interpretations to Help Guide You to Billionaire Wealth and Enlightened Business Management (Hardcover)
Want to learn about investing or get a feel for how the greatest investor of all time thinks!! Well, if you do, you better buy this book!! This book gives you a feel and idea of how the greatest investor of all time thinks through things!! One of the best books on Buffet I've ever read, if not the best!!! It's short and to the point!! Belongs on every serious investors book self!!Financial Statement Analysis: A Practitioner's Guide, 3rd Edition
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4 of 5 people found the following review helpful
4.0 out of 5 stars Tao Tao, March 29, 2007
This review is from: The Tao of Warren Buffett: Warren Buffett's Words of Wisdom: Quotations and Interpretations to Help Guide You to Billionaire Wealth and Enlightened Business Management (Hardcover)
The book consisted of a number of short anecdotes and observations. If you looking for a quick read, big picture perspective and a common sense approach this is a good guide.
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4 of 5 people found the following review helpful
5.0 out of 5 stars As brilliant as the man himself., December 12, 2006
By 
Emily Petrou (Erding, GERMANY) - See all my reviews
(REAL NAME)   
This review is from: The Tao of Warren Buffett: Warren Buffett's Words of Wisdom: Quotations and Interpretations to Help Guide You to Billionaire Wealth and Enlightened Business Management (Hardcover)
The perfect holiday gift. Buffett's nuggets of wisdom are unsurpassed. I loved this book because every page offers a gem of advice that only the master could come up with. Quite often his wit left me in stitches. Buffett is a national treasure. This is by far one of the best books I've read on him because it so deftly packages his ideas in a breezy, compact form. A great, fast read!
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