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Unlike Hagstrom's first book, The Warren Buffett Way, which describes how the world's greatest investor selects individual companies, this book looks at the mathematics, the psychology, and the mental models necessary to build a successful portfolio. The basic ideas: Pick no more than 10 to 15 companies with good track records and high probabilities of future success; plan to hang onto them for at least five years; and ignore predictions and the sometimes terrifying swings in market behavior. It's hard to argue with Hagstrom's approach, especially when he practices what he preaches. His fund, the Legg Mason Focus Trust, has 15 stocks, an annual turnover rate of 9 percent, and percentage annual returns in the mid-30s. For thoughtful investors and devotees of Warren Buffett, who are looking for more than the next hot stock tip, The Warren Buffett Portfolio is well-written guide. Recommended. --Harry C. Edwards --This text refers to an out of print or unavailable edition of this title.
The author covers several important topics, in a summarized way, but also in a very interesting way.
Hence, I'm forced to agree that too much emphasis is on Buffett the stock picker and not enough on Buffett the Business and Management analyst.
It is also the only book on Berkshire's investing philosophy recommended by Charlie Munger himself..
Robert has written a simple and powerful book that sums up Berkshire investment philosophy very well! Recommend to all buffetophiles!Published 2 months ago by Ruchi
Great Book ! Tells you how Warren Buffet and others used focus investing to achieve great returns. A good book about stock investing.Published 4 months ago by SK
I wonder if Buffett has reviewed this book
It says on p7
``In 1969 Warren did what Graham had failed to do in 1929: He cashed
in his chips and walked away... Read more
This is that rarity a usefull practical, solid, smart investing book.. It does not fool around and from the begining till the end
it remains focused and very well... Read more
This book give you a brief introduction to focus investing and its practitioner like John M. Keynes, Phillip Fisher, Bill Ruane of Sequoia Fund, Lou Simpson at GEICO and Charles... Read morePublished on January 24, 2010 by Jerry Liu
This was the first book I read that attempted to describe focus investing, the professional investing style which I practice. Read morePublished on January 18, 2010 by J. Golton
I have not finished the book yet, but I am pleased with the content and know the book will be informative.
As usual, the book arrived promptly and in good condition.
I wonder what the aim of this book really was... It appears the author was impressed with Buffett's use of probability theory and expectancies of outcome on investments, and he... Read morePublished on August 7, 2008 by Ratatosk