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3.7 out of 5 stars
Trade Like Warren Buffett
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25 of 30 people found the following review helpful
on April 21, 2006
I am a Finance MBA and Buffettphile and this book barely held my attention. They did a very poor editing job. The numerous errors detract from the work. A lot of "Buffett-like" and "Buffett-style" speculation but not so much Buffett.

The book is lacking in too many areas to illustrate them all. I'll use the chapter on merger arbitrage as an example. Mr Altucher mentions some studies on merger arbitrage and how you can improve your success rate. He completely fails mention Graham's criteria for entering a merger arbitrage transaction as stated in the Intelligent Investor. The criteria are annualized 20% expected return and an estimated success probability of 80% or greater. Buffett probably still uses these. His overall treatment of merger arbitrage is woefully superficial. Anyone can calculate the return on capital if the merger succeeds. How do you determine the expected return on capital if the merger fails? How can you determine the implied probability of success from current market pricing? These and many other critical areas to one who practices merger arbitrage are not discussed.

While the book is not written in sufficient detail to actually be useful, Mr Altucher did cite many academic studies that I am anxious to read when I have the time. Mr Altucher, you got me. You put "Buffett" in the title and I bought the book.
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18 of 22 people found the following review helpful
on March 9, 2005
I was first exposed to James Altucher's work on theStreet.com and have always found his articles to be worthwhile. "Trade Like Warren Buffett" is no different. Mr. Altucher's concise observations and comfortable writing style make this book a fun, fast read.

People who have had little exposure to Buffett literature beyond the endless magazine cover stories will see that he is at heart an extremely ambitious and competitive investor who is not above making a quick trade, timing the market or relying at least in part on anecdotal evidence when buying a stock. But even though Mr. Altucher makes short work of the "buy and hold forever" myth that surrounds Buffett, he clearly respects Buffett's prowess and accomplishments. I particularly liked the examination of Buffett's current stock holdings and the stories from his early investing career. And there are a couple of interviews with money managers that provide good perspective.

It was a little frustrating to read about all the investing opportunities that Buffett has taken advantage of over the years but that no longer exist. However, it was also nice to learn that Buffett has made mistakes too.
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7 of 8 people found the following review helpful
on August 15, 2009
I don't think that many people see Buffett as a trader. Most view him as a long-term investor who buys companies that possess competitive advantages and holds them forever. However, the author points out that Buffett has used many different investment strategies such as cigar butt, value investing, special arbitrage situations, workouts, distressed debt, merger arbitrage, and spin-offs. This book covers all of these strategies. So those who are looking for the classic Warren Buffett buy-and-hold strategy might find it disappointing.

He made pretty good money using other strategies, but unfortunately many of these opportunities do not exist in the same way as they did years ago. The reason for this is the Internet and the growing number of hedge funds exploiting these same opportunities. I found it interesting to learn how Buffett evolved as the financial environment was changing. I think that Buffett's experience with so many investment strategies gives him an edge over other money managers because it makes him well-rounded.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
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36 of 48 people found the following review helpful
This book was rather weak. It touched on alot of interesting topics but often didn't dive into them in detail. It also had interviews with at least 3 people who run mutual and hedge funds that didn't have much to do with Buffett's record itself.

I've read just about all of the books on Buffett out there and this one was not one of the best by far. Buy Buffettology or the New Buffettology. They are far better.
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8 of 11 people found the following review helpful
"Trade like Warren Buffet" is a superbly organized and well written account of the history of Warren Buffet along with his personal secrets to his financial success. Altucher gives you everything about Buffet, from his personal background, his earlier years as an investor, what he holds, and what TRADING strategies he has used throughout his legendary career. "Trade Like Warren Buffet" is written in a way that enables the reader to easily benefit from the comprehension of Buffets unique trading styles and techniques. This book has given me a fantastic view of Warren Buffet "The Trader" and a better understanding of Warren Buffet "The Man." I was recently privileged enough to see Mr. Altucher speak in person. His ability to demonstrate his knowledge of Warren Buffet's "trading" prowess as well as his analysis of the financial markets is outstanding. The only substitute to seeing him speak is reading this book. This book is a MUST READ for any level of trader, investor, financial planner or Warren Buffet enthusiast
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1 of 1 people found the following review helpful
on May 24, 2014
If you are looking for more insight into why Buffett is the best investor evet, then this book will help you understand some of the techniques he has used beyond the traditional 'buy and hold' and value dogma. Buffett has indeed written his own rules. How much this now applies to the individual investor in the modern era is debatable, but a good additional to any investor's library.
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17 of 25 people found the following review helpful
on March 6, 2005
much inferior to the warren buffett way, not to say the making of an american capitalist,

in the begining of the book, the author says he will analyse buffett's investment in commodities and give a book list for further study, but these are no where to be found in the book,

what do you expect from such an author?

another chapter 'buffett's personal holdings' just copy all the charts and figures from yahoo, without any analysis of why buffett bought and sold them, what is it if not just for making the book thicker to sell more money,

another chapter just summaries buffett's articles in fortune, again where is the originality?

most unfortunately i bought it from a book shop that has no refund policy
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3 of 4 people found the following review helpful
on February 23, 2006
A simple depiction of Warren Buffett's methods. Wish the author had gone in more details of the theories involved. The book did not help my trading much. It was more of an informational review than anything else.
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8 of 12 people found the following review helpful
on March 12, 2005
I have read several books about Warren Buffet and this was the best. The way the author drilled downed on many actual investments and investing techniques that Warren uses was very helpful to this investor. I read this book in one weekend, couldn't put it down. I have been managing money for more than a decade and found this book very educational and a breeze to read. I highly recomend it any investor or anyone who wants a better understanding of one of the greatest investors of all time.
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5 of 8 people found the following review helpful
on March 29, 2005
I very much enjoyed reading this book. I have read many of the books about Buffett and this is definitley one I would recommend to anyone who is interested in gaining a deeper understanding of Buffett's investment philosophy. Too many people believe Buffett just "buys and holds" companies like Coke and Gillette, but that is a long way from the whole story. This book details many of the strategies Buffett employed through out the years. The author does an excellent job discussing why Buffett used the startegies and about where Buffet was in his career that made him able to do those sorts of trades. I also think it was good how the author was able to point out certain principals Buffett maintains regardless of what kind of trade he is making.

"Trade Like Warren Buffett," is an excellent read and I highly recommend it.
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