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The Warren Buffett Way Hardcover – September 30, 2013
"Rebound" by Kwame Alexander
Don't miss best-selling author Kwame Alexander's "Rebound," a new companion novel to his Newbery Award-winner, "The Crossover,"" illustrated with striking graphic novel panels. Pre-order today
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From the Inside Flap
Over an investment career that is six decades and counting, Warren Buffett has confronted countless challenges and navigated his way to unparalleled success. His humility, integrity, and intellectual spirit have endeared him to millions of investors around the world, and continue to ignite intense interest in how he goes about his business. That's why Robert Hagstrom has returned with the Third Edition of The Warren Buffett Way.
Despite the avalanche of information available to today's investor, many still struggle to earn a profit. But far above the market madness stands the insights and experience of Warren Buffett. In this latest edition of The Warren Buffett Way, Hagstrom puts the "Oracle of Omaha's" investment philosophy in perspective, while revealing how you can incorporate his effective approach into your own endeavors.
Opening with an engaging look at Buffett's personal and professional history, this timely book quickly moves on to introduce the individualsfrom Benjamin Graham and Philip Fisher to Charlie Mungerwho influenced the way Buffett looks at investing.
From here, Hagstrom begins to breakdown Buffett's methodology and makes a case for why what Buffett does is "not beyond anybody else's competence." You'll become familiar with Buffett's proven approach to selecting stocks as well as buying businessesboth of which follow a similar pattern built on timeless principles codified into twelve tenets. You'll discover firsthand how his principles are applied to many Berkshire Hathaway purchases, including the classic purchase of Coca-Cola and more recent transactions involving IBM and Heinz. And after learning how to make rational decisions about which stocks to buy, Hagstrom shows you how to pull it all together by addressing why Buffett thinks focus investing greatly simplifies the task of portfolio management. Along the way, you'll gain essential insights into the psychological challenges of managing a Warren Buffett portfolio as well as the role of patience in long-term investing.
Warren Buffett's career of successfully managing money spans nearly sixty years. Integrating his tenets into your thinking and basing your investment decisions on them may not make you billions, but it will put you in a better position to improve your portfolio's bottom line over time.
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With that being said, I am very glad to have read this book as it has given me a better understanding of what I need to do to become a smart investor, as well as successful in life. Buffet is a true inspiration, and this book dives into what has made him so successful, so consistent, and yet so humble.
Great read, I would definitely recommend it.
I think that companies' annual reports are partly "boilerplate" info, but I also think they are INTENDED to obfuscate, since the real question is to determine whether a company makes more than it spends (profit), and secondly whether shareholders tend to benefit (or if the company plows that cash back into their own agenda).
- How discounted cash flow can be calculated
- How return on equity should be interpreted and why it's more crucial than the typical P/E ratio
Even I gave just three stars, book itself is quite useful reading but it could be shortened at least into half.
I have purchased several books pertaining to Buffett and have followed him and his work for a few years. I was interested in him not only because of his investments but his character is to be rewarded; money isn't everything. I have not finished the other books that I have purchased about him but want to be able to absorb this one first before moving forward into the others. Nor have I gotten a chance to delve into the website yet, I can't wait.
This book helps you to see and delve into the ways into which Buffett processes his investments but also shows how his upbringing, mentors and experiences has helped him in his investment endeavors and the investment choices that he makes as seen in Chapter 2: The Education of Warren Buffet. Here it provides an understanding of the industry and having hands on experience does help but in not letting money be your guide is best. Once you understand then you can make better and educated decisions.
Everyone may not be able to have the same types of successes as Buffett has had but to understand the method behind the man says a lot. Robert G. Hagstrom does a good job in breaking down the book. As in Chapter 4: Common Stock Purchases - Nine Case Studies in the tenets that he uses are valuable from Simple and Understandable and Price Point to Candor/Rationality. Stay tuned for a follow-up from me once I finish the book and review the website.
Up unto this point this book is Highly Recommended.
Most recent customer reviews
as well as good background necessary knowledge with persuasive explanation
I personally got the answer to my life long...Read more