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Warren Buffett's Management Secrets: Proven Tools for Personal and Business Success Hardcover – Deckle Edge, December 8, 2009
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"This amazing book captures in vivid detail Warren Buffett's most important management secrets, allowing the reader to take action with their new knowledge. Mary Buffett and David Clark have again shown their ability to reveal Warren's thought processes better than any other authors." -- John P. Reese, CEO, Validea Capital Management, and author of The Guru Investor
"Among the many striking management lessons in this book from one of the world's most successful managers is Warren Buffett's focus on human passion: When you hire people who love what they do, they make you look like a genius." -- Stephen Denning, author of The Leader's Guide to Storytelling and The Secret Language of Leadership
About the Author
For over twenty years, Mary Buffett has been considered a leading authority on the subject of Warren Buffett’s investment methods. Her international bestselling investment books, co-authored with David Clark—Buffettology, The Buffettology Workbook, The New Buffettology, The Tao of Warren Buffett, Warren Buffett and the Interpretation of Financial Statements, The Management Secrets of Warren Buffett, Warren Buffett and The Art of Stock Arbitrage, and The Warren Buffett Stock Portfolio—have been translated into twenty-four foreign languages and are considered “investment classics” the world over. Ms. Buffett is an international speaker, entrepreneur, political and environmental activist, and has appeared on television as one of the top finance experts worldwide. She has been the principal speaker for prestigious organizations around the world. Ms. Buffett has worked in a wide range of businesses including extensive work as a consultant to several Fortune 500 companies. She is an associate of the top ranked UK Buffettology Fund in the United Kingdom. In 2013 she became a contributing blogger to the Huffington Post. The blogs and information about the UK Buffettology Fund are on her website MaryBuffett.com.
For over twenty years, David Clark has been considered the world’s leading authority on the subject of Warren Buffett’s investment methods. His international bestselling investment books, co-authored with Mary Buffett—Buffettology, The Buffettology Workbook, The New Buffettology, The Tao of Warren Buffett, Warren Buffett and the Interpretation of Financial Statements, The Management Secrets of Warren Buffett, Warren Buffett and The Art of Stock Arbitrage, and The Warren Buffett Stock Portfolio—have been translated into more than twenty foreign languages and are considered “investment classics” the world over. He holds a B.S. degree in finance and a law degree from the University of California, Hastings College of the Law. He is presently writing Berkshire Hathaway: Fortress of Capital, a corporate biography. When not consumed with matters of finance, he is engaged in the second great passion of his life, which is trial law and maintains an active national practice.
You may have noticed that some of our books are identified as "deckle edge" in the title. Deckle edge books are bound with pages that are made to resemble handmade paper by applying a frayed texture to the edges. Deckle edge is an ornamental feature designed to set certain titles apart from books with machine-cut pages. See a larger image.
Top Customer Reviews
I read something in the first chapter of this little book that I have been thinking about for days: "Pick the right business to work for." It seems simple, but means the difference between a high-paying career and a life of drudgery. Yet most of us, at least when the age we are first looking for a job, take anything. We don't feel we deserve choice. In a nutshell, that is the most amazing quality of this compendium of five simple principles for personal and business success, it empowers the reader. It gives us choice. It even allows us to fail.
Management Secrets reminds me of another favorite of mine, The Actor's Handbook by some of David Mamet's former students at NYU. I'm a big fan of the playwright and have read his books, but there is something about getting the information from a second-party that is almost better. It's as if they have taken the time and effort to assimilate a complex subject and put it in such a way that can implement it. That's certainly true here. The two authors tell us how to determine the "right business to work for" in terms of per share earnings, debt and gross margin, and even follow these with a course of action for people who find themselves in the wrong choice, "So if you find yourself working for a company with poor inherent economics, it is better to get out now than it is to stick around year after year waiting for things to change."
There are stages businesses go through and an entrepreneur may go against everything people advise to start a new enterprise, but he or she needs to turn around and delegate to others if the company is to ever reach the next level.Read more ›
I still enjoyed the read, however, but I would not recommend this book to somebody who is trying to find out how to be a better manager. This book references Warren's love for the works of Dale Carnegie. You would do okay to start there.
It's about notorious basics:
- Find a Job You Love and You'll Never Work a Day in Your Life
- Dont borrow money, dont live above your financial possibilities, dont create debt etc
- Delegate as much as possible, and follow up on major things
- Invest in depression, sell on grow
- Listen your managers, surround yourself with good advisers etc
If you have never had a management book in your hands, you can start with this one. But for "newers" it's too hightflyer (how young independants can use advise "invest in companies in depression"???), and for middle-management these advises are too obvious.
Another thing that bothers me, the way Mary reads each paragraph "Warren believes..", "Warren hires...", "Warren does...". We know that all these ideas come from Mr. Buffet, why should she reminds it every minute?
The book has many valuable management and leadership guidelines and principles that are followed by Warren Buffet (according to his daughter-in-law, Mary). For the most part, these are sound principles that are taught in a variety of other business books in the marketplace.
The book (and hence, Buffett's management priciples) is broken down into five segments;
1) Pick the Right Business
2) Delegate Authority
3) Find a Manager with the Right Qualities
4) Motivate Your Workforce
5) Managerial Axioms for Different Problems.
Each of these five sections is expanded on briefly in the book. The entire book is only 123 small pages long so the amount of wisdom that can be captured is limited.
A couple of the key points I picked out from Buffett are;
1) Maintain a long term view of the business and don't always focus on making short term numbers...this pressures staff to "manufacture" results.
2) Measure management on how well they did relative to the overall marketplace not just relative to last year's performance.
3) Rely heavily on the principles taught by Andrew Carnegie in "How to Win Friends and Influence People".
if you've read other mgmt books before, some of his input won't be new.
i can't believe the reviewer who gave this book at 1 star rating. that is completely unwarranted. and, i don't know what he paid, but i got it on amazon for a reasonable price.
Most Recent Customer Reviews
I had originally streamed this audio online then decided I needed it for my own reference. This audio book is full of simple principles that anyone can apply to become a better... Read morePublished 5 months ago by No Thanks
I think this book is a very interesting insight into the mind of one of the most successful entrepreneurs in this generation. Read morePublished 18 months ago by KNakano
I have read nearly everything by and about Warren Buffet I could get my hands on.
I was unfortunate enough to listen to the audio book version by Mary Buffet. Read more
Wow, I never seen such an amount of horse-s..t in such a tiny book!!!!
Don't buy this.
First of all, it will only teach you mesmerizing financial concepts... Read more