Investing is unlike some other areas in the world (for example politics, C-suites, education, environmental causes etc., and, of course, office politics) where being right may not necessarily ensure one's success (due to the short-term reward nature of these areas). In the investment world, being right will ensure huge payday due to the long-term reward nature of this particular field of endeavor. Therefore, to do well in the investment world, you must first understand the world reasonably well. To understand the world well, it helps to pay more attention (i.e., give more weights) to people who shoot straight. And among the rare individuals in this world who shoot straight, Warren Buffett and Charlie Munger clearly stand out. If Warren takes the initiative to ask Alice to write this book, it is surely a must-read, and I believe, it will be the Bible of Investing. What makes it even greater is the fact that it is the labor of love after a few years of delay of publications (for the last few years some worried that the project might have died), and they have more than 800 pages to benefit us! Long-term investors of the world: do not read this book at your own peril! I believe it will be one of the top two books for businessmen and investors alike (the other one is Sam Walton's autobiography "Made in America").
I read Roger Lowenstein's excellent book: "Buffett: The Making of an American Capitalist," which I thoroughly enjoyed. In the book, Roger Lowenstein mentioned that Warren Buffett had indicated he would neither help nor hinder Lowenstein's effort in writing the book. The fact that "The Snowball" was written with his help and his blessing makes me all the more eager to curl up with it. As a long time admirer of Warren Buffett, and a Berkshire Hathaway shareholder, as well, I have the utmost respect for the Oracle of Omaha. However, in view of the current financial crisis, I only wish people on Wall Street, and in Washington D.C., had been listening to Warren in 2003, when he warned against derivitive contracts, stated they were a "ticking time bomb." Tick-Tock.