Book Description

An intimate portrait of Warren Buffet, the world's richest man. With unprecedented access, Roger Lowenstein provides the definitive, inside account of the "Oracle of Omaha, " a true American original. 2 cassettes. ... Read more

Reviews (60)

An amazing American capitalist with principles.
The amazing securities investment analyst Warren Buffett is the focus of this near hagiographic biography that is filled with details about the life of an American capitalist that rivals the likes of Carnegie, Ford, or Morgan. Lowenstein has done a remarkable job in telling the financial story of Buffett's rise to securities fame, although not as much about his actual strategy (that's another story). The early years depict a precocious child adept at numbers in a household rich with a domineering mother and business-minded father. Buffett's early investments, his famous relationship with Katherine Graham of The Washington Post, his role in the Capital Cities purchase of ABC, his rescue of the Solomon Brothers, and his unique personal relationship with his wife all make for a highly interesting, fascinating tale, sure to be a hit in schools of business. Buffett's securities firm stock value has ranged from a meager $7, to an estimated 1994 value of over $20,000 per share, evidence enough of the sagacious leadership of this preeminent securities specialist. During the reckless '80s, Buffett's principle-centered approach to building value never wavered, thus solidifying his fame. James Lurie's powerful reading is dead on, evoking the power of this man's singular character. Highly recommended.

Proof that a book about investing can also be interesting
I picked up Roger Lowenstein's book because I had enjoyed his column in the Wall Street Journal. In a nutshell, he and Mr. Buffett explain the differences between investing and speculation. Purchasing a stock based on a cold-blooded assessment of its VALUE is investment; buying a stock based on guesses about the general market, the economy, the mood of the public or other factors that are inherently unknowable is speculation. Unfortunately, that distinction has largely been lost on the frenzied day-traders, the purchasers of Internet stocks and the legion of "expert" market prognosticators who ought to know better. If you are interested in investing successfully for the long term, you should read this book. Apart from all that, Lowenstein also gives us a highly readable story of Warren Buffett the person, and I came away with a strong sense of Mr. Buffett's personal integrity and intellectual discipline. (In a curious way, though, the laser-like focus and icy rationality that have made Buffett so successful as an investor have apparently made him less successful as a father and husband. Read the book and you'll see what I mean.) The book is worth reading simply for what it has to say about this remarkable man.

Best Buffett Book Ever
I've read a lot of books about Warren Buffett and this is by far my favorite. If you have to read only one, read this one.

Excellent reading
I found that I knew so little about Warren Buffett, and this gave me a wealth of knowledge. Unfortunately, the book was written before the tech boom and subsequent collapse. Therefore, you do not get a sense of what he did during that time of hysteria, but prior to that it gives an insight that most authors aren't capable of relaying.

How Buffett Thinks
This book helps you understand how one of the greatest business thinkers of all time got that way. (How would Buffett approach a paper route as a boy, for example?) If you are interested in getting inside his head, this book is a good way to start. ... Read more

Book Description

PRAISE FOR THE WARREN BUFFETT WAY
FIRST EDITION

"Nobody has described what Buffett practices better than Hagstrom."
–Time

"Simply the most important new stock book . . . If you think you know all about Warren Buffett, you have a lot to learn from this book."
–Forbes

"It’s first rate. Buffett gets a lot of attention for what he preaches, but nobody has described what he practices better than Hagstrom.Here is the lowdown on every major stock he ever bought and why he bought it.Fascinating."
–Fortune

"Almost anybody curious about the relationship between the behavior of economics, the performance of firms, and the ups and downs of the stock market will find something of interest here."
–The Economist

"The Warren Buffett Way is accessible to average readers because Mr. Hagstrom reduces the billionaire’s techniques to some easily understandable tenets . . . the book demonstrates the rewards that can come down the road."
–The Dallas Morning News ... Read more

Reviews (45)

Belongs on the list of all time investment classics.
Other reviewers have written that this book is undervalued and they are right. Right from the start Hagstrom gives us advice on the nature of the market. He then gives management tenants, how to value a business and all kinds of investment tenants. These tenents are so fundamental that its very difficult to see how investing can be done without them in one form or the other. This makes the book timeless. Numerous examples are given from real world cases of how these tenants are used. There is also an excellent appendix that gives examples of how a business is valued. This is very helpful. Some reviewers have criticized Hagstrom, saying that if the book is true, why isnt he rich? But this is not how information is to be judged. There are many books that contain solid gold advice, but there are few who master them. Buffett is among them. If one wants additional information on Buffets methods, I suggest reading "How to pick stocks like Warren Buffett" by Tim Vick. But The Warren Buffett Way is a classic and at the top of the heap.

one of the most popular investment reads
This book is for anyone whether you are trying to understand investing for the first time or an experienced investor refreshing yourself with the principles of fundamental analysis. Hagstrom answers all the questions of what makes Buffett one of the most successful investors of our time. He talks about Buffett's childhood as a boy ambitious to turn a profit in selling Coca Cola as well as his philosophy behind which he makes his decisions on buying a particular stock. The refreshing part about investing like Buffett is whether you buy millions of dollars worth of stock or just a few shares of stock, you can still use the same principles that Buffett uses in making a decision. The methods are straight-forward and bring common sense approach to picking stocks. In it you buy stocks as if you were buying groceries and not as if you were buying perfume. It is not even necessary to know any complicated formulae about how to determine the value of a stock although some elementary math is required. If you only had to pick one book to read about investing and burn all the other books I would recommend this book. It is more informative that many other textbooks out there read by college students filled with unnecessary math and financial theory.

Worth the read
Forget B-school, read this book. Seriously, a great introduction to value investing and the Buffett mentality of risk.

Hagstrom's analysis is very easy to read and understand... a book everyone should read.

What if Mr. Market goes really crazy?
If you are reading this book just to be better informed, I think you will get your money's worth. I feel I got a five-star education. But if you are going to read it to make a decision to buy or not to buy Berkshire Hathaway, you should keep these two points in mind: First, almost everyone considers Warren Buffet to be the world's greatest investor. This special attribute of Mr. Buffet might be reflected in the price of Berkshire Hathaway stock. If Warren Buffet were no longer around, what would that do to Berkshire Hathaway? Hasn't Mr. Buffet's greatness built in a premium in Berkshire Hathaway stock?

Second, this book proves that Mr. Buffet beat Mr. Market most of the time under normal circumstances. In abnormal circumstances, Mr. Market could beat Mr. Buffet. Abnormal circumstances would exist if Mr. Market went into a long, deep depression (like he did in the 1930's and dropped in value by 90%). And could a second terrorist attack similar to 9/11 cause Mr. Market to panic and create abnormal circumstances in the economy?

No matter how good the company, Mr. Market can and will hurt the value of its stock. If there is another terrorist attack like 9/11, Mr. Market will panic and Coca Cola, Washington Post, GEICO, etc., would all suffer terribly.

Once Again, Take It With A Grain of Salt
I am not Warren Edward Buffett. Unlike Mr. Buffett, who has the delightful headache of trying to figure out where to put his steadily growing billions, I am a non-investor, sitting on the sidelines, wondering what all the fuss is about. Like most readers of this book, I have been told incessantly to invest for retirement, and not knowing exactly how I should do so, I figured it might be a good idea to glean a few secrets from a proven successful investor. Hence, I read The Warren Buffett Way from cover to cover, hoping to learn a few things.

And what did I learn? I learned that I am not Warren Edward Buffett. Unlike Mr. Buffett, whose circle of associates includes all of the Beautiful People of Corporate America, I am surrounded by ordinary people, more than a few of whom are looking for a way to get rich quick. Whereas Mr. Buffett is patient and thoughtful with his investments, most of the people I encounter are thoughtless and reckless with their gambles. These two things, which I increasingly began to ponder as I read this book, distinguish me from the Oracle of Omaha, and quite possibly from most readers of this book.

The book consists of nine chapters, and is mostly historical in nature. It details many of Buffett's past exploits in the stock market, mostly the good moves but also some bad ones, and offers some of the principles guiding Mr. Buffett's stock investing strategy, grouped into three classes called Management, Financial and Market Tenets. The first four chapters of the book delve into the early history of Berkshire Hathaway, the key influences on Mr. Buffett which helped to shape his investment philosophy, Mr. Buffett's perspective on the financial markets, and the principles by which he goes about purchasing a business. The last five chapters of the book give example after example of some of Mr. Buffett's past stock moves, and tries to show his Tenets in action.

The style of the book is mostly active until the fifth chapter, whereupon it becomes plodding. The book is extremely repetitive at points, and as other reviewers have pointed out, key concepts are not fully explained up front, suggesting that the possible target audience for this book are those having a strong background in the general principles of economics and business.

In all honesty, I have previously encountered most of the content of this book in coursework or self-study. I previously read Mr. Hagstrom's The Warren Buffett Portfolio, and found the two books to be similar in some respects. That said, I still found this book to be very interesting and useful, primarily because it exposed me to an investment approach which utilizes these concepts in ways I had not previously considered. I also found it highly interesting on an anecdotal level, given that Mr. Buffett's investment career spans The Go-Go Years, The Nifty Fifty Stocks and the 80s and 90s Tech Stock Boom, and yet he never once participated in these tech-stock manias but handily outperformed tech stock investors nonetheless.

Like I said, I am not Warren Edward Buffett and I can not expect or even hope to do what he does, but that does not mean that I can not think like him. Even Mr. Buffett cautions the small investor in this regard, as there are things that he can do that none of little guys can do. Yet, he also has said that there are things the little guy can do that he can not do. That said, the book deserves to be read by any one lacking the ability to reason through the process of investing. However, readers at all levels should not stop with this book. Others have pointed out that one could get even more information straight from the horse's mouth- the Berkshire Hathaway website.

On the other hand, as this information details past moves for which the conditions surrounding them are most unlikely to come around again, I believe that the more astute reader looking to learn more should consult The Money Game by Adam Smith for a brief historical look at financial foolishness (albeit the late sixties but the resemblance to Right Now is striking), The Theory of Investment Value by John Burr Williams for Buffett's original basis for valuation, and The Intelligent Investor by Benjamin Graham for a more detailed explanation of the concepts of margin of safety, intrinsic value, and the benefits associated with ignoring the market noise. These three books will help one learn how to reason through the investment problem, as this is the most important step, aside from finding smart people (as Mr. Smith admonishes forcefully in The Money Game and Buffett has consistently done) and thinking more but acting less (as Buffett has said- do a few things right and screw everything else). ... Read more

Amazon.com

Most people come to know of Warren Buffett through his ability to generate wealth. However, as Janet Lowe reveals in her book, Warren Buffett Speaks, Buffett is more than a money-making machine. Warren Buffett Speaks is a library of notes and quotes that have been collected over the years, aimed at revealing the many aspects of the World's Greatest Investor--his wit, personality, and wisdom. The first half of the book deals with Buffett's view of life, family, and friends, while the latter half focuses on Buffett's investment philosophy and observations about the market. This book is a must for every Buffettologist. ... Read more

Reviews (11)

If you like Warren Buffett, you'll love this book!
I'm a big fan of Warren Buffett already, but I have to say this is one of my favorite books of recent years. It's quite an easy read and very well written. Authored by someone who also appears to be a big fan of Warren Buffett. The book is well laid out, with sections on a number of topics. It imparts a variety of Mr. Buffett's business and investing wit & wisdom through quotes and interesting stories relating to both his personal and investing life. Not only may this book help you become a better investor, but it may also help you become a better person as well. Highly recommended, whether you invest in stocks or not.

A good effort in collecting Warren's quotes in his life.
A good introductory into the life of Warren Buffett. Though it was too generalized for me. The price was a bit steep too. It's a relaxed, easy to read book. Overall, you could learn from some of the quotes in the book. Not bad.

Random thoughts¿
This books should be called "The random thoughts of a rich old man." It appears to me someone followed Mr. Buffet around and wrote down what ever he said then thought "how do I present this is a book?, oh how about a random collection of dis-jointed thoughts! yea that's it!!"

Excellent! A must read for any investor
The ugly front page had deterred me from buying this book. Fortunately, I still bought it with the strong recommendation of a trader friend. Otherwise, I would have regretted for omitting such an excellent read.

In short, this short book is a concise but wise collection of what Buffett spoke about life, work, running a business, investing blah blah blah. It easily convinces me why Buffetts is the most successful investor (he's the richest guy) in history. Things are always easier said than done, but Buffett proved that he had done what he spoke. I had read many books about Buffett and value investing. I think this is by far the best considering value/quality per page. I strongly recommend you to read some sample pages available right here in Amazon and I bet you would love to own the book at once.

A Collection of Quotes
This is the wit and wisdom of Warren Buffet, the "World's Greatest Investor." Not all of the quotes are from him but are from friends, family, and colleagues. As mentioned in the book, this is more along the lines of Will Rogers. It is not strictly aphorisms on investing.

Just seeing Buffett's name sparked my enthusiasm in the book. Thinking this book would have a lot of investing tips, I was disappointed. The first part of the book consists of sayings on life in general. As the book progresses, then some investing thoughts are covered. When they are covered, they are not easily converted into a personal strategy to make a quick profit.

This does not mean that it is without merit. The key idea I will take from this book is to invest in companies rather than stock. If your research shows that the company is solid, you should invest in that company. Another idea is to invest as if you were going to leave for 5-10 years and had no way to change the investment.

There is a repeat of at least one quote. "You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ." A rather encouraging thought about investing.

If you are looking for a guide to investing, then this is not your book. If you were looking for ideas to think about that would help shape long-term goals, then this would be more helpful. I would wait for the book by Warren Buffett. ... Read more

Reviews (2)

The Best of the Many Books on Buffett
Several years ago, I saw John Train's "The Money Masters" and "The New Money Masters" on a list of the ten best books on investing, along with Graham and Dodd and the like. It is hard to disagree with that assessment. The man is highly intelligent, understands investing and writes beautifully.

"The Midas Touch" is cut out of the same piece of cloth -- succinct and perceptive. Unfortunately, it is currently out of print, so if you can find a used copy, buy it.

The Art of Good Sense
John Train details stories about how Buffet built his fortune by buying up companies who's value was high, but the stock was low for one reason or another. Buffet leaves nothing to chance. If you are serious about investing, this book will interest you, because it does not just apply to someone who buys entire companies even the small investor can benefit from this. ... Read more

Book Description

The definitive biography that transports readers into the world and mind - of the legendary Warren Buffett. The financial world's ongoing fascination with Warren Buffett is insatiable. Of Permanent Value hits bookshelves as the most comprehensive, informative biography yet on the investor who, through knowledge, savvy, and hard work, became the world's second-richest man. Avid investors will even find a chapter detailing Buffett's unprecendented investment record, quarter by quarter. Filled with fascinating strategies, compelling stories, and rare photos, Of Permanent Value delivers a hard-hitting but highly readable story of how Buffett built his empire - and what he plans to do next. It gives investors and Wall Street enthusiasts at every level: Behind-the-scenes stories of Buffett's remarkable rise; Personal details of Buffett's best investment moves; A candid examination of history's most successful investor. ... Read more

Reviews (19)

The encyclopedia od all things Buffett
This book is the reference manual for any serious student of Warren Buffett. Besides all the inside scoops and anecdotes, there is a lot (and I emphazise lot) of thought provoking information within. Don't let it's size fool ya! It's an easy read. No investor should be without a copy of this book.

We all know Warren Buffett is the greatest investor.
I have tremendous respect and admiration for history's greatest investor. Andrew Kilpatrick chose a different style, short chapters of other people telling stories of Warren, and not a dry traditional biograpghy.

Mr. Kilpatrick did his homework on this story, but I was annoyed at the length of this biography. Yes, there was some humor and interesting insights in to Warren's life, but I got the picture about half way through the book. That picture is simple, Warren Buffett is the best.

Kilpatrick needs an editor
If an editor took out all the repetitious, irrelevant waste from this book, it would only be 200 pages. There are much better books about Buffett and BRK, and the annual reports are fabulous, but this book is a waste of time. It is poorly written and badly organized. It is as if he had written 100 short newspaper articles, and strung them together into a book about himself and his own relationship with BRK. He is obviously a nice man, and I am sorry he has not written a better book.

Hero worship.
The other biography of Buffett is by Lowenstein and is far superior to this disorganized, fawning, but very detailed work. The flattery of Buffett gets so thick in this book it's sickening. Some of the other reviewers have done a good job of describing the other problems with the book so I won't go into detail. It does have its strengths -- exhaustive detail and excellent sources -- the guy did serious amounts of research. My suggestion: by all means read this if you are an "intelligent investor" (but use a library copy). If you want to buy a book on Buffett, get Lowenstein.

For "Berk-Heads" Only
This is a relatively well-written book, telling the story of Warren Buffett in great detail. Let me emphasize this last part by repeating it: it tells the story of Warren Buffett _in great detail_.

Author Andrew Kilpatrick has tackled his subject with the dedication of a stalker. Throughout _Of Permanent Value_ readers will be told, not just how WEB has accumalated a mind-boggling fortune, but also how well he tips (or doesn't), who his favorite philosopher is and what type of car he drives. You'll learn of the different groups of Buffett fans, the relatives of Buffett, the foundation that will spread around his wealth after he's no longer tap-dancing to work. And you'll read accounts of (random) people who saw Buffett in China, who taught or went out with him when he was younger, and so on and so on ad infinitum.

As such, the book is primarily for those who want to know more about who Warren Buffett the person is, than about how one can be more like him financially. To those, then, who want to know how to invest like Buffett I do not recommend you read this book--at least not until after you've read the other, better books on this subject. These are _The Warren Buffett Way_ (my favorite), _The Making of an American Capitalist_, and _How to Pick Stocks Like Warren Buffett_.

If you, however, _do_ want to know much more about Buffett than the average person, this book can not be recommended highly enough. Everything has been written down in the pages of this book--the only thing that wasn't discussed was whether Buffett wears boxers or briefs. (I'm sure Kilpatrick's saving this one for the next, revised edition however.) ... Read more

Book Description

Written for both the novice and experienced investor, this fascinating blend of biography and keen investment analysis has garnered acclaim in the world of high finance.

Nikki Ross has struck the mother lode about how to invest wisely in an increasingly uncertain world.The easy to follow investment insights she's gathered impart the various strategies of these "superinvestors" and explain how to integrate and implement them in today's markets.Five lifetimes of legendary Wall Street wisdom are distilled into three brilliantly simple steps.Readers will learn how best to gather the information and find investment leads; evaluate the data; and when to buy, hold and sell. ... Read more

Reviews (11)

Just read the "Evaluation" part
This book discusses on the techniques Warren Buffet (value/growth), Benjamin Graham (value), Phil Fisher (growth), T. Rowe Price (growth), and John Templeton (growth use or have used to make their fortunes.

The book is divided into 6 parts on one each of these legends and another on how to combine the knowledge of these experts. The sections are organized in an interesting way first off you learn what some of the stocks the well known investor has bought and why they met their purchasing criteria. There is also a nice 3 steps to how you can use their methods in your investments, this in turn is organized by:

1. Gathering information (this part it almost worthless in my opinion since it is very similar for each of the investors)

2. Evaluate (this is the best part of each of the areas in the book, you learn the questions these masters would ask a company and themselves. It's very good.)

3. Making decisions discusses how the masters decide when to buy and sell the stock.

This book and "The Money Masters" by John Train are interesting reads if you enjoy learning about the careers and wisdom these masters are willing to share.

I believe this book wouldn't be very useful for strict CAN SLIM investors or day traders but good for the buy and hold or long term growth and value investors it definitely shows you some of the possibilities.

Reed Floren

A Classic "Must Read" Investment Book
Nikki Ross has documented principal strategies and investing advice from the great Wall Street legends of our time. I have found the underlying principals of Buffet and his mentors as well as Price and Templeton to be very helpful. It is an easy to read enjoyable book. It may not be for day traders in general, but they could benefit from the list of questions asked by the masters before investing. I believe that had many investors read and applied this book prior to and during the recent crash, they might have saved a lot of money.

Blake Conant

A Must Read for Investors
This book has a refreshingly commonsense approach to investing. It contains a great deal of worthwhile advice and wisdom from some of the world's best investors. I am not an experienced investor, however I found it to be understandable and learned useful information from it. I would highly recommend it.

Worthless
This book is worthless. The true 'lessons' make up only a few pages of the book and these lessons are not detailed enough to make financially sound decisions. For example, a lesson such as "What is the PE Ratio?" is similar to what you would find in the book. OK, the PE ratio is 3. Is that good? Is that bad? How about 40? What is high? What is low? Do current interest rates effect PE ratio levels? What is an acceptable PE ratio for a growth stock? What is an acceptable PE ratio for a cyclical stock? You'll get no answers from this book.

The best "lessons" section (though still unacceptable) came from John Templeton. But these were a direct quote from an interview Templeton gave the Christian Science Monitor. The author must have spent a few weeks writing this book.

Most of the book is babble, reproduction of articles/reports, duplication of previous sections, and educational definitions for the newbie.

My lesson to you is to take the money you were going spend on this book and go buy a U.S. Savings bond. You will be richer and wiser in the end.

Not all its cracked up to be...
...- I bought the book BUT Nikki Ross gives a basic three-step approach to investing, that is repeated throughout the book. 1. Collect info, 2. Analyse info, 3. Make a decision. And that's about as complex as the book gets.

Don't waste your money, unless you're after a very simplistic overview of investing. ALL OF THE FIVE STAR REVIEWS OVERRATE THIS BOOK - 1 Star (at best).

...

If you're after real value on practical management implementation tools that link strategy & financial numbers then YOU HAVE TO INVEST IN "Performance Measurement & Control Systems for Implementing Strategy" by Robert Simons. ... Read more

Book Description

This book stands apart with its fresh look into how Buffet has become the richest man in America. ... Read more

Reviews (7)

Packed With Knowledge!
A sentence crafter happily at work, James O'Loughlin imparts clarity with literacy. On the rare occasion that his industrious research does not find just the right quote from Buffett or Munger (chapters average 90 footnotes), he uses their favorite metaphors from sports and life. This is excellent writing that falls short only on prophesy and damnation. Buffett must pass Berkshire on to an heir in the next decade, but exactly who might follow him is given short shrift. How this unknown magician might cope with Munger (too old to be an heir) is avoided carefully. The manuscript was begun before September 11, 2001, created insurance chaos, but O'Loughlin doesn't elaborate upon it, beyond suggesting that chaos benefits Buffett - whose main float derives from super catastrophic insurance and reinsurance. We recommend this volume highly - along with getting to know the Real Buffett, you will learn a tidy amount about economics.

Great Insight!
Mr. O'Loughlin provides a high quality analysis of Mr. Buffett's leadership style, rational behaviour and critical self-appraisal. The book is well-researched. Even more important, it is well thought out. There is truth here. The challenge for the reader is to look in the mirror and acknowledge how little he knows, then go forth and allocate capital on that limited basis.

Another Warren Worshipper trying to get rich off the man.
This book is simply a summary of all the other books about Warren Buffett. It is interesting & tries to distil the concepts, but doesn't really add to our investment knowledge, unless you haven't read anything about Warren before. The continual references to Jack Welsh also seem redundant. You would be much better off reading "Making of an American Capitalist" by Roger Lowenstein which is the definitive Warren text. However, it is easy to read & gives a good overall view of the Buffett approach, but a lot of it is assumption or extrapolation based on other writers, shareholder letters & a bit of psychology thrown in for good measure. No important players were actually interviewed & given that the writer is based in the UK it appears he just pulled out his collection of Warren books, a psych. text & Jack Welsh's biography then started writing. The Warren worship is getting a bit tired.

Very well written and very readable book
I have read this book during 4 days (mostly evenings) and when I started to read, I could not stop. Frankly, it is one of the most readable books about investment business which I have ever read. And more - although I am also fan of Warren Buffett, I have discovered lot of things which I simply do not know before. I have also discovered lot of new things about insurance business in which I am working for many years and I thought I know it very well. Lot of good ideas for me, five stars for author.

Packed with Knowledge!
A sentence crafter happily at work, James O'Laughlin imparts clarity with literacy. On the rare occasion that his industrious research does not find just the right quote from Buffett or Munger (chapters average 90 footnotes), he uses their favorite metaphors from sports and life. This is excellent writing that falls short only on prophesy and damnation. Buffett must pass Berkshire on to an heir in the next decade, but exactly who might follow him is given short shrift. How this unknown magician might cope with Munger (too old to be an heir) is avoided carefully. The manuscript was begun before September 11, 2001, created insurance chaos, but O'Laughlin doesn't elaborate upon it, beyond suggesting that chaos benefits Buffett - whose main float derives from super catastrophic insurance and reinsurance. We from getAbstract recommend this volume highly - along with getting to know the Real Buffett, you will learn a tidy amount about economics. ... Read more

Book Description

"Buffett has generously endowed us all with a sensible and intelligent roadmap for investing." - Robert G Hagstrom

"Warren Buffett - The Oracle of Everything. He has been right about the stock market, rotten accounting, CEO greed, and corporate governance. The rest of us are just catching on." - Fortune

"Warren Buffett has turned value investing into an art form, piling up the world's second largest individual fortune and persuading millions to mimic the low-tech, buy-and-hold style of stock picking he practices at Berkshire Hathaway." - Time

"Buffett and Munger are, without doubt, two of the greatest investors and capital allocators of all time, so investors would be well served to study their thinking carefully." - The Motley Fool

"Warren Buffett - Ace stockpicker, and now, an empire-builder." - BusinessWeek ... Read more

Reviews (1)

An Easy Read, not for the Humor-Impaired.
I bought multiple copies of this book for my clients, and they all loved it! Not only is it easy to read, it covers alot of interesting areas like:

* Buffett's WPO delivery antics
* The GEICO interview
* Saving Salomon
* Charlie Munger Partnership

raytoei

ps. Charlie Munger looks better as Manga Charlie. ... Read more

Book Description

From the author of The Money Masters and "America's pre-eminent investor" (Business Week), this book ". . . imparts a wealth of lessons for any investor to emulate, no matter how skilled."The Market Chronicle ... Read more

Reviews (2)

What It Takes to Be a Good Investor
Before judging this book one should understand that it was written in 80's, those dark ages of investments. Therefore the approach taken by the author is to create an "awe" without going into any specific details about the Buffett's approach. I really liked the briefness of the book. Lots of information on his life is packed in hundred pages or so.
Best part of information there is is the part on how to invest like Buffett. Most valuable advises are: Look, Understand Figures, Value of Parts, Want It Enough, Innovate, Be Risk-Averse, Energy.
Overall, nice quick read.

Save Your Money.....
If you want Warren Buffet by John Train.....read his excellent 'Money Masters'.....his chapter on Buffet is first rate, and the entire book is worthwhile for both novice and experience investors. The best Buffet Book is the recent Roger Lowenstein book.... ... Read more

Book Description

Supplying lessons from today's most celebrated and successful business thinkers, DK's Business Masterminds series is perfect for people hoping to advance their corporate careers, make their own businesses grow and prosper, or achieve personal goals. In addition to providing overviews of each mastermind's most influential writings and speeches, each title is packed with full-color charts, diagrams, and photographs that graphically illustrate complex concepts. ... Read more

Reviews (2)

If you can't beat them join them
As a member of the proletariot, I have found after years of immense slumber that value investing is the way to go. True kapitalism is not perfect, but communism seems far worse. So in conclusion Komrads, value investing is the best way for the proletariot to enter the bougerousie.

good reading for business minds
I would strongly recommend the book for all MBAs, serious investors.

It provides valuable insights into the art of investing and conducting business. The practical aspects of what is not taught in B schools are covered in the book. ... Read more

Book Description

"There's something about smart people explaining ideas to an orangutan that makes their decision making better."

- Warren Buffett

He's an American icon, the world's most famous and most successful investor every financial move is widely reported and copied, his every utterance scanned for meaning. The secret of his success? Let Buffett tell you. He has a few thoughts on the matter.

Thoughts of Chairman Buffett is pure, unadulterated Buffett: a collection of his wittiest, wisest, and most quotable quotes. Compiled by Siimon Reynolds from decades of Buffetts speeches, writings, and interviews, they include gems on such subjects as . . .

Hiring

"Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don't have the first, the other two will kill you.

How to Get Wealthy

"I will tell you the secret of getting rich on Wall Street. You try to be greedy when others are fearful, and you try to be very fearful when others are greedy."

This is Buffett at his best: pithy, funny, unforgettable. These pearls of wisdom will make you laugh-and think. They'll give you sound advice and teach you truths about business and life.

Thoughts of Chairman Buffett offers a lifetime of wisdom at your fingertips. Once you enter the world according to Buffett, you'll never see things in quite the same way again. Siimon Reynolds is a writer and advertising executive living in Australia. A longtime fan of Warren Buffett, Reynolds collected these quotations from a variety of sources, added the headings, and arranged their order of presentation for this volume. At the end of the book you will find Mr. Reynolds's interpretation of Buffett's basic rules of investing. ... Read more

Reviews (4)

succinct and powerful
I've read numerous books about Buffett. What i really like about this book is it's brevity.
The author has assembled Warren's most poignant, pithy and brilliant quotes in one short , sharp book.
I learnt more about Buffett's philosophies from the this little gem than from any other book on the subject.
Frankly, it's a pity most other busineess books aren't this succinct.An outstanding read.

The 'Vest-Pocket' Warren Buffett
This is a great little book that encapsulates the life and investment career of the most widely written about investor in history, Warren Buffett. It is a collection of Warren's wit, wisdom, humor and charm spanning his very successful career as Chairman of Berkshire Hathaway. The book is a collection of quotations covering everything from hiring people to his final goal: "What I want people to say when they pass my casket is, Boy was he old!" This little book is inspiring, funny and gives insights into what made Warren so successful. The author, Siimon Reynold, ends the book with a basic interpretation of Buffett's rules of investing. I call this book the "Vest-Pocket" Warren Buffett. It is an easy read that you'll refer to over and over.

A fifteen minute read
A fifteen minute read of various quotations by Warren Buffett. It ends with a brief summary of his technique. Build a focussed portfolio of shares in businesses you understand. These businesses are growing. Buy when they are selling at attractive prices only. Hold them while they continue growing. Allow compounding and earnings reinvestment to work for you.

Shell the few dollars to get the book if your a Warren fan.
Hmm. For around 8 beans, you get Warren's quotes. Should you get it? Only if you hang onto every one of his words. Overall, the book was short and all right. Some excellent quotes to take note though. ... Read more

Book Description

Warren Buffett is known as the billionaire investment expert of the century and everyone would love to know the secret of his success. In his own words, Buffett is just a regular guy who likes fast food, honest work, and people he can trust. Throw in incredible instincts, a genius for numbers, meticulous research, and an almost sure-fire investment philosophy, and you begin to understand how he's become a legend in his own time.

With just a few thousands of dollars from relatives and friends, and by taking calculated risks with small companies and staying with them, he managed, almost single-handedly, to turn Salomon Brothers around. Giants like Disney, American Express, McDonald's, Gillette, and Coca-Cola have all been affected by Buffett's magic touch, and he owns a chunk of all of them. By thirty-one, BUffett had already made himself a millionaire, and he's worked his way steadily toward the top of the Forbes list.

Here is a fascinating portrait of Warren Buffett, known for his investigating genius, his sense of humor, and his mean turn of a phrase. It's an amazing story of a man who carved his own path through American business by doing his homework, backing companies he believed in, and growing rich on their success-a story that will show you that opportunity abounds for anyone willing to go for it. ... Read more

Reviews (3)

Good book for Warren Buffett newbies
I am just getting into Warren Buffett and his Berkshire Hathaway stock. If you are looking for a quick easy read on the history of Warren Buffett and his company, this book would fill that need. This book covered the Buffett history and explained how the "Baby Berkshires" came about. I am sure there are other books that go into more detail, but this book will be a good book to start with.

A waste of time
I have read every book regarding Warren Buffett and in my opinion this one is by far the worst. I would urge readers to spend their money on other Buffett books. Any of the other ones would be better than this one.

This one simply regurgitates everything already written about the man and it's not even done with originality.

Warren Buffett: Master of the Market
This book does not reveal anything new about WEB ... Read more

Reviews (1)

The best book about Warren Buffett
I only only finished 77 pages of this book. It was by far the best book about Warren Buffett. I had read "The Warren Buffett's Way" and "Buffettology".Bill, a Berkshire Hathaway shareholder ... Read more

Book Description

This biography of investor Warren Buffett tells how he forged Berkshire Hathaway into a $100 billion company. The book uncovers almost all the Buffett legacy in 1,500 pages and 750 photos. It's called the California Edition because of:

1. Buffett's backing of Arnold Schwarzenegger in the California eletion.
2. The tracing of a group of Stanford Business School students who heard Buffett speak there decades ago. Their remarkable careers are followed in light of Buffett. One student turned over word-for-word notes from a talk Buffett gave there in 1978.
3. A rare interview with Harry Bottle, 84, of California, who was Buffett's early Mr. Fix-it. ... Read more

Reviews (5)

Not what I expected, but...
I bought an earlier edition of this book thinking it would be a regular biography of Warren Buffett. Instead, it's a strange, very lengthy collection of information about him. The writer rambles and digresses a LOT. But it's not a bad book, for what it is, and you can pick up some investing info amid all the trivia. Just don't expect an ordinary biography.

A one volume encyclopedia of Warren Buffett
There are a lot of books vying for your money that bear Warren Buffett's name. Only one of those books bears his endorsement - Of Permanent Value.

If you are building a Buffett library, I recommend starting with his own words in the form of Buffett's annual letters to shareholders, many of which are available on the Berkshire Hathaway website for free. Next you need get Of Permanent Value. Think of OPV as a one volume encyclopedia about everything Buffett.

Like a good encyclopedia, you never know what you'll find in Of Permanent Value - profiles of the people and companies that Buffett invests in/with and equally important, the people and companies who invest in/with Buffett. Vital investment information, with good humor and Buffett trivia mixed in. Reading OPV is a little like opening a treasure chest - you never quite know what you'll find inside!

I have owned every edition in OPV - Mr. Kilpatrick does an amazing updating the book so that its important to get the latest editions to remain current. I usually buy a few copies because OPV is literally so big that its difficult to carry from place to place. So, I just keep a copy at home, a copy at the office, and a copy at my in laws.

By the way - every single one of those other Buffett books you see on Amazon all cite Kilpatrick as a source. Start your Buffett book buying here. You aren't serious about Buffett or investing if you don't own it.

The TOTAL Warren Buffett for the Serious Fan
This is the biggest and the best of Andrew Kilpatrick's several books about billionaire investor Warren Buffett, not only because it's a well-organized volume of chapters that can be read in order, or individually standing alone.

There are hundreds and hundreds of photos of Buffett through his life, his family, his friends, his fans, key Berkshire managers and even historic documents that you won't find anywhere else.

This is a book you will be proud to own, and it will be a valuable resource of financial facts and figures and stories about Buffett's life and legacy.

Andrew Kilpatrick has written the encyclopedia of Warren Buffett. It also happens to be visually appealing and entertaining.

OPV, Behavioral Finance, and Fun
Andy Kilpatrick did a great job as usual. The chapters are organized as short stories. These stories and pictures take the reader into the world that surrounds Warren Buffett, Charlie Munger, family, friends, fans, and the Berkshire Hathaway subsidiary companies. The book is a solid account of Warren Buffett's and Berkshire's history. Furthermore, it includes many of the people that have been affected by this growing phenomenon called Berkshire Hathaway.

The author presents the story with a good sense of humor and he captures the spirit of fun each of these people bring to the annual meetings. I almost fell off my chair after seeing page 1464. This biography of investor Warren Buffett includes 1,500 pages and 750 photographs. It is a real valuable addition to anyone's library, and it is offered at a bargain price, relative to its intrinsic value. For those new to the study of the Buffett-Munger investment phenomenon, this book is a "must have" to your collection. The Compounding Success of the Graham-Dodd-Buffett-Munger investment ideas are conguent with ideas presented in the OPV book. Forget the Efficient Market Hypothesis! In an old school paper entitled the "Compounding Success Model", found somewhere on a web search, I had concluded that 10 major factors contributed to the Compounding Success of the Graham-Dodd-Buffett-Munger investment approach:
1. Rational and thorough business analysis, with keen emotional intellects that promote ethical information exchange.
2. Wide experience with analyzing and managing numerous different businesses.
3. Charlie Munger's Role as (a.)"Devils-Advocate" (Munger as therapist/analyst of investment decisions) and (b.) Munger's role in encouraging further limiting the portfolio towards "wonderful businesses."
4. Leverage via a Low Cost of Capital from Insurance Operations
5. Disciplined Tracking of Understandable Businesses
6. Analysis of Strategic and Sustainable Competitive Advantages of Industries and Businesses. Warren Buffett has a Masters in Economics from Columbia University and Charlie Munger has a Law degree from Harvard University. Both have a variety of operational business experiences.
7. Trustworthy First-Class Managements with proven track records.
8. Ben Graham's Mr. Market and search for the Margin of Safety. The Margin of Safety is the bargain obtained when purchasing at a market price below the intrinsic value estimation. Graham and Dodd taught: "An investment operation is one which, upon thorough analysis, promises safety of principal and a satisfactory return."
9. Satisfaction: Buffett stated: "Though "working" means nothing to me financially, I love doing it at Berkshire for some simple reasons: It gives me a sense of achievement, a freedom to act as I see fit and an opportunity to interact daily with people I like and trust."
10. Learning from Practice, Mistakes, and Experiences: "After many years of buying and supervising a great variety of businesses, Charlie and I have not learned how to solve difficult business problems. What we have learned is to avoid them."

Andy's book gives you a more comprehensive view of the human interactions that make these successes possible. I also got a big kick of Andy including my poem on page 1034. This book gives a very good account of Buffett's business and investing evolution. Any student of "investment decision making" should review this work. I learned more about this evolution by reading an earlier OPV edition. It described the growth from Benjamin Graham's classical "Value Investing" to the Buffett-Munger "wonderful business" purchases.

Of Permanent Value: The Story Of Warren Buffett is a big book that will appeal to fans of financial wizard Warren Buffett. It explores how Buffett began from scratch to form a business empire. It includes in-depth examinations of business philosophy while providing a fun and lively read. In my view, time is the friend of the wonderful book, and the enemy of the mediocre one. This one packs a big punch. In time, it will be a bestseller.

The ultimate book for Buffett junkies
Kilpatrick's latest magnum opus is a gem. 256 chapters and 1,478 pages (it weights FIVE pounds!) of endless entertaining, educational stories about the world's greatest investor (and a great human being as well). ... Read more

Reviews (7)

The Buffett Bible
Andrew's book gives you a great amount of information and all the stories that don't show up in other Buffett books or Berkshire Hathaway's annual reports. I loved this book and have several editions (each gets better as more info, pictures and stories are added).

Unfiltered Facts
This book, while it collects many unknown facts does not organize these facts into an easy reading format.

I purchased this book and DISCARDED it because I found it too unorganized to read. The author himself states that he wrote this as a shareholder-admirer and I find very little added value in this book. Read the annual reports and some of the other excellent books instead. You will never finish this book.

Kilpatrick tells Buffett's story with interesting detail
Andy Kilpatrick has updated his work entitled "of Permanent Value, The Story of Warren Buffett." As a stockbroker and writer, Kilpatrick collates many resources in writing this book. He interviews Buffett's friend and family, he quotes from Berkshire Hathaway annual reports and the famous Chairman letters, and he harvests data from the annual reports of companies which Buffett has owned. Kilpatrick proudly relays stories of the many hours he has pesonally spent with his hero, Warren Buffett. Buffett has told Kilpatrick that he "wishes him well, but not too well" because Buffett intends one day to write his own story. Apparently Buffett approves of Kilpatrick efforts since Buffett has met with the author several times after the 1994 edition of this same title. For a reader interested in learning about Warren Buffett this book is a great starting point and worth the purchase price. For the longtime student of Buffett's writings or to the richly rewarded Berkshire Hathaway shareholders this book offers much value. The story of Warren Buffett's success is amazing when learned for the first time and on rereading that story gets even richer. Andy Kilpatrick has retold that story with full and interesting detail.

Kilpatrick is the Expert on Buffett Biographies
No author gives as thorough and complete coverage as Andrew Kilpatrick on the remarkable life of Warren Buffett -- this meaty book is full of Buffett's investment philopophies, old and new photographs, historical documents and displays, and easy to read chapters. Any Buffett fan must have this book to enjoy.

All Buffett Fans Must Read!
For the most comprehensive and valuable information about Warren Buffett and his remarkable life, this book covers all the bases. There are more photos than any other Buffett bio I've read, as well as more human tidbits about his wit, his friends and his enterprising childhood. ... Read more

Book Description

This extensively updated biography of Warren Buffett contains 1460 pages and 568 photos. ... Read more

Reviews (6)

If you're looking for detail, you came to the right place!
This is obviously the most comprehensive book ever written on the life of Warren Buffett, the undisputed world champion of investing. This is not a quick "How to invest" book, but if you are looking to learn as much as you possibly can about Warren Buffett and the cult of investors who make the Berkshire Hathaway annual meeting a "Woodstock for Capitalists", this book is for you. As an added bonus, at over 1,400 pages you will be sure to have a functional doorstop when you have completed reading this monster.

too thick, but I like it and enjoy it.
I was attracted by the first edition of this book(in chinese). Really interesting.

So I bought this latest version.

Wow!
This is a great book that adds detailed research not included in Warren Buffett's annual reports for Berkshire Hathaway.

Recommended highly!

Will appeal to fans of financial wizard Warren Buffett
Of Permanent Value: The Story Of Warren Buffett is a weighty tome will appeal to fans of financial wizard Warren Buffett, exploring his newfound popularity in wake of the latest stock market environment and exploring how Buffett began from scratch to form a business empire. Rises and falls blend with in-depth examinations of Buffett business philosophy and perspectives to pack in over 1400 pages of detail in a surprisingly lively read. Biography and business savvy makes for an intriguing blend, here.

"The Buffett Bible"
"The Buffett Bible...It provides the definitive story of his career but it also has space to shed light on Buffett the man. What it reveals is the connection between his success at investing and his character." -- Daily Telegraph ... Read more

Book Description

Of Permanent Value: The Story of Warren Buffett/2005 Edition is a fully updated and expanded biography of investor Warren Buffett. The book has 1,542 pages and more than 850 photos. The front cover features a photo of the 15.8 people who work at Berkshire Hathaway headquarters in Omaha. ... Read more