What I Learned From Warren Buffett

My conclusion from reading this book is that while Buffett’s techniques work for him , Phil’s approach can work for you, me, or anyone. Buffett was frustrated with College, feeling that he wasn’t learning anything. He graduated in 3 years, but was turned down by the Harvard business school.

Buffett’s determination from a very young age to some day be very rich as well as his innate ability to comprehend and retain numbers meant that he was able to do just that. I hear this is not the best book to learn about his life thus far, but it was a very enjoyable one. Journalist roger lowenstein draws on three years of unprecedented access to buffett’s family, friends, and colleagues to provide the first definitive, inside account. In the annals of investing, Warren Buffett stands alone.

This question of generizability relevant not just because it’s what readers will wonder in their self-interest, but because Buffett saw as a matter of honor the defense of his investment philosophy. This is the most influential account on investing I’ve ever read.

The Four Pillars Of Investing: Lessons For Building A Winning Portfolio

Unlike other investors or executives, he said “No” frequently, and didn’t suffer fools. But the other thing I think this biography misses is Buffett’s competitive streak. Lowenstein attributes Buffett’s accumulating tendencies to his lifelong fear of death. I would also say that the book misses some of Buffett’s competitiveness, which is expressed in his desire for a level playing field and his strong belief, vindicated of course, that he could win on one. Buffett seems to have embodied John Maynard Keynes dream that stock investors would “marry” their investments, instead of just treating them as a short-term fling.

• For example, Warren likes to say that there are no called strikes in investing.
• Each bull run, Lowenstein points out, is characterized by some self-serving rationalization.
• The last thing is that when Buffet decides to buy a stock, he keeps it and never sells.
• When he was 27, Buffett bought a house for $31,500, which is located in a quiet neighborhood of Omaha, Nebraska.
• If you’re an investor or looking to dabble in investing, this biography is certain to intrigue you.
• I think it is the best Warren Buffett book that I’ve read.

Aspects of his relationship with Susie Buffett were also left out . Definitely has more of a tilt of Buffett as an “American capitalist” than Buffett as a person. I know that I am being subjective writing this, but it’s more for the future me that for others. It is biased from the point of the people living in the privileged world of white man, upper-middle class. Some people will like this book and might even find some wisdom about managing the business or “money-making”. I do not see any wisdom in this book for myself and for an average industrial worker trying to pay his bills to survive.

At this moment I am so disgusted at my former self, when I was working as programmer, ignorant of the life around me, the context I work in. I had a good salary but I was not doing very ethical work myself. But many programmers are fine with that as long as paycheck is heavy and so called financial independence is not far away. Not trading strategy many people in our world are so privileged like programmers are. Unfortunately, some programmers are paid to be ignorant. My policy on book reviews is to give you my honest opinion of the book. From time to time publishers will give me a copy of their book for free for the purpose of me reading the book and writing a review.

Business Adventures

Buffett’s father was fundamentally decent, but also strict; and he was not just a conservative, but almost a radical, and for awhile a member of the John Birch buffett: the making of an american capitalist Society. His mother, although kind, had manic and violent episodes. One friend recounts how Buffett would almost recoil when his mother came to hug him.

Warren’s gift is being able to think ahead of the crowd, and it requires more than taking Warren’s aphorisms to heart to accomplish that—although Warren is full of aphorisms well worth taking to heart. Roger Lowenstein is well known for writing extremely engaging and thoroughly understandable books about business subjects . He really does a great job of shedding some light on one of the most interesting men in american history- I was fascinated from cover to cover. I don’t generally admire rich men for being rich, but in many ways I find Buffett’s sincerity and his brand of generosity to be endearing. For fans of the Efficient Market Hypothesis, like myself, Buffett, much like James Simons, has long presented a dilemma. This book does show that Buffett did more than just pick stocks.

Friend Reviews

A deal with a chocolate company was one of the noteworthy deals of his. In 1954, the price of cocoa skyrocketed and Buffett saw the opportunity. A chocolate maker from New York consulted to Graham-Newman and Buffett gave the idea that they could liquidate millions of pounds of cocoa and sell the beans to stockholders in their company. He realized that the future of cocoa is bright, so he made the deal. It was a win-win deal both for the chocolate maker and for Graham-Newman. Also when Warren buys a company he doesn’t care about if it’s gonna grow in the future or how much profit it makes, he only cares about one thing return on investment.

In his early teens he already said he would jump off a building if he wasn’t a millionaire by thirty. By his 20s, he was already worrying about his future fortunes spoiling his children. Unlike the modern portfolio manager, whose mind-set is that of a trader, Buffett risked his capital on the long-term growth of a few select businesses. He once wrote that he would no more take an investment banker’s opinion on whether to do a deal than he would ask a barber whether he needed a haircut. If you’re an investor or looking to dabble in investing, this biography is certain to intrigue you. Learning about the G.O.A.T. of all investors and capitalists should be atop your to-do list. Since its hardcover publication in August of 1995, Buffett has appeared on the Wall Street Journal, New York Times, San Francisco Chronicle, Los Angeles Times, Seattle Times, Newsday and Business Week bestseller lists.

The publishers understand when they give me the book that I am under no obligation to write a positive review. One thing I realized is that Buffet has spent a LOT of time reading stacks of annual reports all alone in his study. This is where he put his 10,000 hours and where he derived the insight behind his decisions. He has a wide network and makes a lot of calls but these are usually performed after he has an idea. He also forex keeps a quiet clutter-free office (none of his staff even know what he’s cooking up next) and cuccoons himself in with piles of raw information – no computers, bloomberg screens or endless meetings and calls typical for a money manager. Just enough of a wise outside council to give him the confidence to act aggressively without over-analyzing or diluting his ideas. When things are cheap, Buffet acts quickly and aggressively .

The Warren Buffett Way

Here, I saved the best until last because this book is mind blowing, even though all the principles espoused by the great Ben Graham are detailed in Roger Lowenstein’s book. Whilst a biography, it has plenty of “how to” investment information & will certainly make you into a bettor stock market investor. It is the best book one can read if you have not done any investing in stocks yet-merely to avoid the mistakes & bad habits other stock investors have made & I speak for myself.One understands how Buffet avoided the Dot.com crash & why. Possibly the most interesting thing for me is that Buffet believes that NO ONE can call the market. He says its silly to rely on investment strategies like buying shares on a Monday is better than a Friday & that investing in small caps in December will likely reap you a fortune. I was a committed “growth” investor until I read this book. This book has completely changed the way I have thought about stock market investments & I am intensely relieved to have come across it before making more baseless investment decisions.

Even then, though, he didn’t seem much interested in what his money could do, either for himself or for others. “The money was a proof,” Lowenstein writes, “a scorecard for his favorite game.”

Buffett The Making Of An American Capitalist

When the journalists who had slaved on his behalf during the Buffalo newspaper battle asked him afterwards for a share of the rewards, he said no. “There is nothing anybody on the third floor can do that affects profits,” he told them flatly. Buffett’s legendary decency has not necessarily trickled down to the hired help. Learn more about how we invest Retail foreign exchange trading and some of the principles we follow at Front Street Capital Management. Read on for information to help you lead a smarter financial life. Summary Chronicles Warren Buffett’s childhood ambitions, Columbia Business School education, investment strategies, early investments, and affiliation with American Express, Berkshire Hathaway, and ABC.

Buffett the man has a great sense of business and a great success record. Companies call on him to bail them out when they are in a jam. Buffett studies business models constantly and has an amazing head for business figures. Buffet, as far as this book states, does not believe in God. Now, I don’t want to die, but I know when I die I will be in heaven.