- Paperback: 320 pages
- Publisher: Pocket Books; New edition edition (5 July 1999)
- Language English
- ISBN-10: 0671032488
- ISBN-13: 978-0671032487
- Product Dimensions: 19.4 x 13 x 2.4 cm
- Average Customer Review: 5.0 out of 5 stars See all reviews (4 customer reviews)
- Amazon Bestsellers Rank: 571,688 in Books (See Top 100 in Books)
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Product Description
Product Description
A guide to the techniques and strategies of Warren Buffett, the successful American investor. Using his system to assess a company's potential economic excellence and the right price to pay for its stock, the book demonstrates the actual mathematical models and equations.
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Customer Reviews
Most Helpful Customer Reviews
5 of 5 people found the following review helpful
Format:Paperback
An excellent book that explains in easy understandable language the Warren Buffett way of investing. Mary Buffett was married for over 18 years to Peter Buffett the son of Warren Buffett. Warren Buffett has shared his investmetn strategy with all his immediate family and activly encourages them to investen the Buffett way. She has done an excellent job in making the Buffett investment guide easy to understand and yet interesting enough to all levels of investors.
It is a book I am happy to recommend to all those interested in investing.
2 of 2 people found the following review helpful
Format:Paperback
I would describe myself as a fairly inexperienced investor who learned more from this book than any other i have read and i've read a few over the last year. It gives you a basic understanding of how Warren Buffett (currently the world's 2nd richest man) made his money solely from shrewd stock market investment. Don't get me wrong, in small parts this book can get complicated eg. i missed out the part on arbitage. It was the basic principles that helped me. For someone new to stock market investment a first port of call are the myriad discussion boards on the web filled with the usual "up 20% today again should be £12 by end of year" and the like. This book makes you realise that your main concern should be the business you are actually investing in i.e. what the accounts tell you. Buffett's whole philosophy is based around buying into a business big when he feels it is heavily undervalued and he has convinced himself of its likely level of return over the next decade. The idea that you look at a companys annual reports for the last decade or so and use this to predict future earnings is pretty straight forward. I particularly liked stuff on looking at retained earnings over a set period (i.e. the profits retained by the business after dividend payment) and calculating how much a company has managed to raise it's earnings by relative to the amount previously retained. These concepts are pretty straight forward and give you basic formulas to compare possible investments. i suspect many people dont check these things when they invest. We are also told Buffett tends to invest in certain types of business, what he likes to call consumer monopolies. These are businesses that have found a niche for various reasons, possibly branding such as Coca Cola. He sees these businesses are operating without too much competition and thus concludes they are spared the effects of inflation. When their costs go up they raise the price they sell their product at. It figures that if you go to the shop and want a can of coke and yesterday it was 40p but today its 42p you are still going to buy it. Compare that to something like Internet Broadband providers where customer choice is about as price sensitive as you are going to get. A lot of the rules he appears to work by make sense. He never invests in anything he doesnt understand fully thus he watched Microsoft (biggest "consumer monopoly" of all time) rise and rise but it didnt pass his "must fully understand" rule so he didnt invest. Obviously it is more complicated simply than the above and much more of this is covered in the book. I think the biggest thing you learn from this book is that basically discipline and patience are the two biggest must haves if you want to make serious money from the markets. Buy this book. It changed the way I thought about investing.
1 of 1 people found the following review helpful
Format:Paperback
This is the best book ever written on Warren Buffett's investment methods and I'll read them all! Has the inside information that so many other books are missing. Has a list of all his investments and the methods of how he picks the winners. I love this book and highly recommend it!
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