Shortlisted for the Financial Times and Goldman Sachs Business Book of the Year Prize 2008 The Snowball is the first and will be the only biography of the world's richest man, Warren Buffett, written with his full cooperation and collaboration. Combining a unique blend of "The Sage of Omaha's" business savvy, life story and philosophy, The Snowball is essential reading for anyone wishing to discover and replicate the secrets of his business and life success. Warren Buffett is arguably the world's greatest investor. Even as a child he was fascinated by the concept of risk and probability, setting up his first business at the age of six. In 1964 he bought struggling Massachusetts textile firm Berkshire Hathaway and grew it to be the 12th largest corporation in the US purely through the exercise of sound investing principles - a feat never equalled in the annals of business. Despite an estimated net worth of around US$62 billion, Buffett leads an intriguingly frugal life taking home a salary of only GBP50,000 a year. His only indulgence is a private jet, an extravagance he wryly acknowledges by calling it "The Indefensible". In 2006, he made the largest charitable donation on record, with most of it going to the Bill & Melinda Gates Foundation. The Snowball provides a comprehensive, richly detailed insight one of the world's most extraordinary and much loved public figures.
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Amazon Review
Alice Schroeder’s The Snowball: Warren Buffett and the Business of Life might well be one of the most important books you will ever read -- particularly in a period when the world's various economies appear to be entering freefall. This arm-straining (at nearly a thousand pages) but utterly fascinating book has already -- against all the odds -- achieved an astonishing level of success, given its initially daunting appearance. But it will only take a chapter or so for most readers to see just why this book is enjoying such an unprecedented level of acclaim.
The subject is the life and career of one of the most revered men in the western hemisphere, Warren Buffett (an advisor to new US President Barack Obama) – despite the fact that his name may not be known to most of the general public. Buffett’s story is one that currently has resonances for all of us: a remarkable financial success story. The name of this investor from Omaha is spoken of with admiration by all who know him, despite the fact that he has never written a book on his career or the secrets of his business success. However, he has been persuaded to allow Alice Schroeder to spend time with him and those with whom he works to investigate his business triumphs, his opinions, his mistakes (Buffett is rather winning in admitting to several of the latter – how common is that in his profession?) -- and what emerges is a totally comprehensive biography of the man known throughout the world as ‘The Oracle of Omaha’.
What is most revealing about the picture of the man that emerges from these pages (and Schroeder had access not just to her subject and his business associates but also his wife, children and friends) is that we meet a man of intellect – of course – but also of humanity and understanding, with a philosphy and worldview that is both judicious and principled. In an era in which those in Buffet’s profession are more prone to excoriation than praise, the man we encounter here has a sane and clear-eyed philosophy of life and an attitude to business success that is generously instructive -- and inspiring. --Barry Forshaw
Review
`An absorbing read whether or not you are directly involved in the current financial turmoil.' -- Observer
`An epic account of the greatest capital accumulator in history' -- The Times
`Titanic biography of the oddball financial genius'
-- Sunday Times
`An epic account of the greatest capital accumulator in history' -- The Times
`Titanic biography of the oddball financial genius'
-- Sunday Times
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Most Helpful Customer Reviews
125 of 134 people found the following review helpful
5.0 out of 5 stars
To a great extent, his life has been business...and business has been his life
17 Nov 2008
By Robert Morris
TOP 100 REVIEWER
Format:Hardcover
I recently re-read Roger Lowenstein's biography, Buffett: The Making of an American Capitalist (first published in 1995 and now re-issued with a new Afterword), and then read this more recent one by Alice Schroeder. Both are first-rate. Which to select if reading only one? That depends on how much you wish to know about Buffett's personal life, including his relations with various family members, and how curious you are about his personal hang-ups, peculiarities, eccentricities, fetishes, etc. If you can do without any of that, Roger Lowenstein's biography is the one to read. I also highly recommend the recently published Second Edition of The Essays of Warren Buffet: Lessons for Corporate America, with content selected, arranged, and introduced by Lawrence Cunningham.
The heft of Schroeder's biography may discourage some people from obtaining a copy. To them I presume to suggest that they not be deterred by that factor. Schroeder has a lively, often entertaining writing style that drives the narrative through just about every period and (yes) interlude of Warren Buffett's life and career thus far. There is much more information provided than most readers either need or desire. However, she had unprecedented access not only to Buffett but to just about everyone else with whom he is (or once was) associated as well as to previously inaccessible research resources. It is possible but highly unlikely that anyone else will write a more comprehensive biography than Schroeder has, at least for the next several years, if not decades. Also, her opinion of Buffett seems to me to be balanced and circumspect. No doubt he wishes that certain details about his life and career were not included.... Read more ›
The heft of Schroeder's biography may discourage some people from obtaining a copy. To them I presume to suggest that they not be deterred by that factor. Schroeder has a lively, often entertaining writing style that drives the narrative through just about every period and (yes) interlude of Warren Buffett's life and career thus far. There is much more information provided than most readers either need or desire. However, she had unprecedented access not only to Buffett but to just about everyone else with whom he is (or once was) associated as well as to previously inaccessible research resources. It is possible but highly unlikely that anyone else will write a more comprehensive biography than Schroeder has, at least for the next several years, if not decades. Also, her opinion of Buffett seems to me to be balanced and circumspect. No doubt he wishes that certain details about his life and career were not included.... Read more ›
46 of 50 people found the following review helpful
2.0 out of 5 stars
Too long winded, can't see who this book is aimed at, certainly not the coattail investors.
22 Jun 2009
By Vazza
Format:Hardcover
The bottom line is, at 976 pages, you must really be obsessed with Buffet to put yourself through this.
I'm not saying the book isn't well researched or written but you have to ask yourself, what is the point of this book and why are you reading it?
Speaking for myself, although I assume many had a similar motivation, you might want to find out more about what goes on in Buffett's mind. How does he make such good investment decisions, maybe we can learn something from him. If that's where you are coming from then I recommend Security Analysis by Benjamin Graham with foreword by Buffet. That in conjunction with a book on his most famous quotes for entertainment value.
I'm typically the sort of person that reads a book from start to finish but this one I had to drop before the half-way point. If you're truly a Buffet fan then you'll appreciate the concept of opportunity cost. Instead of reading 976 pages of over elaborate descriptions one who met with whom, what they ate, what they drank, how they split the bill your time could be spent on more useful pursuits/books.
I'm not saying the book isn't well researched or written but you have to ask yourself, what is the point of this book and why are you reading it?
Speaking for myself, although I assume many had a similar motivation, you might want to find out more about what goes on in Buffett's mind. How does he make such good investment decisions, maybe we can learn something from him. If that's where you are coming from then I recommend Security Analysis by Benjamin Graham with foreword by Buffet. That in conjunction with a book on his most famous quotes for entertainment value.
I'm typically the sort of person that reads a book from start to finish but this one I had to drop before the half-way point. If you're truly a Buffet fan then you'll appreciate the concept of opportunity cost. Instead of reading 976 pages of over elaborate descriptions one who met with whom, what they ate, what they drank, how they split the bill your time could be spent on more useful pursuits/books.
39 of 43 people found the following review helpful
By J. G. Phipps
Format:Hardcover
The book starts well although it reads a bit like a hagiography written by Arthur Hailey. That is ok by me I like Arthur Hailey and have always regarded Buffett as a saint. I laughed out loud several times during the first 50 pages.
After this it gets a bit heavier going. There are many insights and many surprises. I had not realised that Berkshire Hathaway lost money from the start and wound up having the textile mill shut down. I had not reliased that Buffett was first a director of Salomon brothers and then became chairman appointed to clean up the mess which he seems to have done with great honour distinction and dignity. I liked the account of the arbitration with the former director Gutfreund who seems to have had it coming. His views on how derivatives spawn risk rather than remove it are very current today. Also his views on the Efficient Market Hypothesis have always been my own and not current orthodoxy.
A trifle over-written but very moving at the death of this friend Kay Graham and at the death of his wife Susie. Remarkable for the close friendship he enjoys with Bill and Melinda Gates and his partner Charlie Munger.
After this it gets a bit heavier going. There are many insights and many surprises. I had not realised that Berkshire Hathaway lost money from the start and wound up having the textile mill shut down. I had not reliased that Buffett was first a director of Salomon brothers and then became chairman appointed to clean up the mess which he seems to have done with great honour distinction and dignity. I liked the account of the arbitration with the former director Gutfreund who seems to have had it coming. His views on how derivatives spawn risk rather than remove it are very current today. Also his views on the Efficient Market Hypothesis have always been my own and not current orthodoxy.
A trifle over-written but very moving at the death of this friend Kay Graham and at the death of his wife Susie. Remarkable for the close friendship he enjoys with Bill and Melinda Gates and his partner Charlie Munger.
9 of 10 people found the following review helpful
By R. Emmott
Format:Hardcover|Amazon Verified Purchase
Understanding Buffett has become a modern Holy Grail, the pot of gold at the end of a seventy eight year rainbow. How does he do it? How can ordinary people even come close? Having met him first in 2001, Alice Schroeder was first allowed in to the inner sanctum, then granted unfettered access to the man himself "You'll do a better job than I would, Alice. I'm glad you're writing this book, not me". He adds "Whenever my version is different from somebody else's, use the less flattering version".
Five years, 960 pages, 62 chapters, 90 pages of notes, 32 pages of photos, 23 pages of index later, Schroeder has brought us The Snowball, Warren Buffett and the Business of Life. Berkshire Hathaway put on over $50 billion of market capitalisation whilst she was writing it. That's over $50 million for each page. No wonder Buffett was happy to entrust the book to Schroeder. Writing books doesn't usually add value that fast.
Schroeder demonstrates that, after all this detailed research, much from the man himself and other primary sources, there is no silver bullet. This may disappoint critiques of other works on Buffett who seemed to be seeking one and were rather hoping that the official biography would, at last, provide it. Rather, what emerges is a combination of old fashioned focus, discipline, common sense, the ability to get with people, to push them just beyond their comfort zone but keep them onside, to drive hard bargains but still remain popular, to calculate business risks and probabilities with consummate ease, accuracy and success, and to continue to seek great businesses at affordable prices.... Read more ›
Five years, 960 pages, 62 chapters, 90 pages of notes, 32 pages of photos, 23 pages of index later, Schroeder has brought us The Snowball, Warren Buffett and the Business of Life. Berkshire Hathaway put on over $50 billion of market capitalisation whilst she was writing it. That's over $50 million for each page. No wonder Buffett was happy to entrust the book to Schroeder. Writing books doesn't usually add value that fast.
Schroeder demonstrates that, after all this detailed research, much from the man himself and other primary sources, there is no silver bullet. This may disappoint critiques of other works on Buffett who seemed to be seeking one and were rather hoping that the official biography would, at last, provide it. Rather, what emerges is a combination of old fashioned focus, discipline, common sense, the ability to get with people, to push them just beyond their comfort zone but keep them onside, to drive hard bargains but still remain popular, to calculate business risks and probabilities with consummate ease, accuracy and success, and to continue to seek great businesses at affordable prices.... Read more ›
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Most Recent Customer Reviews
5.0 out of 5 stars
really enjoyed
it was a long book. And somehow i came away with the impression that although I admire Warren Buffet I also have the feeling he has good values BUT has somehow lost his values by... Read more
Published 1 day ago by Sara
5.0 out of 5 stars
Snowball.
Good condition.
Very comprehensive.
Factual and no padding.
A large book full of content.
Arrived punctually.
Plenty of tips.
Satisfied customer.
Very comprehensive.
Factual and no padding.
A large book full of content.
Arrived punctually.
Plenty of tips.
Satisfied customer.
Published 1 month ago by Josephine Monks
4.0 out of 5 stars
snowball
my husband has finished reading this book & was impressed, i have not read it all only bits of it, has its merits in light of what is going on in the economy today
Published 1 month ago by Catherine Kiely
5.0 out of 5 stars
One of the most interesting, amusing and informative biographies i...
One of the most interesting, amusing and informative biographies i have read. Real inspiration for any budding entrepreneur or investor.
Published 4 months ago by Mr Andrew McClure Scott
5.0 out of 5 stars
Long... but magnificent.
If you're a fan of either Buffett's performance as a businessman, or of his aphorisms and lessons - or both - you're going to have to get used to one thing: there's a difference... Read more
Published 4 months ago by The Finance Guy UK
4.0 out of 5 stars
Interesting Insight into the life of Buffet
Unlike other books, shows his strengths and weaknesses! Buffet is and will always be a legend! Was great to get a real insight into the Buffet we don't get to see.
Published 5 months ago by Kingsley Onah
5.0 out of 5 stars
epic, humble, insightful...
yes, this book is large. no, it's not as adventurous as "shantaram" (another rather large life story - highly recommended); it details warren buffet's life story. Read more
Published 7 months ago by Gcrikey
5.0 out of 5 stars
brilliantly written biography - a fantastic read
this was the first biography i've read; i usually only read novels and the odd non-fiction book.
the reason i bought this book is i recently became interested in investing,... Read more
the reason i bought this book is i recently became interested in investing,... Read more
Published 10 months ago by HT
4.0 out of 5 stars
Buffets tuffet.
Really big book actually, a little drawn out, but the guy has had a long life. Waffles on in sections, and a lack of clarity but a nice insight into his life, impressed but was... Read more
Published 10 months ago by Jeremyrrsmith
2.0 out of 5 stars
Tedious and much too long
This is a book that needs an editor. The narrative is peppered with superfluous minutiae about his life(such as what steak he eat at a restauraunt, his wife's singing career etc.). Read more
Published 11 months ago by Sue Denham
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