Buffett, the Bard of Omaha, is a genuine American folk hero, if folk heroes are allowed to build fortunes worth upward of $15 billion. He’s great at homespun metaphor, but behind those catchy phrases is a reservoir of financial acumen that’s generally considered the best of his generation. For example, in an essay on CEO stock options, he writes, “Negotiating with one’s self seldom produces a barroom brawl.” This is his way of saying that an executive who can give himself compensation totally disproportionate to his performance surely will. There are uncountable gems of financial wisdom to be harvested from these essays, taken from the annual reports he writes for Berkshire Hathaway, his holding company. Just to pick one more, here’s a now-famous line about those he competes with when making stock-market investments: “What could be more advantageous in an intellectual contest–whether it be chess, bridge, or stock selection–than to have opponents who have been taught that thinking is a waste of energy?”
He likes to keep his cards close to his vest, and he likes to discuss the principles behind his investments, even though he has a policy of seldom commenting on stocks he owns. Ben Graham was under whom Buffett studied at Columbia University and worked in the 1950s. If you’re a smart investor, the first will always be less than the second, because price is what you pay and value is what you get. The value of the lessons learned from the man. Essays. It could be more than the book’s price. Lou Schuler is a person. The text refers to an alternate edition.
“A classic of value investing.” — The Financial Times, June 23, 2000
<br ><br >”Extraordinary–full of wisdom, humor and common sense. By far the best window into the way Buffett’s mind works.” — Money, July 1998
“Recommended as excellent reading. Two thumbs up.” — CNN-fn, June & December 1998
Quoting Warren Buffett: “Larry Cunningham has done a great job at collating our philosophy. If I were to choose one book to read, this would be the one.” — Outstanding Investor Digest, January-February 1999 –This text refers to an alternate kindle_edition edition.
From the Author
“I originally prepared this collection as the centerpiece of a symposium featuring Warren Buffett’s letters. Warren, Charlie Munger, Bob Denham, and hundreds of others participated in dissecting all the ideas. This arrangement, organized by subject matter, contains a more valuable set of lessons than can be found at just about any school, library, business, or other place of learning. Anyone even remotely interested in business or finance or corporate life should read and study this collection and have a copy available for handy reference.” –This text refers to an alternate kindle_edition edition.
From the Publisher
The book has garnered substantial critical acclaim from broad cross sections of readers; is being translated into a dozen other languages; and has been designated as a top investment/business book by reviewers ranging from CNN to JP Morgan to the Motley Fool (number 2 investment book of all time!). –This text refers to an alternate kindle_edition edition.
From the Back Cover
See also Cunningham’s instant classic, Berkshire Beyond Buffett: The Enduring Value of Values . –This text refers to an alternate kindle_edition edition.
About the Author
Cunningham is a leading authority on Berkshire, Buffett, and corporate governance. He is a widely published author, popular lecturer, and professor at George Washington University. –This text refers to an alternate kindle_edition edition.
From the Inside Flap
- Buffett is a businessman and investor whose writings, as collated in The Essays of Warren Buffett , define a coherent philosophy of business and investing.
- Cunningham is a writer and professor whose other books include Berkshire Beyond Buffett: The Enduring Value of Values
–This text refers to an alternate kindle_edition edition.