Synopses & Reviews
A decade has passed since the book that introduced Warren Buffett to the worldThe Warren Buffett Way by Robert Hagstromfirst appeared. Since then, Buffett has solidified his reputation as the greatest investor of all timequietly amassing a multibillion-dollar fortune, despite the wild fluctuation of the markets.
Although Buffett has claimed time and again that what he does is not beyond anybody elses competence, some people still do not understand how this value investing legend can consistently perform so well. Thats where Robert Hagstrom and the Second Edition of The Warren Buffett Way come in. This completely revised and updated look at the Oracle of Omaha encompasses Buffetts numerous investments and accomplishments over the past ten years, as well as the timeless and highly successful investment strategies and techniques he has always used to come out a market winner.
Rather than presenting Buffetts strategies by stock purchasesas he did in the first editionHagstrom makes "Buffetts Way" more accessible to you, the individual investor, by presenting Buffetts basic tenets of investing and illuminating these principles with relevant and up-to-date examples from Buffetts investments, including common stocks, private companies, and high-yield bonds.
Standing far above the market madness, this timely guide distills the wisdom and insight of the worlds greatest investor. It skillfully . . .
- Presents a brief history of Buffett from boyhood to Berkshire Hathaway, and reveals the individuals and events that shaped his investing philosophy
- Outlines the business, management, finance, and value tenets that make up the core of Buffetts investing approach
- Examines Buffetts ongoing process of managing a portfolio from knowing which stocks to hold, and for how long, to deciding if, when, and how to cash out some investments and move into others
- Discusses the psychology of money and how Buffett uses this concept to avoid common investment mistakes and recognize other peoples mistakes in time to profit from them
Change is constant, but the investment principles outlined in this book have remained the same. In an environment that seems to favor the speculator over the investor, Buffetts investment advice has proven, time and again, to be a safe harbor for millions of lost investors. No one understands Warren Buffett like Robert Hagstrom, and in the Second Edition of The Warren Buffett Way, Hagstrom will help youwhether youre a seasoned investor or just getting startedunderstand and employ the investment strategies that have made Buffett so successful for over five decades.
PRAISE FOR THE WARREN BUFFETT WAY
"Nobody has described what Buffett practices better than Hagstrom."
"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."
"Its 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."
"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 Warren Buffett Way is accessible to average readers because Mr. Hagstrom reduces the billionaires techniques to some easily understandable tenets . . . the book demonstrates the rewards that can come down the road."
The Dallas Morning News
Buffett is back . . . and better than before!
A decade has passed since the book that introduced the world to Warren Buffett -- The Warren Buffett Way by Robert Hagstrom -- first appeared. That groundbreaking book spent 21 weeks on the New York Times Hardcover Nonfiction Bestseller list and sold over 1 million copies.
Since then, Warren Buffett has solidified his reputation as the greatest investor of all time -- becoming even richer and more successful, despite the wild fluctuation of the markets. How does this value investing legend continue to do it? That's where Robert Hagstrom and the Second Edition of The Warren Buffet Way come in. This edition is a completely revised and updated look at the Oracle of Omaha -- comprising Buffett's numerous investments and accomplishments over the past ten years, as well as the timeless and highly successful investment strategies and techniques he has always used to come out a market winner. This edition is especially accessible as Buffett's basic tenets of investing are presented and illuminated with relevant and up to date examples.
Order your copy today!
About the Author
ROBERT G. HAGSTROM is Senior Vice President of Legg Mason Capital Management and the portfolio manager of the Legg Mason Growth Trust. He is a member of the CFA Institute and the Financial Analysts of Philadelphia. The Warren Buffett Way sold more than 1,000,000 copies worldwide and spent twenty-one weeks on the New York Times bestseller list. Robert lives with his family in Villanova, Pennsylvania.
Table of Contents
Foreword to the Second Edition viiBill Miller
Foreword to the First Edition ix
Peter S. Lynch
Kenneth L. Fisher
1 The World’s Greatest Investor 1
2 The Education of Warren Buffett 11
3 "Our Main Business Is Insurance": The Early Days of Berkshire Hathaway 29
4 Buying a Business 41
5 Investing Guidelines: Business Tenets 61
6 Investing Guidelines: Management Tenets 81
7 Investing Guidelines: Financial Tenets 109
8 Investing Guidelines: Value Tenets 121
9 Investing in Fixed-Income Securities 141
10 Managing Your Portfolio 157
11 The Psychology of Money 177
12 The Unreasonable Man 189
Afterword: Managing Money the Warren Buffett Way 199