The definitive work concerning Warren Buffett and intelligent investment philosophy, this is a collection of Buffett's letters to the shareholders of Berkshire Hathaway written over the past few decades that together furnish an enormously valuable informal education. The letters distill in plain words all the basic principles of sound business practices. They are arranged and introduced by a leading apostle of the 'value' school and noted scholar, Lawrence Cunningham. What's new in the second edition? This new edition has extensive additional content that highlights topics of vital national or international significance, including: - the proliferation of stock option compensation and excessive CEO pay; - Berkshire s shareholder-designated contribution program and the controversy over the abortion issue that led to its termination; - the explosion of derivative financial instruments and related perils and how Berkshire dealt with managing a sizable portfolio of them after buying Gen Re; - the dramatic increase in foreign currency trading in the past five years along with the astonishing growth in the US trade deficit; - management succession at Berkshire Hathaway as Mr. Buffett ages; - commentary on his philanthropic thinking in giving his entire fortune to charities; and - the fairness and other matters concerning taxation of corporations. Here in one place are the priceless pearls of business and investment wisdom, woven into a delightful narrative on the major topics concerning both managers and investors. These timeless lessons are useful to members of a wide range of professions, including law, accounting, finance and management, and provide rich teaching materials for courses in those fields.
Customer Reviews:
Avg. Customer Rating: 5.0 / 5.0
Not a fan of Buffett but a great compilation of his "wisdom":
Though I'm not a fan of Buffett, and I usually feel that his "wisdom" goes unchallenged in the media, in business circles and in academia because of his stature as an investor, this compilation is a great way to get a distilled collage of his annual report dissertations about many interesting subjects.
Of course one could just go to the website and read the reports, but the selection and organization makes it worth the price. It is very interesting to read some analysis of market turmoil times and... more info
Hope for improved re-arrangement:
This collection of essays did a great service for understanding Buffett's investment phylosophy. As we get familiar with Buffett's approach, however, we would expect an improved re-arrangement of his ideas in a more logical fashion. Of course, this book is still much better than those with simply quotations or simple categorization.
The Best from Buffett -- Yet Sadly Overlooked:
This book, a collection of Buffett's annual reports, provides a cheap and pleasant education about corporate finance and investing. These essays show the talent behind Buffett's success. In a recent 48 Hours interview, Buffett said that of all the many books out there about him, it was this one that best described how he thinks. He was right. Like Winston Churchill, Abraham Lincoln, and many other significant figures, Buffett writes better than the many people who write about him.
The three Warren Buffett book package:
Great Books, the man is a financial wizzard! I am learning much. The CEO's of fallen businesses should read this to see just how they went wrong. Other CEO's should read these books as well to keep from failing. The government should read the books to avoid idiotic gifts to poorly run companies.
