Book Description
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!
From Publishers Weekly
Starting with $10,000 in 1956 and today worth some $8.5 billion,
with significant holdings in Coca-Cola, Capital Cities ABC and the
Washington Post Company, Omaha, Nebr.-based Buffet is a major
player on Wall Street. Financial consultant Hagstrom, who did not
interview his subject but obtained permission to quote from his
Berkshire Hathaway annual reports, here outlines Buffet''s
iconoclastic tenets for investing. Unlike many entrepreneurs who
take over companies to sell them off in bits, Buffet buys and
holds. He rejects the "efficient market theory"; he doesn''t worry
about the stock market; and he buys a business, not a stock. He
manages with a small staff, no computers and a "hands off"
strategy. Learning his secrets here, now the rest of us can do a
Buffet? Illustrations. Fortune Book Club dual main selection.
From Library Journal
Hagstrom, a principal in a Philadelphia investment firm, describes
the investment strategies and techniques used by Warren Buffett to
realize enormous success as a professional investor. Aiming his
analysis at the individual investor, Hagstrom reviews the influence
of Buffett''s mentors, Ben Graham and Philip Fisher, and illustrates
Buffett''s synthesis of their investment philosophies. Hagstrom
provides case studies of Buffett''s major investments, showing the
qualities of the companies that had appeal. Buffett''s investment
philosophy espouses long-term investing, respect for good
management, and recognition of the value of a business franchise.
This insightful work is a worthwhile complement to Graham''s classic
writings, considered essential for new investors.
Joseph Barth, U.S. Military Acad. Lib.,
West Point, N.Y.
From Booklist
Warren Buffett was identified as the richest person in America by
Forbes last year. Of the more than 70 individuals or families worth
more than $1 billion on Forbes list, only Buffett acquired his
wealth through investing. Hagstrom, a principal at a Philadelphia
investment firm, has tracked the success of Buffett for more than
10 years and argues that the same strategies that Buffett uses in
selecting acquisitions can be used by individuals in selecting
stocks. Buffett''s firm, Berkshire Hathaway, has one of the most
widely read annual reports issued, with Buffett himself personally
contributing advice, humor, and insight. Hagstrom had Buffett''s
approval in including extensive quotes from these reports, but
Buffett cooperated in no other way with this book. Hagstrom
examines the influence of Benjamin Graham and his classic The
Intelligent Investor on Buffett and details what Buffett looks for
in his investments. Recommended for libraries with popular
investment collections.
David Rouse
From AudioFile
The investment legend''s personal story and investment methods make
for a surprisingly captivating audio. Though Stefan Rudnicki''s
pacing is too slow, crisp writing and a fast-moving story line make
this condensed production of Hagstrom''s 1994 book captivating
listening. The author is the preeminent Buffett expert, and it
shows. Though the abridgment sacrifices some of the folksy texture
and cultural context of Buffett''s life, the strategies connected
with Buffett''s success are spelled out with elegant clarity--not
just the business formulas, but the personal biases and management
philosophies, as well. An essential investment audio, and a nice
resource for all equity investors. T.W.
From the Inside Flap
A decade has passed since the book that introduced Warren Buffett
to the world–The Warren Buffett Way by Robert Hagstrom–first
appeared. Since then, Buffett has solidified his reputation as the
greatest investor of all time–quietly 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 else’s competence, some people still do not
understand how this value investing legend can consistently perform
so well. That’s 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 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.
Rather than presenting Buffett’s strategies by stock
purchases–as he did in the first edition–Hagstrom makes "Buffett’s
Way" more accessible to you, the individual investor, by presenting
Buffett’s basic tenets of investing and illuminating these
principles with relevant and up-to-date examples from Buffett’s
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 world’s 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 Buffett’s investing approach
* Examines Buffett’s 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
people’s 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, Buffett’s 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 you–whether you’re a seasoned investor or just
getting started–understand and employ the investment strategies
that have made Buffett so successful for over five decades.
Book Dimension
length: cm19.7 width:cm12.8
關於作者：
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.
目錄：
Foreword to the Second Edition Bill Miller. Foreword to the
First Edition Peter S. Lynch. Preface. Introduction Kenneth L.
Fisher. 1. The World''s Greatest Investor. 2. The Education of
Warren Buffett. 3. "Our Main Business Is Insurance": Early Days of
Berkshire Hathaway. 4. Buying a Business. 5. Investing Guidelines:
Business Tenets. 6. Investing Guidelines: Management Tenets. 7.
Investing Guidelines: Financial Tenets. 8. Investing Guidelines:
Value Tenets. 9. Investing in Fixed-Income Securities. 10. Managing
Your Portfolio. 11. The Psychology of Money. 12. The Unreasonable
Man. Afterword: Managing Money the Warren Buffett Way. Appendix.
Notes. Acknowledgments. Index.
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