The Warren Buffett Way: The World’s Greatest Investor

The Warren Buffett Way: The World’s Greatest Investor Book Pdf Free Download

Excerpt From The Book

Berkshire Hathaway, Inc., is complex but not complicated. It owns (at the moment) just shy of 100 separate businesses the insurance companies described in the previous chapter,

and a wide variety of noninsurance businesses acquired through the income stream from the insurance operation. Using that same cash stream, it also purchases bonds and stocks of publicly traded companies.

Running through it all is Warren Buffett’s down-to-earth way of looking at a business: whether it’s one he’s considering buying in its entirety or one he’s evaluating for stock purchase.

There is no fundamental difference, Buffett believes, between the two. Bóth makes him an owner of the business, and therefore both decisions should, in his view, spring from this owner’s point of view.

This is the single most important thing to understand about Buffett’s investment approach: Buying stocks means buying a business and requires the same discipline.

In fact, it has always been Buffett’s preference to directly own a company, for it permits him to influence what he considers the most critical issue in a business: capital allocation.

But when stocks represent a better value, his choice is to own a portion of a company by purchasing its common stock.

In either case, Buffett follows the same strategy He looks for companies he understands, with consistent earnings history and favorable long-term prospects,

showing a good return on equity with little debt, that are operated by honest and competent people, and, importantly.

Because he operates from this owner’s perspective, wherein buying stock is the same as buying companies, it is also true that buying companies is the same as buying stock.

The same principles apply in both cases, and therefore both hold important lessons for us.


“The Warren Buffett Way outlines his career and presents examples of how his investment techniques and methods evolved and the important individuals in the process. It also details the key investment decisions that produced his unmatched record of performance. Finally, the book contains the thinking and the philosophy of an investor that consistently made money using the tools available to every citizen no matter what their level of wealth.”

Peter S. Lynch bestselling author, One Up On Wall Street and Beating the Street

“Robert Hagstrom presents an in-depth examination of Warren Buffett’s strategies, and the ‘how and why’ behind his selection of each of the major se curities that have contributed to his remarkable record of success. His ‘home spun’ wisdom and philosophy are also part of this comprehensive, interesting, and readable book.”

John C. Bogle Chairman, The Vanguard Group
WriterRobert G Hagstrom
LanguageEnglish
Pages268
Pdf Size1.75 MB
CategoryBusiness

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The Warren Buffett Way: The World’s Greatest Investor Book Pdf Free Download

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