The Essays of Warren Buffett: Lessons for Investors and Managers

One of the best books I've ever read, better than what you'll learn in most college classes. You will be impressed by Buffett's insight into a wide variety of topics.

Excellent book. Graduate course in business and economics. Sophistication blended with common sense.

I enjoyed this book. Warren Buffett stands for something far greater than himself or the wealth he has generated. He is in what he does rather countercyclical, rather old fashioned, and fabulously good. These essays introduce us to Buffett's way of thinking and doing business. There's a lot to learn from both aspects. Some of the book is rather technical, but most is straightforward enough, and I found many places where he made me think. I think our world at many levels- individual, corporate, government would be better if we adopted many of Buffett's ideas. Buffett is an example of thinking from the ultimate to the proximate. He makes decisions for the long term, based on value. He cannot be bothered chasing the ups and downs of the market. It's like trying to stand still on a rolling wave. Prices go up, prices come down, the long investor treats them both the same and focuses way beyond the short term. Buffett is interested in the fundamental value of a business- does it provide worthwhile goods and services? Does it do it well? Is it well led and well managed? Is this likely to continue through time? Can he understand the value that the business offers to its customers and shareholders? If he can then he's likely to invest. In this he's exemplifying the principles of The Three Rules: How Exceptional Companies Think , and revenue before cost. It's not that he doesn't see cost- it's that he puts cost within the context of value, and more especially the context of value over time. He's scathing about short term speculation, complex financial instruments, short term thinking, responding to mood. His comments about buying cheaply are sharp. Something may well be cheap for a reason- and trying to make it better will likely be a losing struggle. If something is unintelligible it's probably concealing a lie, and an untrustworthy person behind it. If a manager is promising that they will make the numbers, sooner or later they will be tempted up the numbers. We live in a short term appearance world and pathologies such as probophilia (as described in Between Health and Illness: Explorations in and around medicine afflict too many institutions. Buffett is an example of a man who knows what he is doing, why he is doing it, and what outcome he wants. He's a straightforward, honest guide to the benefits of thinking long term, and to the benefits of thinking about what value is and where it is to be found. He challenges the modern world with its immediacy, its distractions, its fads, its madnesses of crowds. He takes us back to a much slower paced world, and we'd be better if we learned from him. He teaches us to look for true value and the long term. There's much in this book about good personal and corporate governance, about discernment and about living life well. Readers will learn a lot from Buffett's patterns of thought and action.

This is a must read, great first investing and general business book.

Good reference book for Buffett's thinking topic by topic

Does the job!

Enjoyed the book.

If you read this book irregardless of experience you will learn something. Warrens common sense approach and attitude towards investing really shines through and would give anyone a huge insight into becoming a great investor. However if you've never traded or read any books on the subjects this is not the place to start.

Libro muy recomendable para todos aquellos interesados en la inversión en valor, así como para todos los gestores o empresarios que quieran ampliar su visión de la gestión de empresas.

top notch education for any investor and business executive. Must read for fundamental value style investors.

Very good book at a reasonable price.

well packed, great quality, and thanks for the lovely book mark!