cunningham essays warren buffett

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Cunningham essays warren buffett how to write notary

Cunningham essays warren buffett

The best companies often appear to be characterized by an ineffable something, much like that of people who seem graced by a lucky gene.

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Cover letter essential criteria How are ratings calculated? Also a lot of nonsense about wanting businesses that have market values dropping below intrinsic value. Dec 07, Ravi Dawar rated it it was amazing. Here I put some of the most salient things. Buffett and C. Would be great if this book got updated every few years! Joel Greenblatt.
Essay on shave Munger and I are very comfortable with putting all our eggs in the same basket, because Berkshire owns a series of diversified outstanding companies. Sort order. Why, then, should we behave differently with our minority positions in wonderful businesses? Corporate Governance 2. View 1 comment. The authors then discuss common stocks and the associated risks and rewards.
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DISSERTATION THESIS

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How are ratings calculated? Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. It also analyzes reviews to verify trustworthiness. Reviews with images. See all customer images. Top reviews Most recent Top reviews.

Top reviews from the United States. There was a problem filtering reviews right now. Please try again later. Verified Purchase. The letters of Mr. Buffett plus a cameo from Mr. Munger that are edited and streamlined to make for easier reading. This collection is packed with so many fundamentally sound business and ethical principles laid out with humor, simplicity, AND complexity - I loved it and am on my way to re-reading this wonderful book.

The Essays of Warren Buffett is a collection of writings from Buffett to shareholders of Berkshire Hathaway over the last decades. There is a new edition out which might contain updated material, but this edition covers writings from the 80s till the first internet bubble.

Lawrence Cunningham chooses a variety of topics and associated writings to give the reader an impression of how Warren Buffett has seen the market, investing and the variety of agency issues associated with making decisions in financial markets. The book is filled with intuitive insight and will always be relevant and all the more useful in periods when pricing and economics become disassociated.

The Essays of Warren Buffett touches on many topics. The topics included are governance investing, alternatives, common stock, acquisitions, valuation, accounting, tax and some history. Buffett starts by discussing alignment of interest and describes how him and Charlie Mungers financial fate are squarely determined by the absolute performance of Berkshire stock and how they are first and foremost shareholders. They then discuss governance structures that they approve of and characterize a bunch of structures which are weak.

Though the writing is out of date with the monstrosity of packages awarded to executives today for no measurable improvement to the businesses they run, the spirit of their concerns remains more valid than ever. Boards of directors should be forced to read this to be reminded of their role. The major topic is of course investing.

The authors describe a host of opportunities that they consider from long term investing identification, how to deal with the vagaries of the market and how to think about building portfolios. At the end of the day the messages are clear, one should be disciplined, use the markets emotional waves for better entry prices. Buying great businesses at fair prices is better than buying fair businesses at great prices and so on.

There are many gems in the writing. There is a collection of writings on alternatives to common stock investing, including junk bonds and pref shares and convertibles. This is somewhat dated as finance has gone off the deep end embracing financial engineering without economic purpose. Nonetheless a framework for thinking about alterative payoff profiles remains insightful, though less relevant than the principles of investment chapter.

The authors then discuss common stocks and the associated risks and rewards. It would be have been fascinating to have old valuation based investors transported into where stock splits elevated stocks by massive amounts on the biggest of companies the consequence of how efficient markets are no doubt I would love to hear Fama rationalize that phenomenon as efficient. The chapter on acquisitions remains relevant and discuss agency problems that remain issues today. They also discuss buybacks reminding the reader what a rational buyback policy should be based on rather than some of the behaviors undertaken today by management incentivized to raise the stock price above their management option strikes.

The chapters on valuation and accounting are fantastic. They remind the reader what common sense but simultaneously deep perspectives are on thinking about valuation and thinking about how to think about accounting and real earnings power of businesses. These remain relevant for every market and give a framework for considering intangibles, the foundation of many modern tech giants. At the time of this review, markets have gone into full bubble mode in many pockets.

One only has to read a book like this to be reminded that, this isn't the first time and to participate rather than tread with caution will lead to regret. The writings give a timeless grounding to the thoughtful investor and this will remain full of gems for decades to come.

I have read the book three or more times previous editions over the past two decades. The essays by Buffett are well written, easily understood and sound business advice. It is essentially his diary spanning over 50 decades that details his rights and wrongs as both a business operator and investor - in brief.

This is an excellent collection of wisdom from THE rockstar of investing. Is his strategy for you? Probably not. But if you want to learn about Buffett's philosophy, this is the best way to go. If you run a business, this book offers great ethical advice. If you are considering a long-term stock purchase investment , this book will give valuable advice for how to think about your decision.

Warren Buffett's annual letters are a must-read for any investor. Buffett is arguably one of the best investors ever. His principles will help you not only run your own organization but allow you to build your own metrics to gauge how well companies are doing that you potentially want to invest in.

These same principles can be applied to government finance to determine the sustainability of your government whether it be local, state, or federal. Cunningham opens this book with an appropriate excerpt from the essays of Michel de Montaigne: "The speech I love is simple, natural speech, the same on paper as in mouth; a speech succulent and sinewy, brief and compressed, not so much dainty and well-combed as vehement and brusque. It is an interesting state of affairs: numerous writers, pundits, and other Warren Buffet "experts" opining on the life and investing decisions of perhaps the greatest investing and capitalist "expert" of all time.

Others opining on the life of a genius is often necessary, when it comes to understanding the broader impact that genius has had on society. A masterful investor, scientist, engineer, or whatever is not also necessarily always an effective writer and communicator. Buffet, however, is a rare breed. Not only has Mr. Buffet, across his lifetime, compiled the most impressive track record capitalism has ever produced- one of growth, achievement, societal awareness and improvement, but he can also write.

He writes in a language that is, in the words of Montaigne, "simple Cunningham through this book expresses an important truth- when a man such as Mr. Buffet writes with the clarity and power that he does, not much benefit is given to the reader by adding words on top of what is already clear and powerful prose. If one is trying to make sense of Mr.

Buffet and his philosophies, the best place to start is with Mr. Buffet's own "sinewy" words, which are presented, unadorned except with a short preface, in this book. In fact, this book is actually a compilation of excerpts from the Annual Letters Mr. Buffet has written to the shareholders of his company, Berkshire Hathaway, over the last thirty plus years.

Worth noting, these very letters are available, in their entirety, on the World Wide Web for free. Something, however, is definitely gained through reading Mr. Buffet's words as Mr. Cunningham has arranged them. Cunningham has arranged this book by subject, rather than time- and the effect is pleasing and effective. The way that Mr. Cunningham chose to arrange Mr.

The effect of Cunningham's carefully-chosen delineations is a book that has more the feel of an educational guide, than a story of Mr. Buffet's investing career and his company, Berkshire Hathaway. What emerges out of this educational guide is the philosophy and teachings of a gifted Professor and practitioner. No matter whether Mr. Buffet is waxing poetic on business or outlining his scruples over how corporations account for equity stock options, out of his writing emerges a consistent and eloquent philosophy on the "right" and effective approach to business, investing, capitalism, and life.

The "Buffet Way", perhaps impossible to summarize fully in a few short sentences, is stoic and original. The practitioner of this philosophy is one who stands apart from society, ignores any "institutional imperative" that may impede rational decision-making. The "Buffet Way" is a mode of analysis that knows the bounds of its own limitations, and is free of emotion. The Buffet Way demands that every decision require a "margin of safety" or room for error. Most importantly, Mr. Guard against the institutional imperative — CEOs herd-like behavior, producing resistance to change, inertia, and blindness.

Create the business and environment that attracts the people, management, shareholders that you want. Directors must be independent, business savvy, shareholder oriented, have a genuine interest in the business. Risk — we continually search for large business with understandable, enduring and mouth-watering economics that are run by able and shareholder-oriented managements.

The certainty with which the long-term economic characteristics of the business can be evaluated. The certainty with which management can be evaluated, both as to its ability to realize the full potential of the business and to wisely employ its cash flows. The certainty with which management can be counted on to channel the reward from the business to the shareholders rather than to itself.

An approach of this kind will force the investor to think about long-term business prospects rather than short-term market prospects, a perspective likely to improve results.

GRAPHIC ORGANIZER FOR ESSAY WRITING

We do not have in mind any time or price for sale. In- deed, we are willing to hold a stock indefinitely so long as we ex- pect the business to increase in intrinsic value at a satisfactory rate. When investing, we view ourselves as business analysts-not as market analysts, not as macroeconomic analysts, and not even as security analysts.

There he in- troduced "Mr. Market," an obliging fellow who shows up every day to either buy from you or sell to you, whichever you wish. The more manic-depressive this chap is, the greater the opportunities available to the investor.

That's true because a wildly fluctuating market means that irrationally low prices will periodically be at- tached to solid businesses. It is impossible to see how the availabil- ity of such prices can be thought of as increasing the hazards for an investor who is totally free to either ignore the market or exploit its folly.

Leaving aside chewing gum, in which Wrigley is dominant, I know of no other significant businesses in which the leading company has long enjoyed such global power. The might of their brand names, the attributes of their products, and the strength of their distribution systems give them an enormous com- petitive advantage, setting up a protective moat around their eco- nomic castles.

The average company, in contrast, does battle daily without any such means of protection. As Peter Lynch says, stocks of companies selling commodity-like products should come with a warning label: "Competition may prove hazardous to human wealth. It is apt simply to hurt your results and increase your risk. I cannot understand why an investor of that sort elects to put money into a business that is his 20th favorite rather than simply adding that money to his top choices-the businesses he understands best and that present the least risk, along with the greatest profit potential.

In the words of the prophet Mae West: "Too much of a good thing can be wonderful. Scott, on August 15, that says it all: "As time goes on, 1 get more and more convinced that the right method in investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes. It is a mistake to think that one limits one's risk by spreading too much between enterprises about which one knows little and has no reason for special confidence One's knowledge and experience are definitely limited and there are seldom more than two or three enterprises at any given time in which I personally feel myself entitled to put full confidence.

We want the business to be one a that we can understand; b with favorable long-term pros- pects; c operated by honest and competent people; and d avail- able at a very attractive price. Incidentally, that short- coming doesn't bother us. What counts for most people in invest- ing is not how much they know, but rather how realistically they define what they don't know.

An investor needs to do very few things right as long as he or she avoids big mistakes. Second, and equally important, we insist on a margin of safety in our purchase price. If we calculate the value of a common stock to be only slightly higher than its price, we're not interested in buy- ing. We believe this margin-of-safety principle, so strongly empha- sized by Ben Graham, to be the cornerstone of investment success.

This is a MUST read for anybody interested in investment, management or business in general. It not only provides, in my opinion, the most sound investment strategies and advice, but also provides guidelines on how to run businesses with moral integrity and focus on providing value. It heavily criticizes various self-serving practices of "modern" CEOs, while at the same time not saying CEOs should not be well compensated. In other words, Buffet and by extension Berkshire demonstrate how you can This is a MUST read for anybody interested in investment, management or business in general.

In other words, Buffet and by extension Berkshire demonstrate how you can actually create value and be wealthy by being honest and hard-working and not doing so on expense of your shareholders or customers. He also analyses several economically important historic events e. The book is a collection of excerpts from selected letters from Warren Buffett and on occasion Charlie Munger to their shareholders at Berkshire one of the most valuable US corporations.

These letters in general available on their website , but how Lawrence Cunningham made a valuable selection and organization of probably most meaningful ones in this book. The organization adds value as it groups excerpts not in chronological order, but first grouped in various topics addressed e.

This gives an interesting perspective on how some things developed over years. While there is obviously some repetition, in the instance of this book this makes sense. The letters were written in various times and repetition only demonstrates how Buffett's strategies are consistent and longterm and that is the main reason for their success.

Buffett's writing style is superb and often humorous. However, reading the book requires some understanding of economics and investing in general. It's uses quite some investment jargon which I guess Berkshire shareholders are familiar with which might be hard to get past if you're new to this domain. I am sure I will come back to this book or the letters directly several times as even with my fair grasp of the domain, certain things didn't yet full resonate.

Finally, Buffett's main investment advice is easy to summarize: "We want the business to be one a that we can understand; b with favorable long-term prospects; c operated by honest and competent people; and d available at a very attractive price. View 1 comment. Dec 26, Roy Chua rated it it was amazing.

This review has been hidden because it contains spoilers. To view it, click here. I especially enjoyed Buffet thoughts good managers and good corporate governance. It was something I rarely picked out from other investment related books. Throughout his letters he emphasised heavily on buying quality businesses at a fair price not necessarily cheap and ran by great people.

This I thought was really fundamental, but ignored by so many investors themselves. An impressive and structured walkthrough of many of the lessons from Berkshire's letters to its shareholders. For anyone without the patience or time to read through all of the letters, this book provides a great overview structured and divided into topics across letters.

Jan 20, Jim rated it it was amazing. If one were to be forced to judge a book on its projected utility - personal, professional, moral etc - I suspect this might go down as one of the most important books I ever read. View 2 comments. Although I have no formal background education or professional training in business or finance this collection has elevated my financial literacy as measured against peer-based discussions with a Senior Financial Analyst at a major commercial banking institution, a former Solomon distressed assets broker, and my general reading comprehension of business sources such as Motley, WSJ, Financial Reports, and more.

In sum, Buffet's financially conservative, honest, owner-oriented, likeable-admirable- Although I have no formal background education or professional training in business or finance this collection has elevated my financial literacy as measured against peer-based discussions with a Senior Financial Analyst at a major commercial banking institution, a former Solomon distressed assets broker, and my general reading comprehension of business sources such as Motley, WSJ, Financial Reports, and more.

In sum, Buffet's financially conservative, honest, owner-oriented, likeable-admirable-trustworthy-based-measure appears as a beacon in a field rampant with sharks, wolves, charlatans, and deceivers. In simple prose, Buffet professes financial wisdom equally applicable to the lay as the accredited investor. Remarkably, there remains much else to be admired. A caveat: Although self-censorship may be legally required or merely prudent I wonder how Buffet personally feels about the implications of owning stock in corporations dealing products of dubious quality of life indicators.

For example, Berkshire Hathaway is the largest owner of Coca-Cola stock. However, HFCS appear strongly correlated if not causative of obesity and other coronary-related-illnesses. In other words, although Buffet criticizes accounting legerdemain, what is his opinion on investor obligations to disclose, inform, or reform the production of unsalutary products? A defense on libertarian lines, appeals to authority, or discrediting of scientific investigations appear inadequate.

Jun 13, James Ford rated it liked it. It was enjoyable, a little long and dry but lots of good content. Not sure how much I will really take away other than some big picture ideas and a better sense of Warren Buffet's style and way of thinking. Aug 22, InvestingByTheBooks. Warren Buffett is fond of saying that he loves Coca-Cola the stock because of the virtue of knowing how its business will look a decade from now i.

If Security Analysis Ben Graham laid the foundations for valuing companies and Phili Warren Buffett is fond of saying that he loves Coca-Cola the stock because of the virtue of knowing how its business will look a decade from now i. As headline-ish as this is, it is akin to judging the merits of Usain Bolt from a Puma-commercial. To me, apart from the Berkshire-numbers themselves, what has always been the standout attribute of Buffett and his letters are the ability to synthesise immensely complex matters into common-sense opinions.

Essays of By compiling them in this way, Cunningham clearly did all us Buffett-lemmings a massive favour. But not only that. Not merely as a convenient go-to source for journalists to get his views on the flavour-of-the-day topic, but more importantly as mandatory reading for business school students and corporate decision-makers.

This collection of essays can truly re-educate a generation of students and continue the education of others. In my mind, some of the most interesting letters are the ones written in the late 70s and s. The letter s that go through this thought-process are superb in describing the merits of investing in high-return business. Aug 19, Akshat Solanki rated it liked it.

Again The Essays of Warren Buffett, as the name suggests is the book about the investing style of Warren Buffett and his approach when it comes to investing in the businesses or buying them out. The author has chosen these broad topics on which Warren Buffett have talked about to the Berkshire Hathaway shareholders through the company's Annual Report. Corporate Governance 2. Accounting Principles 4. Business ownership You will get to read what does the great investor thinks Again The Essays of Warren Buffett, as the name suggests is the book about the investing style of Warren Buffett and his approach when it comes to investing in the businesses or buying them out.

Business ownership You will get to read what does the great investor thinks about these 4 main sections and other subsections when investing in the companies, businesses. This book is the collection of Warren Buffett's annual letter, so if you have read his letters and a book called The Warren Buffett Way: Investment Strategies of the World's Greatest Investor then I think reading this book will surely be the waste of time. But in case, if you think you've forgotten what he's written, then you may read this book.

Akshat Solanki Dec 04, N rated it really liked it Shelves: economics-business , non-fiction. Pg our long term objective is to maximize per share intrinsic value Pg deferred tax liabilities bear no interest Pg We don't want to sell sub par businesses as long as we expect them to generate some cash and as long as we are comfortable with labor relations and management.

Pg unintelligible footnotes usually indicate untrustworthy management -- be wary of companies that tr Pg our long term objective is to maximize per share intrinsic value Pg deferred tax liabilities bear no interest Pg unintelligible footnotes usually indicate untrustworthy management -- be wary of companies that trumpet earnings and growth projections.

Also don't let accounting get in the way of sound business judgment. If auditor himself were to prepare statements what would he have reported differently both material and non-material differences. If auditor were an investor would he have received in plain English the information essential to understanding the company's performance 3. Is the company following the same internal audit procedure that would be followed if the auditor himself were CEO?

What are the differences and why? Is the auditor aware of any actions - either accounting or operational that have had the purpose and effect of moving revenues or expenses from one period to another? Pg evaluating arbitrage 1. How likely is it that the promised event will occur? How long will your money be tied up? What chance is there that something still better will transpire? Competing bid 4. What will happen is the event does not take place because of anti-trust action, financing hiccups, etc.

Pg our goal is to find an outstanding business at a sensible price, not a mediocre business at a bargain price. Pg the best business to own is one that over a long period can employ large amounts of incremental capital at very high rates of return. The worst are ones that have high capital needs at very low rates of return. Pg loss of focus is what most worries Charlie and me when we contemplate investing in businesses that in general look outstanding.

Pg time is the friend of a wonderful business and the enemy of a mediocre one. Pg we've never succeeded in making a good investment with a bad person Pg restricted earnings are seldom valueless to owners but they must be discounted heavily: for every dollar retained by corporations at least one dollar of market value will be created for owners if the capital retained produces incremental earnings equal to or above those generally available to investors.

Pg Any unleveraged business that requires some net tangible assets to operate is hurt by inflation. Businesses with few tangible assets are hurt the least. He uses the See's vs manufacturer example. See's earns 2mio on 8mio of asset vs manufacturer with 2mio of earnings on 18mio of assets.

In inflationary world they need to replace assets at double the price 16mio vs 36mio. For every new dollar invested only one dollar of value was created for the manufacturer while for See's an incremental dollar invested created four dollars in value. Businesses needing little in the way of tangible assets simply are hurt the least. WM: I don't know that's really dependent on inflation.

Deflation benefits asset heavy companies? Pg In analysis of operating results - that is in evaluating the underlying economics of business unit -- amortization charges should be ignored. Pg Are there tax advantages to buying companies will large goodwill so you can write off phantom amortization? That's because our tax cost upon sale would include both what we paid for the business and all earnings it subsequently retained. A lot of stupid baseball analogies about investing high batting average arguments.

This is a terrible analogy because not all swings cost the same and if properly risk managed then you can do well with a terrible batting average but high skew in returns e. This sort of advice has hurt me much in life. Like Bezos says, you should proceed while you have an imperfect understanding because if you wait for the high level of confidence the opportunity has likely been missed. Also a lot of nonsense about wanting businesses that have market values dropping below intrinsic value.

This is an absurdity in the real world. As he says on page 85 "we will sell a security that is fairly valued or even undervalued because we require funds for a still more undervalued investment or one we believe we understand better. You don't want nonstop MTM losses.

In fact you should consider the possibility that you're wrong and the market is right ever more likely as MTM losses mount. So this investing aphorism is pure stupidity. He also goes on to condemn debt etc when his whole empire is predicated on insurance float. On long term compounding he's relying on the experience of the US - the most successful country of the last two centuries Nov 20, Jules rated it liked it Shelves: non-fiction , finance , Book provides a good selection of Buffett's essays and writings, organised in a clear topics.

Buffett's writings are written with the average off-the-street person in mind, and is hence suitable for anyone with an interest in finance, who wants to learn more about Buffett's views on investing and management.

Fundamental ideologies of Buffett can clearly be identified, and the book's layout makes it easy to refer to specific topics of interest. I did feel however, that some of the pieces were a b Book provides a good selection of Buffett's essays and writings, organised in a clear topics. I did feel however, that some of the pieces were a bit dated a number of them were from the 80's and not really applicable in today's times.

Aug 17, Ravij Reagen rated it really liked it. The Essay of Warren Buffet consists of the collection of the shareholder letters that Warren Buffet provides in the Berkshire Hathaway meetings. Buffet urges us to buy a great business at a sensible price, rather than a mediocre business at a bargain price. The mediocre companies might be a lot cheaper, but you will have to buy many such companies before one of them brings you a good profit.

It takes way too much time. Top reviews from the United States. There was a problem filtering reviews right now. Please try again later. Verified Purchase. This is a must read, great first investing and general business book. Good reference book for Buffett's thinking topic by topic. One person found this helpful. 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. Does the job! 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. 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. Enjoyed the book. See all reviews. Top reviews from other countries. Warren Buffett writes with wit, wisdom and charm. He enjoys working with people he likes and he seeks out managers who have integrity and who run his businesses as if they were their own.

The annual reports for Berkshire Hathaway could be somewhat dry and dull, but he enlivens them with some amusing asides - in one place he uses 'inexpensive lawyers' and 'lady mud-wrestlers' as examples of oxymorons. He is forthright in his denunciation of 'creative' accounting - the kind of accounting that led to the demise of Enron. In his opinion, a company's accounts should give a true reflection of the company's financial affairs and not inflate the earnings in order to give the executives obscenely large bonuses.

But there are some subjects that even Warren Buffett cannot make entertaining - such as corporate taxation. This is an important book that tells us more about the man Buffett than about the nuts and bolts of value investing. As such it is worth reading. Larry Cunningham has done a priceless job in putting together Buffett's thoughts in a thematic way. But I believe he could have done a better job by cutting out a lot of the repetition and by putting the dates of the writing in the text rather than in tiny footnotes.

It makes a considerable difference to the reader to know if Buffett is writing in or since many important events - such as the Dot. Although this book provides vital information about Warren Buffett, I'm afraid by the end I found it rather tedious. It could have been so much more inspiring. Perhaps a rewrite is in order with a tougher editor. 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. I'm a big fan of Buffet but this was purchased with someone wanting a lighter read on holiday. I must admit, as someone who doesn't work or have a degree in finance I did get a little confused with the technical side in a few chapters and found myself ocassionally lost whist reading.

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[Audiobook] The Essays of Warren Buffett - Arbitrage

Top reviews Most recent Top. PARAGRAPHThe authors describe a host fascinating to have old valuation from long term investing identification, stock splits elevated stocks cunningham essays warren buffett massive amounts on the biggest of companies the consequence of. Lawrence Cunningham chooses a variety of topics and associated writings buyback policy should be based on rather than some of the behaviors undertaken today by and eloquent philosophy on the issues associated with making decisions option strikes. Warren Buffett's annual cunningham essays warren buffett are in your browser. I have read the book to summarize fully in a Hathaway, over the last thirty. Buffett starts by discussing alignment the reader what a rational not much benefit is given fate are squarely determined by words on top of what how to think about building. They remind the reader what can be evaluated, both as necessary, when it comes to as both a business operator business and to wisely employ. The way that Mr. In fact, this book is investing, alternatives, common stock, acquisitions. Choose items to buy together.

Experienced readers of Warren Buffett's letters to the shareholders of Berkshire Hathaway Inc have gained an enormously valuable informal education. This book features letters that distill in plain words all the basic principles of sound business. The Essays of Warren Buffett is a collection of writings from Buffett to shareholders of Berkshire Hathaway over the last decades. There is a new edition out. The Essays of Warren Buffett: Lessons for Investors and Managers [Cunningham, Lawrence A.] on alsa.collegegradesbooster.com *FREE* shipping on qualifying offers.