Buffett Beyond Value: Why Warren Buffett Looks to Growth and Management When Investing

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Overview

While Warren Buffett’s investment ideas are simple tounderstand, his success can be difficult to duplicate—unlessyou become familiar with how he really goes about the process ofinvesting.

In this engaging new book, author Prem C. Jain extracts WarrenBuffett’s investment wisdom from Berkshire Hathaway annualreports, Buffett’s letters to shareholders and partners inhis partnership firms, and as many of Buffett’s otherwritings as he could find—thousands of pages written over ...

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Overview

While Warren Buffett’s investment ideas are simple tounderstand, his success can be difficult to duplicate—unlessyou become familiar with how he really goes about the process ofinvesting.

In this engaging new book, author Prem C. Jain extracts WarrenBuffett’s investment wisdom from Berkshire Hathaway annualreports, Buffett’s letters to shareholders and partners inhis partnership firms, and as many of Buffett’s otherwritings as he could find—thousands of pages written over thepast fifty years. Through this effort, Jain uncovers the keyelements of Buffett’s approach and offers an accessible wayto apply it to your own investment endeavors.

With Buffett Beyond Value, you’ll quickly learnthat, contrary to popular belief, Warren Buffett is not a purevalue investor, but a unique thinker who combines the principles ofboth value and growth investing strategies. You’ll alsodiscover why Buffett emphasizes the importance of high-qualitymanagement above many other metrics when evaluating a companyhe’s interested in.

Written for anyone serious about stock market investing, thisunique guide skillfully outlines the proven principles Buffett hasfollowed over the course of his long and successful career andshows you what it takes to make them work for you. Topicsinclude:

  • How to build a diverse and profitable portfolio the WarrenBuffett way
  • Why you need an appropriate psychological temperament to be asuccessful investor
  • Buffett’s thoughts on market efficiency and the ways inwhich you can incorporate them into your investment decisionmaking
  • How issues related to profitability and accounting can provideyou with a perspective that is uncommon in investing circles
  • Why Buffett thinks differently from others about portfoliodiversification, corporate governance, and much more

If there’s one person worth listening to when it comes toinvesting—whether you’re an individual investor, astudent, an academic, or a professional portfoliomanager—it’s Warren Buffett. And with Buffett BeyondValue as your guide, you’ll gain valuable insights thatcould enhance your understanding of investing and improve yourability to make more profitable decisions in today’smarkets.

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Product Details

  • ISBN-13: 9780470467152
  • Publisher: Wiley
  • Publication date: 3/29/2010
  • Edition number: 1
  • Pages: 304
  • Sales rank: 952,098
  • Product dimensions: 6.20 (w) x 9.10 (h) x 1.20 (d)

Meet the Author

PREM C. JAIN is the McDonough Professor of Accounting and Finance at the McDonough School of Business, Georgetown University, in Washington, D.C. He has previously taught at the Wharton School of the University of Pennsylvania and the Freeman School of Business at Tulane University. His research has been published in many prestigious finance and accounting journals including the Journal of Finance and the Journal of Accounting Research. Jain received a doctorate from the University of Florida and a master’s degree in applied economics from the University of Rochester. He is also a CPA in the state of Florida.

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Table of Contents

Preface.

Acknowledgments.

Part One Introduction and Background.

Chapter 1 The Thrill of Investing in Common Stocks.

Chapter 2 1965–2009: Lessons from Significant Events inBerkshire History.

Part Two Buffett Investing = Value + Growth.

Chapter 3 Value Investing—It's Like Buying Christmas Cardsin January.

Chapter 4 Growth Investing.

Chapter 5 Intrinsic Value.

Chapter 6 Buffett Investing = Value + Growth.

Part Three Other People’s Money.

Chapter 7 Insurance—Other People’s Money.

Chapter 8 Reinsurance: More of Other People’s Money.

Chapter 9 Tax Deferment: Interest-Free Loans from theGovernment.

Part Four Success in Retailing, Manufacturing, andUtilities.

Chapter 10 If You Don’t Know Jewelry, Know YourJeweler.

Chapter 11 Compete Like Mrs. B.

Chapter 12 Why Invest in Utility Companies?

Chapter 13 High Profits in Honest-to-Goodness ManufacturingCompanies.

Part Five Risk, Diversification, and When toSell.

Chapter 14 Risk and Volatility: How to Think Profitably AboutThem.

Chapter 15 Why Hold Cash: Liquidity Brings Opportunities.

Chapter 16 Diversification: How Many Baskets Should YouHold?

Chapter 17 When to Sell.

Part Six Market Efficiency.

Chapter 18 How Efficient Is the Stock Market?

Chapter 19 Arbitrage and Hedge Funds.

Part Seven Profitability and Accounting.

Chapter 20 M = Monopoly = Money.

Chapter 21 Who Wins in Highly Competitive Industries?

Chapter 22 Property, Plant and Equipment: Good or Bad?

Chapter 23 Key to Success: ROE and Other Ratios.

Chapter 24 Accounting Goodwill: Is It Any Good?

Part Eight Psychology.

Chapter 25 How Much Psychology Should You Know?

Chapter 26 How to Learn from Mistakes.

Part Nine Corporate Governance.

Chapter 27 Dividends: Do They Make Sense in This Day andAge?

Chapter 28 Should You Invest in Companies That Repurchase TheirOwn Shares?

Chapter 29 Corporate Governance: Employees, Directors, andCEOs.

Chapter 30 Large Shareholders: They Are Your Friends.

Conclusion B = Baseball = Buffett.

Appendix A Summary of the Book.

Notes.

About the Author.

Index.

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Sort by: Showing all of 3 Customer Reviews
  • Posted March 23, 2010

    Buffett is both a Value & Growth Investor.

    Warren Buffett's investment strategy can be succinctly classified as a combination of value and growth investment styles. To accomplish growth while maintaining value, he emphasizes the importance of the people who manage companies rather than the companies themselves. In this book, Jain expands upon Buffett's annual letters to Berkshire shareholders (thousands of pages over the last 43 years) and uncovers the key elements that every investors should know. Readers will learn that, contrary to popular beliefs, Warren Buffett is not a pure value investor - Buffett's strategy includes principles of both value and growth strategies. They will learn why CEOs and others managing companies are more important than financial metrics or industry affiliations, as well as why appropriate psychological temperament is necessary to be a successful investor. They also will learn how Buffett thinks differently from others about portfolio diversification, market efficiency, and corporate governance.

    A great book for anybody interested in stock market investments and a must read for any "Buffetologist".

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    Posted May 29, 2011

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    Posted July 9, 2011

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