Warren Buffett on Business : Principles from the Sage of Omaha

Overview

The name Warren Buffett issynonymous with success and prosperity inthe business world. There are many books written about how Buffettinvests and how you can invest just like him—but this is notone of them. This book is not about how Buffett invests, butrather, it is about his highly successful business managementprinciples and practices. It is about his way of communicating withand treating employees and shareholders fairly and honestly;responsible corporate governance; ethical behavior; patience ...

See more details below
Other sellers (Hardcover)
  • All (20) from $1.99   
  • New (6) from $14.39   
  • Used (14) from $1.99   

Overview

The name Warren Buffett issynonymous with success and prosperity inthe business world. There are many books written about how Buffettinvests and how you can invest just like him—but this is notone of them. This book is not about how Buffett invests, butrather, it is about his highly successful business managementprinciples and practices. It is about his way of communicating withand treating employees and shareholders fairly and honestly;responsible corporate governance; ethical behavior; patience andperseverance;admitting mistakes; having a passion for work; andhaving fun and a sense of humor. Warren Buffett on Business is apractical management handbook on the Buffett/Berkshire Hathawaymodel of effectively managing a business, large or small.

Drawing from carefully selected Berkshire Hathaway shareholders'letters written over four decades (1977-2008), Connors presentsBuffett's own words on corporate culture, communication, riskmanagement, time management, crisis management, executivecompensation, capital allocation and management, and much, muchmore. Taken as a whole, they show that, when you strip it all away,effective business management the Warren Buffett way is remarkablyobvious and simple. As Buffett himself describes his businessprinciples, they are "simple, old, and few."

An informative and inspiring book on Berkshire Hathaway'sbusiness management practices, all in Warren Buffett's own words,Warren Buffett on Business provides direct, hands-oninformation on how to effectively manage a company that willconnect with senior executives, managers, entrepreneurs, andbusiness students.

Read More Show Less

Product Details

  • ISBN-13: 9780470502303
  • Publisher: Wiley
  • Publication date: 12/9/2009
  • Edition number: 1
  • Pages: 258
  • Sales rank: 1,380,916
  • Product dimensions: 6.30 (w) x 9.00 (h) x 1.10 (d)

Meet the Author

Richard J. Connors is a Registered Investment Advisor and owner of Connors Investment Management Company in St. Louis, Missouri. Beginning in 2006, he has presented a class on Warren Buffett at the Washington University in St. Louis Lifelong Learning Institute. He is a graduate of the University of Notre Dame Business School and the St. Louis University School of Law.

Read More Show Less

Table of Contents

Acknowledgments ix

Introduction xi

Chapter 1 Shareholders as Partners 1
"Although our form is corporate, our attitude ispartnership."

Chapter 2 Corporate Culture 5
"It takes 20 years to build a reputation and fi ve minutes toruin it. If you think about that, you'll do thingsdifferently."

Chapter 3 Corporate Governance 15
"At Berkshire, board members travel the same road asshareholders."

Chapter 4 Berkshire Managers 29
"They love their businesses, they think like owners, and theyexude integrity and ability."

Chapter 5 Communication 33
"As managers, Charlie and I want to give to our owners thefinancial information and commentary we would wish to receive ifour positions were reversed."

Chapter 6 Acquisition of Nebraska Furniture Mart 43
"We gave Mrs. B a check for $55 million and she gave us herword. That made for an even exchange."

Chapter 7 Acquisition of GEICO 51
"The security I like best"

Chapter 8 Acquisition of General Reinsurance 57
"Long ago, Mark Twain said: 'A man who tries to carry a cat homeby its tail will learn a lesson that can be learned in no otherway.' If Twain were around now, he might try winding up aderivatives business. After a few days, he would opt forcats."

Chapter 9 The Assessment and Management of Risk 71
"Don't think, however, that we have lost our appetite for risk.We remain prepared to lose $6 billion in a single event, if we havebeen paid appropriately for assuming that risk."

Chapter 10 Executive Compensation 77
"At Berkshire . . . I am a one man compensation committee whodetermines the salaries for the CEOs of around 40 significantoperating businesses. How much time does this aspect of my jobtake? Virtually none. How many CEOs have voluntarily left us forother jobs in our 42-year history? Precisely none."

Chapter 11 Time Management 83
"When my mother got to be eighty the most important thing in howlong you live is how long your parents live. I got her an exercisebike, put her on a strict diet, and she's just piling up the yearsfor me."

Chapter 12 How to Manage a Crisis 87
". . . I will attempt to do it in the manner of a fellow thathas never met a lawyer."

Chapter 13 Management Principles and Practices 99
"Simple, old and few."

Chapter 14 Executive Behavior 131
"Many CEOs attain their positions because they possess anabundance of animal spirits and egos. . . . When such a CEO isencouraged by his advisors to make deals, he responds such as woulda teenage boy who is encouraged by his father to have a normal sexlife. It's not a push he needs."

Chapter 15 Mistakes I've Made 141
"I can look back on every year in terms of mistakes I've made.The dumbest mistake I ever made was, will probably be in thefuture."

Chapter 16 Personal Investing 151
"Your goal as an investor should simply be to purchase, at arational price, a part interest in an easily understandablebusiness whose earnings are virtually certain to be higher fi ve,ten, and fi fteen years from now."

Chapter 17 Buffett, the Teacher 165
"If I talk to 50–60 year olds, basically they want to beentertained by my predictions and if I talk to 20 year olds or even25 year olds, they ask me the questions on their minds. . . . Theidea is that they listen and you may change some lives."

Chapter 18 Humor and Stories 175
"In the words of the prophet Mae West: too much of a good thingis wonderful."

Appendix A Warren E. Buffett, A Chronological History 181

Appendix B Berkshire Hathaway Inc., An Owner's Manual,Owner-Related Business Principles, January 1999 189

Appendix C Berkshire Hathaway Inc., Code of Business Conduct andEthics 201

Appendix D July 23, 2008, Memo to Berkshire Hathaway Managers209

Appendix E Berkshire Hathaway Inc., Corporate GovernanceGuidelines, as Amended on February 27, 2006 213

Appendix F Intrinsic Value 219

Appendix G The Superinvestors of Graham-and-Doddsville 223

Appendix H Berkshire's Corporate Performance versus the S&P500 237

Appendix I Berkshire Hathaway Common Stock—Year-End StockPrices 241

Notes 243

About the Author 259

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)