The Warren Buffetts Next Door: The World's Greatest Investors You've Never Heard Of and What You Can Learn From Them

Overview

From February 2001 through March 2010, an investment in awell-run index fund like Vanguard Total Stock Market would haveearned you an annual return of less than 2%. The same investment inWarren Buffett's Berkshire Hathaway would have netted 6.25% onaverage per year. Had you invested in Mike Koza's portfolio, yourtotal return would have averaged 34% per year.

Who's Mike Koza? He's a civil engineer for the Sacramento CountyDepartment of Waste Management. He's also one of a growing...

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Overview

From February 2001 through March 2010, an investment in awell-run index fund like Vanguard Total Stock Market would haveearned you an annual return of less than 2%. The same investment inWarren Buffett's Berkshire Hathaway would have netted 6.25% onaverage per year. Had you invested in Mike Koza's portfolio, yourtotal return would have averaged 34% per year.

Who's Mike Koza? He's a civil engineer for the Sacramento CountyDepartment of Waste Management. He's also one of a growing numberof armchair investors taking control of their investment portfoliosand routinely beating the Street's biggest names. The WarrenBuffetts Next Door is Mike Koza's story, and the stories of nineothers like him. And it's your guidebook should you decide to takecontrol of your financial future.

In The Warren Buffetts Next Door: The World's Greatest InvestorsYou've Never Heard of and What You Can Learn from Them, Forbes'sMatthew Schifrin provides case studies of ten successfulinvestors—everyday people—who are investing inthemselves, and in the process, experiencing extraordinary returns.Schifrin details their personal stories, along with theirinvestment strategies, trading philosophies, and rules forinvesting. You'll learn about:

  • Christopher Rees, who spent close to thirty years of his liferoaming from one town to the next working at any job that would payhim enough to continue his travels. Since October 2000, hisinvestments have seen an average annual return of 25% versus 0.21%for the S&P 500
  • Jack Weyland, a former truck driver whose average annual returnsince July 2002 is 36% vs. 7% for the S&P 500
  • Alan T. Hill, a retired educational software executive whosecumulative return since July 2005 is 1,026% vs. 28% forthe S&P500

There are more than fifty million online investors. Many ofthese "amateurs" are achieving professional results without theprofessional commissions. Their names may never be on the level ofa Buffett or a Bogle, but people like Koza, Rees, Weyland, and Hillaren't out to make a name for themselves. They're out to makeenough money to enjoy a lifestyle of their choosing. And that'sexactly what they're doing. And with The Warren Buffetts Next Door,it's what you can do, as well.

The only real prerequisite to becoming a good investor iscommitting the time to educate yourself. The Warren Buffetts NextDoor offers timeless advice and inspiration for any investor hopingto profit by investing in themselves.

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Product Details

  • ISBN-13: 9780470573785
  • Publisher: Wiley
  • Publication date: 11/9/2010
  • Edition number: 1
  • Pages: 224
  • Sales rank: 257,186
  • Product dimensions: 6.30 (w) x 9.10 (h) x 1.00 (d)

Meet the Author

Matthew Schifrin is Vice President and Investing Editor at Forbes Media LLC. He oversees money, investing, and personal finance content in Forbes magazine and on Forbes.com, including its Intelligent Investing and Financial Adviser Network. Schifrin also manages Forbes Newsletter Group and Forbes iConferences, and was the founding editor of Forbes.com's Best of the Web. As an investigative reporter, his articles have been featured on the cover of Forbes magazine dozens of times and he has been a finalist for an American Society of Magazine Editors National Magazine Award. Schifrin is a frequent speaker at investor conferences and has appeared numerous times on radio and television.

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Table of Contents

Foreword xiii

Acknowledgments xv

Introduction: Thou Shalt Covet Thy Neighbor's Portfolio xvii

Chapter 1 Vagabond Value 1

Tangible Tactics 3

Who Is Chris Rees" 6

Rees's Rules of Investing 10

Case Study: Abatix Corp (OTC: ABIX) 11

Rees: In His Own Words 12

Reflecting on the Financial Meltdown of 2008 12

Chapter 2 Options Apostle 15

Sell Options, Have Fun, and Make Money 18

Who Is Bob Krebs" 20

Krebs's Rules of Investing 24

Case Study: Annaly Mortgage (NYSE: NLY) 29

Krebs: In His Own Words 32

On Avoiding the Big Loss 32

A Silver Lining to the Crash of 2008 33

Chapter 3 Lady's Man 35

Knife Catching 37

Who Is Mike Koza" 42

Koza's Rules of Investing 46

Case Study: Radian Group (NYSE: RDN) 48

Koza: In His Own Words 50

On Comparing the Market to Whitewater Rafting 50

On Professional Money Management 51

Chapter 4 The Sorcerer's Apprentice 53

Magpie Investing 56

Who Is Kai Petainen" 60

Petainen's Rules of Investing 63

Case Study: Ternium, S.A. (NYSE:TX) 65

Petainen: In His Own Words 67

On Jim Cramer, John Stewart, Stock Analysts, and "Sisu" 67

Chapter 5 Network Miner 69

Peer-to-Peer Profits 71

Who Is Alan Hill" 77

Hill's Rules of Investing 79

Case Study: China Energy Corp. (OTCBB: CHGY) 80

Hill: In His Own Words 83

On China's Emergence 83

On Change 83

Chapter 6 Ramblin' Jack 85

Buying Hiccups 87

Who Is Jack Weyland" 93

Weyland's Rules of Investing 96

Case Study: Iomai 98

Weyland: In His Own Words 100

On Health Care versus Other Sectors 100

On His Approach to Investing 100

Chapter 7 The Oracle of Manitoba 101

Warren Buffett Meets Sir John Templeton 102

Who Is Randy McDuff" 104

McDuff's Rules of Investing 107

Case Study: Companhia Brasileira de Distribuicao (NYSE:CBD) 111

McDuff: In His Own Words 114

On Utilities and Recession-Resistant Stocks 114

Post-2008 Crash Investing 114

On Retirement Investing 115

On New Money versus Old Money 115

Chapter 8 Mexican Gold 117

From Detective to Deal Maker 120

Who Is Andrew Swann" 124

Swann's Rules of Investing 129

Case Study: Oceana Gold (TSE: OGC.CA) 131

Swann: In His Own Words 133

On Owning Physical Gold 133

On Whether He Is a Speculator or Investor 133

On Living in Mexico 133

Chapter 9 Stock Angler 135

Do as I Do, Not as I Say 138

Who Is Justin Uyehara" 142

Uyehara's Rules of Investing 143

Case Study: Mediation (NASDAQ: MDVN) 145

Uyehara: In His Own Words 147

On His Goal of Becoming a Money Manager 147

On Price-Earnings Multiples 147

On the Market's Strong Rebound from 2008 147

Chapter 10 Bear Market Hero 149

Bear Tracking 151

Who Is John Navin" 157

Navin's Rules of Investing 160

Case Study: PowerShares DB U.S. Dollar Index Bullish (NYSE: UUP) 162

Navin: In His Own Words 163

On Playing Blackjack and Investing 163

On Technical Analysis versus Fundamental Analysis 164

On the Goldman Sachs Scandal Fallout 164

Chapter 11 Legendary Investor Incubators 165

Marketocracy (marketocracy.com) 166

ValueForum.com (valueforum.com) 168

Value Investors Club (valueinvestorsclub.com) 170

Motley Fool Caps (caps.fool.com) 171

Covestor (covestor.com) 172

kaChing.com (kaching.com) 173

RiskGrades (riskgrades.com) 174

Investor's Business Daily (investors.com) 175

American Association of Individual Investors (aaii.com) 176

FundAlarm (fundalarm.com) 177

StockCharts.com (stockcharts.com) 178

Other Sites to Bookmark 179

Notes 183

About the Author 187

Index 189

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  • Posted March 6, 2011

    Can't put it down

    I'm really enjoying this book. I'm almost finished it, but I just got it a couple of days ago. While I know the results aren't typical, its good to see that average joe's can work hard and teach themselves how to handle their own money. Inspirational.

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