7 Secrets to Investing Like Warren Buffett

7 Secrets to Investing Like Warren Buffett

Unabridged — 3 hours, 21 minutes

7 Secrets to Investing Like Warren Buffett

7 Secrets to Investing Like Warren Buffett

Unabridged — 3 hours, 21 minutes

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Overview

A clear, simple, and complete guide for beginning investors from bestselling author Mary Buffett and Sean Seah that explains Warren Buffett's techniques of Value Investing and his proven strategies to ensure long-term success.

For twelve years, Mary Buffett was part of the Buffett inner circle. During that time, she studied Warren's investment strategies and techniques and observed his habits. Now, in 7 Secrets to Investing Like Warren Buffett, Mary and Sean Seah provide a complete guide for beginning investors who want to understand how to invest like Warren Buffett.

Mary and Sean walk readers through the process of assessing and buying stocks step-by-step. Their friendly and direct style and concrete examples make it easy to understand how to avoid common pitfalls and prosper in the stock market. The first section of the book discusses habits to adopt to begin a lifelong journey of wealth building. The second section examines specific stock-picking techniques inspired by Buffett's teacher Benjamin Graham and that are vastly different from the common Wall Street wisdom of trying to time the market. The authors look at timeless principles as well as latest ideas on where to find great investment ideas, and they share the specific financial indicators they look for in a good investment. Finally, Mary and Sean explain how to build and track a portfolio of stocks.

From learning how to read financial statements to preparing both personal and professional balance sheets, 7 Secrets to Investing Like Warren Buffett is a must-have companion for every investor. Simple questionnaires, charts, and graphs help illustrate specific strategies. The authors' personal stories provide a clear explanation of the theory behind Value Investing, as well as advice for developing the necessary "soft skills"—habits, mindset, loving what you do, taking care of your mind and body—that have made Warren Buffett and many others so successful.


Product Details

BN ID: 2940170456154
Publisher: Simon & Schuster
Publication date: 10/22/2019
Edition description: Unabridged
Sales rank: 826,966

Read an Excerpt

Chapter 1: The Power of Habits
The chains of habit are too light to be felt until they are too heavy to be broken.

BENJAMIN GRAHAM

Habits define who you are, how you live your life, and the results you will get from your efforts. If you are overweight, it is very possibly due to not having the right eating and exercising habits. If you are broke, it is most likely because you are not practicing the right financial planning.

Truly wealthy people have habits that help them create wealth. But many people do not adopt empowering habits; instead they resort to get-rich-quick schemes, believing that one good investment, one jackpot, or one home run can change their financial destiny instantly and permanently.

On August 25, 2017, CNBC published an article stating that lottery winners and other people who receive financial windfalls tend to squander their newly found money and end up being worse off than they were initially.

Why is that so?

The answer is simple. It is akin to people who go on a crash diet hoping to lose weight quickly. This may work in the short run, but your body is unlikely to maintain the weight loss over time. Most people eventually give up and eat more than they did before to compensate for what they’ve been missing, and they gain weight.

Fast results seldom work.

Warren once said, “No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant.”

What is the sensible path?

Take your time. Have patience. Be disciplined.

Remember, Rome was not built in a day. You can adopt sustainable and consistent actions that help you achieve your goals. Although results do not materialize overnight, the good news is that as you start to adopt good habits, you will be rewarded with small achievements. The key is to be disciplined and persistent.

In the following chapters, I want to share with you the important habits of wealthy and successful people. Adopt good habits, and you will start noticing positive changes in your life.

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