The Essential Buffett: Timeless Principles for the New Economy / Edition 1

The Essential Buffett: Timeless Principles for the New Economy / Edition 1

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The Essential Buffett: Timeless Principles for the New Economy / Edition 1

Applying Buffett's principles to technology and international investing

From the bestselling author of The Warren Buffett Way and The Warren Buffett Portfolio comes The Essential Buffett: Timeless Principles for the New Economy. In this fresh take on Buffett's irrefutable investment methods, Robert Hagstrom shows readers how to apply Buffett's principles to technology and international investing using real-life case studies of successful fund managers like Legg Mason's Bill Miller.

Following the Buffett model, Hagstrom explains Buffett's four timeless principles: 1) analyze a stock as a business; 2) demand a margin of safety for each purchase; 3) manage a focus portfolio; 4) protect yourself from the speculative and emotional forces of the market. Then Hagstrom shows how Buffett's thinking can be applied in the new economy, addressing technology investing, international investing, small cap stocks, and socially responsible investing. Perhaps most valuable are Hagstrom's insights into the psychology behind Buffett's focus investing. For the first time, we are given sure-fire guidelines on how to become a winning Buffett disciple.

The Essential Buffett will include convenient sidebars featuring key Buffett ideas, enabling readers to quickly compare Buffett's fundamental tenets.

Product Details

ISBN-13: 9780471389798
Publisher: Wiley
Publication date: 03/01/2001
Pages: 304
Product dimensions: 6.28(w) x 9.31(h) x 1.06(d)

Table of Contents

1The Unreasonable Man1
Lesson 14
Lesson 27
A Better Yardstick10
Lesson 313
The Search for Patterns15
Why Has Wall Street Ignored Warren Buffett?17
A Different Way of Thinking18
2The World's Greatest Investor23
Investment Beginnings24
The Buffett Partnership, Ltd.25
The Early Days of Berkshire Hathaway26
The Insurance Business27
A Mosaic of Other Businesses33
The Man and His Company41
3Lessons From the Three Wise Men of Finance47
Benjamin Graham48
Philip Fisher61
Charlie Munger68
A Blending of Influences71
4Guidelines for Buying a Business: Twelve Immutable Tenets77
Business Tenets80
Management Tenets84
Financial Tenets94
Market Tenets101
The Coca-Cola Company106
The Intelligent Investor121
5Focus Investing: Theory and Mechanics123
Focus Investing: The Big Picture127
Do the Math132
Modern Portfolio Theory148
6Managing Your Portfolio: the Challenge of Focus Investing161
John Maynard Keynes163
Charles Munger Partnership166
Sequoia Fund168
Lou Simpson171
Three Thousand Focus Investors174
A Better Way to Measure Performance177
Two Good Reasons to Move Like a Sloth189
Fair Warning Label194
7The Emotional Side of Money197
The Temperament of a True Investor198
8New Opportunities, Timeless Principles217
Beyond Buffett218
Technology Stocks220
Smaller and Mid-Capitalization Stocks233
International Stocks240
Learning from the Best250

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