Even Buffett Isn't Perfect: What You Can--and Can't--Learn from the World's Greatest Investor

Even Buffett Isn't Perfect: What You Can--and Can't--Learn from the World's Greatest Investor

by Vahan Janjigian, Steve Forbes

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A contrarian look at how Warren Buffett thinks about investing and related issues

Warren Buffett is the most successful and revered investor of all time. His ability to consistently find undervalued companies has made him one of the world’s richest men.

Despite many previous books about him, it’s rare to find an objective assessment—one that praises him when appropriate, but also recognizes that even Buffett makes mistakes. For instance, is he right to call for higher taxes and an end to earnings guidance? Should Buffett fans copy his avoidance of technology stocks?

In this penetrating look at how Buffett thinks, Vahan Janjigian shows readers how to learn from the master’s best moves while avoiding strategies that don’t apply to small investors. And he explains Buffett’s favorite valuation methodology, the discounted cash flow model, and how it can significantly reduce the odds of overpaying for a stock.

Product Details

ISBN-13: 9781440631474
Publisher: Penguin Publishing Group
Publication date: 05/01/2008
Sold by: Penguin Group
Format: NOOK Book
Pages: 256
Sales rank: 1,091,396
File size: 629 KB
Age Range: 18 Years

About the Author

Vahan Janjigian grew up in Wynnewood, Pennsylvania. He attended Lower Merion High School where he developed a life-long love for track&field. Vahan holds degrees from Villanova University and Virginia Tech. He spent many years teaching corporate finance and investments at various universities. He joined Forbes in 1997 to serve as editor of the Forbes Special Situation Survey, one of the nation's oldest continuously published investment newsletters. While he still fills that role, Vahan is also Chief Investment Officer at Greenwich Wealth Management, LLC, where he manages portfolios for his clients.

Table of Contents

Foreword   Steve Forbes     ix
Introduction     1
The New Diversified Buffett?     15
The Undervalued Buffett     43
Value for the Long Run, Growth for the Short     73
Never Marry a Stock     91
What Buffett Buys     107
When "Good" Investments Go Bad     123
Governance and the Next Buffett     147
No Options for Buffett     163
The Pro-Tax Buffett     179
Give Us Guidance     191
Conclusion     205
Acknowledgments     219
Notes     221
Index     227

What People are Saying About This

From the Publisher

"This is the best book on Buffett in years. Compelling, penetrating, and highly valuable."
-Lawrence Kudlow, host, CNBC's Kudlow and Company

"The author takes a contrarian - or at least mildly dissenting - view of Mr. Buffett's investing acumen. . . Mr. Janjigian also sheds light on Mr. Buffett's magic. Mr. Buffett has two large advantages that the average investor doesn't have, advantages that are often overlooked by those who try to mimic him."
-The Wall Street Journal

"This is exactly what has been missing from the litany of Buffett books. Vahan's razor sharp arguments make this book a unique- and important- work for every Buffett friend or foe."
-Barbara Marcin, portfolio manager, Gabelli Blue Chip Value Fund "Clear and compelling."
-Publishers Weekly

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Even Buffett Isn't Perfect: What You Can--and Can't--Learn from the World's Greatest Investor 5 out of 5 based on 0 ratings. 3 reviews.
Guest More than 1 year ago
When I heard Warren Buffett was going to give most of his fortune away to charity, I thought that was great. But I couldn't understand why he would do this if he also thought the estate tax was a good thing. Why didn't he just let the government take his money? This has always been one of the biggest inconsistencies in Mr. Buffett's thinking. Finally, someone writes a book exposing this. I find it incredible that no one else has delved into this matter.
Guest More than 1 year ago
If you're looking for a biography or an obsequious treatise, forget this. If you want a good look at how Buffett invests, this is the book for you. Janjigian analyzes Buffett's strategies and tells us what has worked and what hasn't. He really takes Buffett to task on the tax issue, a well-deserved criticism. That chapter alone is worth the entire book. Two nice features are that at the end of each chapter are quick summaries of the key points, and it's a fairly short book so it's an easy and quick read. Buy it. It'll be a better investment than a share of Berkshire Hathaway stock and will cost about $113,000 less.
Guest More than 1 year ago
This is the only objective book on Warren Buffett I have come across. The chapters on taxes and earnings guidance are particularly instructive. While concluding that Buffett is indeed a great investor, the author also explains how many of the policies Buffett advocates hurt investors.