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The Warren Buffett Way / Edition 2

The Warren Buffett Way / Edition 2

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A decade has passed since the book that introduced Warren Buffett to the world–The Warren Buffett Way by Robert Hagstrom–first appeared. Since then, Buffett has solidified his reputation as the greatest investor of all time–quietly amassing a multibillion-dollar fortune, despite the wild fluctuation of the markets.

Although Buffett has claimed time and again that what he does is not beyond anybody else’s competence, some people still do not understand how this value investing legend can consistently perform so well. That’s where Robert Hagstrom and the Second Edition of The Warren Buffett Way come in. This completely revised and updated look at the Oracle of Omaha encompasses Buffett’s numerous investments and accomplishments over the past ten years, as well as the timeless and highly successful investment strategies and techniques he has always used to come out a market winner.

Rather than presenting Buffett’s strategies by stock purchases–as he did in the first edition–Hagstrom makes "Buffett’s Way" more accessible to you, the individual investor, by presenting Buffett’s basic tenets of investing and illuminating these principles with relevant and up-to-date examples from Buffett’s investments, including common stocks, private companies, and high-yield bonds.

Standing far above the market madness, this timely guide distills the wisdom and insight of the world’s greatest investor. It skillfully . . .

  • Presents a brief history of Buffett from boyhood to Berkshire Hathaway, and reveals the individuals and events that shaped his investing philosophy
  • Outlines the business, management, finance, and value tenets that make up the core of Buffett’s investing approach
  • Examines Buffett’s ongoing process of managing a portfolio from knowing which stocks to hold, and for how long, to deciding if, when, and how to cash out some investments and move into others
  • Discusses the psychology of money and how Buffett uses this concept to avoid common investment mistakes and recognize other people’s mistakes in time to profit from them

Change is constant, but the investment principles outlined in this book have remained the same. In an environment that seems to favor the speculator over the investor, Buffett’s investment advice has proven, time and again, to be a safe harbor for millions of lost investors. No one understands Warren Buffett like Robert Hagstrom, and in the Second Edition of The Warren Buffett Way, Hagstrom will help you–whether you’re a seasoned investor or just getting started–understand and employ the investment strategies that have made Buffett so successful for over five decades.

Product Details

ISBN-13: 9780471648116
Publisher: Wiley
Publication date: 10/08/2004
Series: Wiley Investment Classic Series , #30
Edition description: REV
Pages: 272
Product dimensions: 6.36(w) x 9.31(h) x 1.01(d)

About the Author

ROBERT G. HAGSTROM is one of the best-known authors of investment books for general audiences. He has written nine books, including the New York Times bestselling The Warren Buffett Way and The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy. He is also the author of The NASCAR Way: The Business That Drives the Sport; The Detective and the Investor: Uncovering Investment Techniques from the Legendary Sleuths; and Investing: The Last Liberal Art. Robert is a graduate of Villanova University with a BA and MA and is a Chartered Financial Analyst. He lives with his family in Villanova, Pennsylvania. Visit Robert's website at

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Table of Contents

Foreword to the Second Editionvii
Foreword to the First Editionix
1The World's Greatest Investor1
2The Education of Warren Buffett11
3"Our Main Business Is Insurance": The Early Days of Berkshire Hathaway29
4Buying a Business41
5Investing Guidelines: Business Tenets61
6Investing Guidelines: Management Tenets81
7Investing Guidelines: Financial Tenets109
8Investing Guidelines: Value Tenets121
9Investing in Fixed-Income Securities141
10Managing Your Portfolio157
11The Psychology of Money177
12The Unreasonable Man189
Afterword: Managing Money the Warren Buffett Way199

What People are Saying About This

Peter S. Lynch

The Warren Buffett Way outlines his career and presents examples of how his investment techniques and methods evolved and the important individuals in that process. It also details the key investment decisions that produced his unmatched record of performance. (from the Foreword by Peter S. Lynch, Bestselling author, One Up on Wall Street and Beating the Street)

John Rothchild

It's first rate. Buffett gets a lot of attention for what he preaches, but nobody has described what he practices better than Hagstrom. Here is the lowdown on every major stock he ever bought and why he bought it. Fascinating. You could even try this at home. (John Rothchild, Financial columnist, Time magazine)

John C. Bogle

Robert Hagstrom presents an in-depth examination of Warren Buffett's strategies, and the 'how and why' behind his selection of each of the major securities that have contributed to his remarkable record of success. His 'homespun' wisdom and philosophy are also part of this comprehensive, interesting, and readable book. (John C. Bogle, Chairman, The Vanguard Group)

Kenneth L. Fisher

If you think you know all about Warren Buffett, you have a lot to learn from this book. I can't say enough good things about it, so I won't say much more than read it. (Kenneth L. Fisher, Forbes)

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The Warren Buffett Way 3.6 out of 5 based on 0 ratings. 15 reviews.
DeanMR More than 1 year ago
A great book if you are interested in value investing
Guest More than 1 year ago
Hagstrom's book gives a very detailed and thorough anlaysis of Buffett's investment philosophy and methodology. I would recommend it to anyone wanting to select only the finest stocks.
06nwingert on LibraryThing More than 1 year ago
The Warren Buffet Way is a comprehensive look at the investment strategies of Warren Buffet, the richest man in the world. The book was written with enough economic jargon that satiates the business-savy, but wasn't too complex for laymen. While I don't expect to become a billionaire like Buffet, I was able to gleam enough information from the book to assist me in whatever investments I make, and allowed me to glance into the mind of the world's richest man.
WaldoCreed on LibraryThing More than 1 year ago
This seemed to be a great book on fundamentals of investing. However, a lot of it was over my head due to my lack of financial literacy (The WSJ Guide to Understanding Money and Investing helped that a lot). What I gained from it the most was a new perspective on life: whatever we are spending our time, money, and effort on is an investment. Analyze whether it has any real value.
Anonymous More than 1 year ago
Easy to read with great breakdowns of Buffet's investing.
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phyllis54 More than 1 year ago
Have not read it yet...looks good fast delivery...