Buffett: The Making of an American Capitalist
14 more ideas from Buffett and Munger I don’t want to forget:
1. The one thing that has surprised me all my life is how many people with high IQs do massively stupid things.
2. Berkshire was a small business at one time. It just takes time. It is the nature of compound interest. You can't build it in one day, or one week.
3. Unfortunately, Bert... See more
“Here is an all-too-brief summary of Buffett’s approach: He looks for what he calls “franchise” companies with strong consumer brands, easily understandable businesses, robust financial health, and near-monopolies in their markets, like H & R Block, Gillette, and the Washington Post Co. Buffett likes to snap up a stock when a scandal, big loss,... See more
Benjamin Graham • The Intelligent Investor Rev Ed.: The Definitive Book on Value Investing
More than 2,000 books are dedicated to how Warren Buffett built his fortune. Many of them are wonderful. But few pay enough attention to the simplest fact: Buffett’s fortune isn’t due to just being a good investor, but being a good investor since he was literally a child. As I write this Warren Buffett’s net worth is $84.5 billion. Of that, $84.2 b... See more
Morgan Housel • The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
Warren Buffett has said he doesn't do due diligence. This was a statement about Precision Castparts which is one of his largest acquisitions ever. And everybody just ignored that comment, but it was a profound comment. And what he meant by it was that he didn't need to do due diligence. He had been reading every 10-K published by Precision Castpart... See more