Rating: Summary: Add this book to your investment books library! Review: For $9.99 this book is a steal. This book is full of good information on buying stocks. When I read a book, I underline any information I think is worth re-reading. I have underlined stuff on about 85% of the pages in the book (very high). This book is definitely a book to add to your investment library. After reading the book, you should go to http://www.quicken.com/investments/strategies/ where you can enter a stock symbol and get an analysis. Choose the "Robert Hagstrom's The Warren Buffet Way" investing strategy to see how Buffet might analyse a particular stock. I am not in any way related to Quicken or the publisher of this book. I just trade stocks for a living.
Rating: Summary: One of the best... Review: For starters, you can read this book and understand investing even if you're not a businessperson. Beginners should read the biography written by Roger Lowenstein first although this book is much more interesting. The book talks about the billionaire investor Warren Buffett, how he got started, his achievements, the type of guy he is, how he calculates what a company's worth. Much like a biography... but the best part in my opinion, are the details on Buffett's past purchases. Hagstrom (the author) actually gives charts to show these which to me is invaluable. You'll know what I mean if you've ever tried to put money in stocks as a value investor. To the experts (and I don't mean the people with advanced degrees or MBAs but the experienced VALUE investor), this book is a must have. I use it to study the specific purchases he made and by looking at the graphs, I think it's not hard to tell what Buffett was thinking, given what he already knows about the companies. And plus, you'll get some idea on calculating intrinsic value which I honestly think came from Hagstrom, not Buffett. But it's a start. As it relates to price, I'd say this book is undervalued, it's a screaming buy pitch (under US$6)... You'll learn a great deal about stocks and about people (from managers to stockbrokers). ahmadredza@rocketmail.com
Rating: Summary: Worth the read Review: Forget B-school, read this book. Seriously, a great introduction to value investing and the Buffett mentality of risk. Hagstrom's analysis is very easy to read and understand... a book everyone should read.
Rating: Summary: A detailed history of Warren Buffett's investing life Review: From this book, you can understand how Warren Buffett established his Kingdom of Investing - Berkshire Hathaway. His philosophy is very simple and understandable - 1.) Great potential in business 2.) Responsible management team 3.) Continuous growth rate
Rating: Summary: Excellent. Every investor's dream book. Review: Haagstrom is certainly a man after Buffet's heart. Reading the book makes me wanna go work for Buffett, but he doesn't hire MBAs. Learn the secrets that could change your life and realize that it's not luck and combination of circumstances that created the greatest legend outside Wall Street.
Rating: Summary: Good primer on sound investing Review: Hagstrom provides the novice with a basic understanding of the process by which Buffett has achieved stunning returns over the decades. The evaluation methods of the companies chosen are fundamental and lead the professional investor on the path to better stock picks. This method is not in depth but rather directed toward the public at large. The calculations for valuation of the target companies are sketchy at best. For those without experience or practice at understanding these calculations I don't believe they would be useful. This analysis of the Buffet Way of investing describes a careful search of undervalued solid performers that we all can learn from, though. It also demonstrates that the average investor would be better off trusting a professional to continuously search for those companies rather than attempting to take on this task himself.
Rating: Summary: A good book that should be part of any Buffett library Review: Hagstrom's book is a good, if wordy, summation of thetechniques of Warren Buffett. It is true he gives a few too manyexamples, and there are some very key questions about Buffett's investments he does not answer (for example, a section dealing with See's Candies, and how WB knew that paying $30 million for a company with a book value of $8 million was too much, but $25 million was acceptable), but overall this is a good book. Yes, you can learn many of the same things from Berkshire Hathaway shareholder letters--nowhere does Hagstrom discourage the reader from also seeking these out. As for the claim by some here that Hagstrom has never even met Buffett, he says right at the beginning of the book that he has (page 1...how could you miss that?), and describes the relationship with WB in some detail.
Rating: Summary: It's how Buffets invests, shouldn't you? Review: He's arguably the World's most successful investor. He's made billions for not only himself but also his business partners. It all leads one to believe that Warren Buffet knows something about which companies are good investments. "The Warren Buffet Way" spells out just how and why he became such a success. It starts with short biography of Buffet's life and his background in business and investing in his earlier days. The book then moves into what companies Buffet invested in and why. Throughout the briefs on companies he has invested in, it explains just why Buffet decided to buy into them. How Buffet valued the company compared to its going stock price and when that price was a bargain. "Buffet Way" comes down to doing your homework. It's not a roadmap on how to glean the wealth that Buffet has and its not a "get rich quick" scam. It reinforces Buffet's principles of investing for the long term, not worrying about short term price changes and not bothering with those "hot tips" from your broker. In the end it comes down to doing your research, your buying a business not a stock symbol as the man from Omaha puts it. This book will show you how he did it and how you can use his investment principles too.
Rating: Summary: Fabulous Read Review: I always thought that Warren Buffet made his fortune like every other crazy stockmarket freak, i.e until I read this book. Hagstrom explains how Buffet is able to rises above the market chaos. A must read for anyone interested in investing in the stockmarket.
Rating: Summary: Amazed by good reviews of this book Review: I am continually amazed by the good reviews this book receives; so I finally felt compelled to write. There is nothing in this book that Warren Buffett hasn't already said in his annual letters. Robert Hagstrom revealed his true reason for writing this book when the first paperback edition came out and in it, in fine print, was a notice stating that Hagstrom had started an investment fund designed to invest using Warren Buffett's principles (read: way). That is, he wrote the book so you would learn his name, become confident in his ability to analyze investments like Buffett does, and invest in his fund (which has a hefty expense ratio and has performed quite poorly I understand). So he writes this page book, in which he recommends that if you ever have the chance to read Buffett's annual letters, you should, since they "read like a book on his investment philosophy". I took his suggestion, ordered the back annual letters (sold by Berkshire Hathaway for $15) and found they repeated everything in this book - sometimes word for word (now how could Buffett have known what Hagstrom was going to write?). I get the feeling that Hagstrom has never met Buffett and never discussed investing with him (unlike Lowenstein, Lowe, Train, etc.) and his only research for this book was Buffett's annual letters. I learned more about Buffett's style from Roger Lowenstein's biography. Take Robert Hagstrom's advice and purchase the annual letters; they say the same thing - except Buffett's sense of humor is better.
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