Book the snowball warren buffett and the business of life


 

The Snowball: Warren Buffett and the Business of Life [Alice Schroeder] on documentary Becoming Warren Buffett Here is the book recounting the life and. Editorial Reviews. From Publishers Weekly. In this startlingly frank account of Buffett's life, Here is the book recounting the life and times of one of the most respected men in the world, Warren Buffett. The legendary Omaha investor has never. Here is THE book recounting the life and times of one of the most respected men in the world, Warren Buffett. The legendary Omaha investor has never written a.

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Book The Snowball Warren Buffett And The Business Of Life

Before this book was written, Warren Buffett rejected numerous approaches by biographers, journalists, and publishers to cooperate on an account of his life. The Snowball. Warren Buffett and the Business of Life. Alice Schroeder. BANTAM BOOKS. To David. It is the winter of Warren's ninth year. Outside in the yard. I will be talking about pricing stocks, but I will not be talking about predicting their course of action next month or next year. Valuing is not the.

I could not persuade myself that it was reading any further about a small-time juvenile delinquent who was or at least represented as being I listened to the audible, unabridged, version of this book. Buffett's life is like no one's The Snowball: Warren Buffett and the Business of Life. Alice Schroeder. Here is THE book recounting the life and times of one of the most respected men in the world, Warren Buffett. The legendary Omaha investor has never written a memoir, but now he has allowed one writer, Alice Schroeder, unprecedented access to explore directly with him and with those closest to him his work, opinions, struggles, triumphs, follies, and wisdom. His reality is private, especially by celebrity standards. Indeed, while the homespun persona that the public sees is true as far as it goes, it goes only so far. Warren Buffett is an array of paradoxes. He set out to prove that nice guys can finish first. Over the years he treated his investors as partners, acted as their steward, and championed honesty as an investor, CEO, board member, essayist, and speaker. Her writings on finance impressed him, and as she came to know him she realized that while much had been written on the subject of his investing style, no one had moved beyond that to explore his larger philosophy, which is bound up in a complex personality and the details of his life. Out of this came his decision to cooperate with her on the book about himself that he would never write.

She believed that numerous contradictions in his life needed to be explained. How did a man who grew up in a conservative Republican family become a liberal Democrat? Why is someone so interested in making money so uninterested in spending it on himself?

Through interviews with Buffett, his family, and friends, Schroeder has been able to explore these and numerous other issues. For those who have read the Lowenstein biography of Buffett, many events recounted in The Snowball will be familiar.

The Snowball - Warren Buffett and the Business of Life

Most of us who followed the story believed that the transaction broke down because the terms were unsatisfactory to LTCM, but the actual explanation is more interesting and even amusing. The financial crisis, which led to bailouts of numerous financial firms, has been widely regarded as unprecedented, but The Snowball reminds its readers that the Great Depression was not the most recent financial crisis to raise the specter of systemic risk. At the time, the fear that one of those organizations would be the first domino to fall, leading to a collapse of the world financial system, was widespread.

In the intervening years, regrettably, little heed was given to warnings by Buffett and others that excessive leverage and reckless use of derivatives might again bring the system to the brink.

Reading The Snowball drives home not only the truth that we are all dead in the long run but also that Buffett is usually correct. For example, his avoidance of technology stocks during the dot-com boom provoked derision but his insights were ultimately vindicated with a vengeance. Schroeder has succeeded in her objective of presenting Warren Buffett in his entirety.

She does a skillful job of elucidating his relationships with friends, family, and business associates. If you have even the hint of a gut feeling of what it is you want to do with your life, go for it. Start now.

The Snowball: Warren Buffett and the Business of Life - Alice Schroeder - Google книги

Not tomorrow, but today. Passion has a way of finding us, once we start working. Time and time again, he chose to sacrifice a good today for a better tomorrow. For example, his mentor Ben Graham taught him that good businesses are like thrown away cigar butts: But he patiently waited for the right opportunity, not just the next one.

The managers of his companies he patiently got to know before settling on new ventures to invest in.

The Snowball: Warren Buffett and the Business of Life (Unabridged)

And the SEC investigation in and the newspaper lawsuit ending in ? He patiently waited throughout those too.

One of the great things patience allows you to do is never choose what seems like a shortcut over the long-term, right thing to do. It takes 20 years to build a reputation and five minutes to ruin it.

Warren treaded lightly all his life, as he knows a good image is quickly lost. For example, integrity is what brought him to help his good friend John Gutfreund which literally means good friend in German , in exchange for his support in investing in GEICO.

Inside the mind of a colossus

So far, I can recommend the summary for sure! Start early.

Be patient. Choose tomorrow over today. Build a reputation.

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