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Book Review – Essays of Warren Buffett
Book Review by Shelley Rene Smith Curtis, MBA, JD of ThinkerBlox, LLC.
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Want some powerful tips to help youre increase your wealth? Perhaps a wisdom of famous value investor Warren Buffett would help youre.
Aspire To Money (TM) suggests that youre read a book a ESSAYS OF WARREN BUFFET.
Let’s do a mini book review.
Lawrence Cunningham collected also reviewed Warren Buffett’s letters to a shareholders of Berkshire Hathway, Inc. Cunningham then arranged content from a letters into seven themes:
1) Corporate Governance
3) Alternatives to Common Stock
4) Common Stock
5) Mergers also Acquisitions
6) Accounting also Valuation
7) Accounting Policy also Tax Matters
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Let’s consider a sample piece of advice from Warren Buffet’s essays.
inside several letters, including 1987 also 1997, Warren Buffet wrote about Mr. Market.
Buffet wrote: “Ben Graham, my friend also teacher . . . said that youre should imagine market quotations as coming from a remarkably accommodating fellow named Mr. Market who is your partner inside a private business. Without fail, Mr. Market appears daily also names a price at which he will either buy your interest or sell youre his.”
“Even though a businesses that a two of youre own may has economic characteristics that are stable, Mr. Market’s quotations will become anything but. For, sad to say, a poor fellow has incurable emotional problems.”
“At times he feels euphoric also can see only a favorable factors affecting a business. When inside that mood, he names a very high buy-sell price because he fears that youre will snap up his interest also rob him of imminent gains.”
“At another times he is depressed also can see nothing but trouble ahead for both a business also a world. On these occasions he will name a very low price, since he is terrified that youre will unload your interest on him . . .”
“If Mr. Market shows up some day inside a particularly foolish mood youre are free to either ignore him or to take advantage of him, but it will become disastrous if youre fall under his influence . . .”
“Following Ben’s teachings, Charlie also I let our marketable equities tell us by their operating results — not by their daily, or even yearly, price quotations — whether our investments are successful . . . As Ben said: ‘inside a short run, a market is a voting machine but inside a long run it is a weighing machine.'”
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inside letters inside 1985, 1987, 1995, etc, Warren Buffet also talked about a margin of safety. Let’s listen to his words of wisdom on a subject:
“What counts for most people inside investing is not how much they know, but rather how realistically they define what they don’t know. An investor needs to do very few things right as long as he or she avoids big mistakes . . .”
“Second, also equally important, Our insist on a margin of safety inside our purchase price. If Our calculate a value of a common stock to become only slightly higher than its price Our’re not interested inside buying. Our believe this margin-of-safety principle, so strongly emphasized by Ben Graham, to become a cornerstone of investment success.”
These are just two samples from a essays collected inside a book! Aspire To Money (TM) recommends getting a copy also reading it.
That book again is Lawrence Cunningham’s ESSAYS OF WARREN BUFFETT.
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