Title: The Tao of Warren Buffett
Authors: Mary Buffett and David Clark
Publisher: Scribner, 2006
In the hope to appreciate the wisdom and strategies behind Warren Buffett's investment achievements, I readily borrowed this book, The Tao of Warren Buffett, when I came across it at one of the public libraries.
In summary, Warren Buffett's strategies are pretty down-to-earth, practical, and disciplined. From my reading of this book, I have learnt that Buffett's key strategy to value investment is as such: Invest in and buy "businesses with good-to-superb underlying economics run by honest and able people and buy them at sensible prices". While this may seem simple, it also requires patience, doing good homework, understanding financial statements and being disciplined.
In this book, I also learnt about the reasons why Warren Buffett think it is not necessary to diversify one's investments. He seems to be famous for concentrating his investments on companies that he thinks have good business economics and fair prices.
This is an accessible book that is fairly easy to read and understand. Great wisdom presented with simplicity.
2 comments:
You are now into investments? It's good to plan for your retirement years and make your money work for you. :)
EastCoastLife: Thank you for visiting. I am actually at the stage of learning through reading...one step at a time. Maybe I have to learn from you as well?
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