The book “The Warren Buffett Way” had a 21 week spell on the New York Times Hardcover Notification Bestseller list and sold over 1 million copies, when it first published. Overtime Warren Buffett has cemented his reputation as one of the greatest investor of our time – as he has become richer and more successful, amidst the chaotic market conditions.
The author, Robert Hagstrom, in his second edition “The Warren Buffet Way” did completely revised and updated this book, with the edition predominantly accessible as Buffett’s primary investment tenets, with presentation that’s illuminated with vital and updated instances.
The book provides great perspectives into the investment style of Warren Buffett and as such it is to a very large extent consciously written and vividly outlined. I should state here that for readers with low level of mathematical understanding, this book does not require a high mathematical level to get a footing of the principles outlined in a very clear manner, with illustrations that are based on Buffett’s own techniques and real stock /business purchases.
There is a slight biographical attribute to the book as well, which is quite useful to gain some deeper insights into Buffett and what has tinkered his thinking as well as motivated him along. This would definitely turn out to be one of the most accessible and useful investment books you’ll read about Warren Buffett.
The reader has to understand this before reading this book, Warren Buffett as an investor would always act differently in the stock mark than an average private investor. Having said that, there are some very basic principles to draw from in all of his decisions, which comes across attractively from the passionately intrigued author. He certainly quite freely epitomizes Buffett in a very sincere manner.
The strengths of this book is hinged on;
- The book’s core, which is brilliant in itself. For readers who have problem finding time to read through, the kernel of this book is chapter 4 to 8 which provides the basics of the “value” approach to investing. You can as well look at chapters 10 & 11, which deals with “managing portfolios” and “psychology of money”. It does parade a 2nd chapter, which deals with Buffett’s influences – neatly explaining the methods of the old boys from whom he learned.
- The illustrations in the book are worth the price of the book in themselves.
- The book’s appendix shows Berkshire’s holdings of a common stock, although it could have been gotten off the reports – but this is definitely a time saver.
About the Author Robert Hagstrom
The author, Robert Hagstrom works as a Portfolio Manager for the Legg Mason Growth Trust Mutual Fund (formerly known as Legg Mason Focus Trust). Robert also manages the growth Equity strategy for institutional investors, and served as President and CIO of Legg Mason Focus Capital. Prior to this, Robert Hagstrom was the General Partner at Focus Capital Advisory.
Our Review of The Warren Buffett Way
The book, The Warren Buffett Way has received quite some rave reviews, and we concur by adding to it that The Warren Buffett Way book is very informative, engaging and enlightening to read. In a recent article that shows the rating of 20 most significant business books, “The Warren Buffett Way” turned up as the only investment-based guide to make it on the list.
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