The Buffettology Workbook: Value Investing The Warren Buffett Way

Book Description

Timeless Investing Strategies for Any Economy

For five decades, Warren Buffett has been making himself one of the wealthiest men in the world, amassing more than 30 billion dollars by investing in the stock market. Remarkably, he did it by spurning popular Wall Street trends, adhering instead to his own unique discipline, one the world has come to know as Buffettology. In The Buffettology Workbook, internationally acclaimed writer and lecturer Mary Buffett has again joined forces with David Clark, the world's leading authority on Warren Buffett's investment methods, to create an in-depth, step-by-step guide to the concepts and equations Warren Buffett uses to create fantastic wealth.

Here you will learn:

The difference between a great company and a great undervalued company
How the short-sightedness of Wall Street pundits can work to your advantage
Where to look for investments with long-term, consistent, and extraordinary growth potential
To perform the same financial calculations Buffett uses, and apply them to stocks you'd like to buy

Download Description

In the past eighteen months, investors have seen rapid, often intimidating changes in the stock market -- tech stocks have soared and crashed and assets that shifted away from traditional blue chip companies have quickly shifted back again. In spite of this volatility however, there has been one constant: Warren Buffet's value investing strategies make money. In Buffettology, Mary Buffett and David Clark unveiled the analysis techniques that made Warren Buffett the billionaire and investment icon he is today. Now in this companion workbook, the authors explain Buffett's system of business perspective investing, focusing on specific mathematical ratios and calculations. Written in clear, easy-to-understand language, The Buffettology Workbook offers everyone with or without an Internet connection all the tools they'll need to apply the same kind of value analysis to readily available financial data that Warren Buffett does. Whether the economy they're investing in is old or new, local or global, bull or bear, no investor can afford to miss these invaluable lessons from the world's best.

Customer Reviews:

Buffettology Lite.......2006-11-05

For those of you that are time-pressed, this is the best book in the Buffettology Series to read in order to glean a few secrets on the investment techniques of the Oracle of Omaha. The workbook covers both the qualitative and quantitative sides of Buffett's value investing approach, and provides the basic techniques one can implement in order to invest with a reasonable amount of success.

The workbook is not exactly the best book on investing that I have read (that title goes to Benjamin Graham's The Intelligent Investor), but in its defense, it does provide a simple to implement investment strategy. Most of the techniques hinge on a few simple ratios and knowledge of simple present and future worth. Additionally, most of the limitations associated with the techniques are clearly and simply stated.

The book has several merits. The chief merit of the book is that its approach to investing is self-contained, and emphasizes the qualitative aspects more than the quantitative aspects. In passing, readers that focus more on Part One of the book and skip Part Two, the quantitative part, could easily obtain a dramatic improvement in their investment results. Written in simple, easy to understand language, the target audience of this book is most likely that individual who depends on the Internet for all of her information on companies, as such sites as Yahoo, MSN and Value Line are routinely cited in the text as sources of information. The book is very well organized, quite possibly with the idea that it would fit the mold of a chapter-a-day format. Most chapters are usually no more than five pages long, with easy, cheesy word problems and true/false questions at the end of most every chapter to reinforce key concepts. The title of each chapter basically states the key concept to be learned, and key points are highlighted at the end of each chapter. Although it provides some theory and rationale for the techniques it attempts to teach, this is kept to a minimum, and the book focuses almost exclusively on application of the techniques. Those readers that are only interested in the methodology can simply skip to the 22nd Chapter titled 'Doing It Yourself: Buffettology Worksheet'. Thus, the book makes every effort to make learning, and ultimately using, the techniques as painless as possible.

The major demerit of this book rests in its insistence on doing all calculations on a per-share basis. But then, this is how much of the information that is easily obtainable through such channels as Value Line and other sources is presented. One minor demerit is that the authors do not seem to be aware of the virtual ubiquity of MS Office, making it possible to perform all of the calculations in the book in one Excel spreadsheet, but then again, this is a minor demerit. Although there were a number of minor typographical and mathematical errors in the book, I am willing to overlook this, as the thinking and reasoning behind any investment proposition is more important, and is clearly presented throughout the book.

Overall, I rate the book to be worthy of reading. It presents a simple and straightforward investment approach, and does not require an advanced degree in rocket science to implement it. All it really requires is a basic understanding of fractions, decimals and percents, and most important, a willingness to think and reason through the investment proposition. However, those of you with strong quantitative backgrounds will be very dismayed with this book (as I was initially), but as I said before, if you focus exclusively on Part One of the book and Chapter 22, then you will see a dramatic improvement in your investment results going forward.

Great book if you have read The New Buffettology.......2004-05-14

This is a good book and it is an even better book if it is used with their other book entitled The New Buffettology - which is better than the first edition entitled just Buffettology. In regard to the reader from TX Buffett uses growth of book value to determine the relative performance of Berkshire Hathaway - just check out the annual report. And Buffett is on record saying that a company is worth its future income stream discounted to present value - though Charlie Munger and I have never seen him do it. This was brought up at the 2001 Berkshire annual meeting. As far Ben Graham is concern Buffett and Munger are both on record saying that they no longer use the Graham's method - still worth the read though. Tim Vick, who wrote "Wall Street on Sale", loves the Buffettology series so much he wrote the cover recommendation. Check it out! And get on the program! You won't be sorry you did!!!

Buffett Does NOT Follow The Techniques In This Book.......2004-03-13

This is one of the worst investing books I have ever seen. Not only does it have absolutely nothing to do with the way Warren Buffett actually invests, it completely makes up investing methods.

For instance, the book talks about discounting future streams of income. The Oracle of Omaha was quoted at a Berkshire Hathaway meeting as saying he NEVER uses discount future cash flow.

Even worse, this book promotes "book value growth" as a method for evaluating a stock's worth. Book value is an accounting term representing the net equity for a firm on ONE PARTICULAR DAY IN TIME. Change the date of the balance sheet and the value calculated by book value growth may change dramatically.

If you want to invest like Warren Buffett, check out The Intelligent Investor by Benjamin Graham.

An excellent tool for the individual investor..........2003-07-06

Written by Mary Buffett, former daughter-in-law of Warren Buffett, and David Clark, a portfolio manager, "The Buffettology Workbook" is the best investment I've ever made. The financial formulas you'll find in this book are all the ones they should teach in business school, but don't.

The book is broken down into 23 chapters, each no more than a few pages, so you can read a chapter a day (and continue to review the chapters for the rest of your investing career). The first seven chapters give a breakdown of Warren's investment philosophy, value investing. Here, you learn about the short-sightedness of the market and the bad news phenomenon. Also, the authors identify the difference between commodity-type businesses and consumer monopolies, and tell you why it's far better to own consumer monopolies. Once you understand these concepts, you're halfway toward success as an investor. Now, you need to learn how to identify the correct buying opportunity. That's where the true value of this book comes into play, offering formulas and equations you won't find most books.

The remaining chapters in the book focus on the examination of financial statements, the acquisition of pertinent information (what's important and what's not), then they tell you how determine an investment's desirability. You'll learn the value of high rates of return on shareholder equity, how to measure management's ability to utilize retained earnings, and Warren's ideas for the Internet and short-term arbitrage commitments.

I read this book beginning to end the day I got it, but I'll continue to familiarize myself with its formulas for the rest of my investing career. Although it marks only the beginning of one's investment knowledge, learning these bedrock principles are what separate successful investors from mere average ones... Buy this book!

Britt Gillette
Author of "Conquest of Paradise: An End-Times Nano-Thriller"

I loved this book.......2001-07-12

This is a great book if you are really into Warren Buffett. If you aren't try one of the easier books. It is designed to walk you step by step through how to identify a Buffett type investment. It has a work sheet in it that I've made a standard in my investment program. It's already making me money. Your money is well spent here.

Book Description

This monograph is based on qualitative and inductive research. All the cases treated in it are based on current events and try to find the common aspects and basic rules that govern the wrongdoing to the minority shareholders. In the four cases of US, French and Israeli companies, most of them in high tech, the minority shareholders lose almost all their investment. Those are not pervert cases but the norm in many companies, which is illustrated by qualitative cases, without being able of course to quantify them. Case studies are the preferred strategy when "how" and "why" questions are being posed. The purpose of this monograph is therefore to analyze why and how companies do not act ethically towards their minority shareholders, not how many, not which, not to what degree and not where.

Book Description

Successful real estate investors and entrepreneurs who've spent countless hours building wealth often see their profits dwindle due to an IRS hitch or other legal snag. After working so hard to be prosperous, investors need to know how to hang on and preserve their wealth. In a clear, methodical, and accessible way, Wealth Protection Secrets of a Millionaire Real Estate Investor outlines the steps and techniques to safeguard investments.

Until now, William Bronchick's wealth protection secrets have been available only to attendees of his powerful seminars, who have consistently praised his cutting-edge, concise, money-saving advice. In Wealth Protection Secrets of a Millionaire Real Estate Investor, Bronchick shares his proven methods, including how to:

* Use trusts for asset protection and tax savings.

* Hire family members for tax deductions.

* Create a paper trail to help during a lawsuit or IRS audit.

* Defer income tax payments without a penalty.

* Slash taxes through the use of corporate entities.

* Gain protection from financial ruin in a divorce.

* Understand the ""secrets"" of life insurance to minimize costs and financial risks.

Also included are sample asset protection plans that can be easily modified. Smart real estate investors and successful entrepreneurs will get an indispensable collection of some of the best ethical and legitimate tactics for maximum wealth protection.

Customer Reviews:

Not overly useful.......2007-03-26

I bought the book because the reviews were good but I was very disappointed with the book because it doesn't really cover anything you couldn't just find on the Internet. Each topic is covered in like 2 paragraphs. There is not much substance in this book.

I ain't saying you a gold digger but..........2006-01-16

People only sue other people who have money! This book touches on the important ABCs on avoiding lawsuits, avoid standing out in the broke crowd, and holding assets in anything but your own name without losing control of them. There is a very enlightening section on Life Insurance that was worth every penny in itself. This taps into Land Trusts but for a complete package I found it with Land Trusts by Louis Brown (just be prepared to pay serious $$)because this topic doesn't come easy to me. Never-the-less, this is the book for you if you're ready to protect your ass-ets.

Great Starter Book for Asset Protection.......2005-04-14

On my first reading of this book, I said, "Huh?" Then, I attended a corporation seminar. Both the seminar and Bronchick's book were instrumental in formation of my expertise in the use of corporations for asset protection for my real estate business. Admittedly, this book is light on details, but the diagrams and examples provided more than make up for that. Besides, you should seek professional advice anyway in addition to this material.

This book is a goldmine for the entrepreneur. Not only is the advice great for those of us in small business, but the material is a rich source of pratical ideas you can apply to your operation.

Plain English explanations of complicated subjects.......2003-12-01

Once again, Mr. Bronchick does an excellent job of taking complicated legal subjects and making them readable for the average person. I am an attorney as well, and I often recommend this book for clients to read as a primer to the subject (especially when I tell them what it will cost for an hour of my time to explain it!). There are a few books on the market on asset protection, but this is the only one that is geared towards the landlord or small-time real estate investor. One caveat for the reader- there are some sample forms in the appendix, but they appear to be for example only. One should always review these concepts with an attorney to make sure the forms are drafted to comply with the client's specific needs and appropriate state law.

Easy to read, good overview of the topic.......2003-09-19

This book was very reasy to read, considering the magnitude of the subject matter. Short, but to the point on a variety of topics involving real estate and small business liabilities. I particularly liked the sample asset protection plans laid out in detailed diagrams. The book also covered a lot of things NOT to do, such as "trust scams". There's quite a few legal forms in the appendix, but not enough information on how to fill them out and use them. For my purposes, however, the book gave me what I needed, which is a bird's-eye view and the background knowledge to visit with an attorney to implement the strategies. Anyone who expects a book give them 100% of the information necessary to draft complex legal documents involving all their assets needs a reality check.

Sustainable Freshwater Aquaculture: The Complete Guide from Backyard to Investor

Average customer rating:

Good enjoyable reading about aquaculture

Sustainable Freshwater Aquaculture: The Complete Guide from Backyard to Investor
Nick Romanowski
Manufacturer: UNSW Press
ProductGroup: Book
Binding: Paperback

Conservation | Environment | Outdoors & Nature | Subjects | Books

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ASIN: 0868408352

Book Description

Sustainable Freshwater Aquaculture is the most complete, accessible and affordable guide to freshwater aquaculture in Australia, emphasizing sustainable use of all resources: whether it be on a small scale in a backyard pond, or in commercial production on broad acres. The book includes detailed information from design and construction of ponds to water quality, enhancing production through aeration, filtration and water treatment wetlands, foods and feeding, breeding and propagating aquatic animals and plants, sources of stock and polyculture (mixing fish, crustaceans, other animals, and plants for greater yields). It even offers information on learning the basics of aquaculture through the keeping and breeding of aquarium fish. And across all its wide-ranging explanation and discussion, the book retains its focus on two key themes: sustainability and profitability. Sustainable Freshwater Aquaculture is a beautifully illustrated book that contains over 80 color photos and some ten black-line drawings.

Customer Reviews:

Good enjoyable reading about aquaculture.......2007-09-03

This book is a basic guide to the beginner in the field and anyone just thinking to set up own pond.
To my view the weak part of this book is that it is way too general to make final decission based on information in this book. It could have been going in each chapter into more detail, examples etc.
What makes it good for reading is wery good structure of chapters, which lets anyone starting to think about aquaculture to capture the full range of aquacultures available. There are many usefull tips ranging from what to choose, what to check, what to avoid prior taking the shovel in hand and here I found it inspiring and usefull.
Written in easy language I found it a fine, joy reading.

Investor Protection and Corporate Governance: Firm-level Evidence Across Latin America (Latin American Development Forum) (Latin American Development Forum)

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Investor Protection and Corporate Governance: Firm-level Evidence Across Latin America (Latin American Development Forum) (Latin American Development Forum)

Manufacturer: World Bank Publications
ProductGroup: Book
Binding: Paperback

Economic Conditions | Economics | Business & Investing | Subjects | Books

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ASIN: 082136913X

Product Description

Investor Protection and Corporate Governance analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level - the first such data in the region - and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance measures. The book's analysis reveals the very high levels of ownership and voting rights concentrations and monolithic governance structures in the largest samples of Latin American companies up to now, and new data emphasize the importance of specific characteristics of the investor protection regimes in several Latin American countries. By and large, those firms with better governance measures across several dimensions are granted higher valuations and thus lower cost of capital. This title will be useful to researchers, policy makers, government officials, and other professionals involved in corporate governance, economic policy, and business finance, law, and management.

Taxes, Estate Planning, and Asset Protection (Secrets of the Great Investors)

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Taxes, Estate Planning, and Asset Protection (Secrets of the Great Investors)
Vernon K. Jacobs , and Michael Ketcher
Manufacturer: Blackstone Audio Inc.
ProductGroup: Book
Binding: Audio CD

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ASIN: 0786164980

Product Description

Any good financial plan must address how to preserve what you earn. Though tax law and inheritance laws constantly change, this presentation will give you a clear big picture on the basic pitfalls and opportunities in this potentially complicated (yet vital) area of financial planning.

The Secrets of the Great Investors series is a collection of presentations that explain, in understandable language, the strategies, tactics, and principles that have produced great wealth, and how you can improve your financial future. History's greatest investors used powerful investing philosophies to produce superior results, and you can learn from their successes and mistakes.

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Asset Management and Investor Protection: An International Analysis (Economics & Finance)
Julian Franks , Colin Mayer , and Luis Correia da Silva
Manufacturer: Oxford University Press, USA
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books
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ASIN: 0199257094

Book Description

Asset management is a major industry playing an increasingly important role in economic activity around the world. Traditionally, it has been primarily associated with the 'stock market' economies of the UK and the USA, but as this book shows some of the most spectacular growth in activity of
recent years has occurred in continental Europe. This has presented opportunities and challenges. New forms of financial instruments and institutions have emerged in countries that have traditionally relied on debt and non-market forms of intermediation. Competition has intensified and entry has
occurred both within and across national markets. However, this growth has been accompanied by potential problems; will investors enjoy a wider range of products and services, they face more complex instruments and transactions. Therefore, the potential for failures, such as misdealing and fraud,
may have increased. The natural response is to strengthen regulation, but there is a fine balance to be struck between in adequate and excessive regulation of asset managers. This is particularly complicated in the context of European capital markets. European countries have traditionally had very
different financial systems and asset management businesses, therefore it is no surprise to discover that they have many different approaches to regulating asset managers. How should the European Commission respond to this diversity? Should it seek to create greater uniformity via common regulatory
rules? The particular focus of this book is financial resource requirements. There is currently an active debate about the role which capital requirements should play in asset management, particularly in the European context. In order to address this issue, the authors argue that it is necessary to
understand the nature of the asset management business in different countries and the risks that it faces. They therefore discuss how the asset management business operates; how it is organized; the nature and size of risks in the business, who bears them and ho they are financed; and what the
alternative forms of investor protection are, together with their associated costs and benefits.

Investor Protection in Europe: Regulatory Competition and Harmonization

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Investor Protection in Europe: Regulatory Competition and Harmonization

Manufacturer: Oxford University Press, USA
ProductGroup: Book
Binding: Hardcover

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Building an EU Securities Market

ASIN: 0199202915

Book Description

This collection of essays examines investor protection in Europe. It offers a broad and coherent examination of the effects of regulatory competition versus harmonization, and covers both capital market and company law perspectives. Including coverage of both the EU and the US, this volume
analyses the recent Markets in Financial Instruments European Directive, and explores clearing, settlement, prospectuses, and transparency regulation.

Corporate Governance Post-Sarbanes-Oxley: Regulations, Requirements, and Integrated Processes

Average customer rating:

Extremely well-written, detailed, and helpful
Comprehensive and up-to-date

Corporate Governance Post-Sarbanes-Oxley: Regulations, Requirements, and Integrated Processes
Zabihollah Rezaee
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

General | Business & Investing | Subjects | Books

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ASIN: 0471723185

Book Description

Corporate Governance Post Sarbanes-Oxley introduces a corporate governance structure consisting of seven interrelated mechanisms of oversight: managerial, compliance, audit, advisory, assurance, and monitoring. The book begins with a discussion of the new requirements for corporate governance and financial reporting brought about by Sarbanes-Oxley and then shows how a well-balanced functioning of the seven mechanisms produces a responsible corporate governance structure that ensures quality financial reporting and credible audit services. Each chapter includes checklists, real-world case studies, and best practice tips.

Customer Reviews:

Extremely well-written, detailed, and helpful.......2007-09-19

I used CGPSO as my primary source for a article I wrote about corporate scandal. I found everything I needed about all the issues affecting responsible business practices post-SOX. Very detailed, full of examples and helpful lists. This one is also good: Financial Statement Fraud: Prevention and Detection

Comprehensive and up-to-date.......2007-08-16

This book provides the most comprehensive and up-to-date coverage of corporate governance and investor protection since the passage of the Sarbanes-Oxley Act of 2002. It is saturated with overviews and details that anyone with even the slightest interest in corporate governance and public companies should enjoy. This would be a great reference for a course or seminar on the subject, and is a must-have for corporate executives, directors, auditors, investors, and accountants.

Stand Up to Your Stockbroker: Your Rights As an Investor

Average customer rating:

Outstanding!

Stand Up to Your Stockbroker: Your Rights As an Investor
Sanford S. Kantor , and Joel H. Bernstein
Manufacturer: Consumer Reports Books
ProductGroup: Book
Binding: Hardcover

Public Finance | Economics | Business & Investing | Subjects | Books

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ASIN: 089043347X

Customer Reviews:

Outstanding!.......2002-07-27

Great book, great advice. I highly recomend it!

After Sarbanes-Oxley: Where have all the director candidates gone? : An article from: Directorship

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After Sarbanes-Oxley: Where have all the director candidates gone? : An article from: Directorship
Sheli Z Rosenberg
Manufacturer: Directorship, Inc.
ProductGroup: Book
Binding: Digital
ASIN: B000BE7ZQC
Release Date: 2005-09-13

Disclose and Let the Market Decide : An article from: Directorship

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Disclose and Let the Market Decide : An article from: Directorship

Manufacturer: ProQuest Information and Learning
ProductGroup: Book
Binding: Digital
ASIN: B000FUFAHS
Release Date: 2006-05-24

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