The Warren Buffett Way

Title: The Warren Buffett Way - Third Edition.

Author: Robert G. Hagstrom

Editor: John Wiley & Sons, Inc

Year: 2004 (Third Edition)

Year of first edition: 1994

Rating: 4,5 / 5

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Main topic: Warren Buffett case study.

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About The Author

Robert G. Hagstrom is one of the most known American authors of popular books on Financial Investments. He was the chief investment strategist of Legg Mason Investment Counsel, and before that the portfolio manager of the growth equity strategy at Legg Mason Capital Management where he managed over $ 7 billion in assets.

Hagstrom was the recipient of "Honorable Mention" as Morningstar's US Equity Manager of the Year in 2007 [1].

He has written nine books including this Bestseller.
A graduate of Villanova University, he works as a Chartered Financial Analyst.

Summary:

This book starts with the assumption that Exceptional Investors can beat the market through skill and Warren Buffett is the most concrete example of this.

When Robert Hagstrom first published The Warren Buffett Way in 1994, it quickly became a phenomenon, especially because any time the subject is Warren Buffett, it is easy to become overwhelmed by the achievement carried out by the famous entrepreneur.

If we look at what he does and has done, and are able to discern the underlying thinking, we can model our decisions on his.

The Author of this book closely studied Warren Buffett’s actions, words, and decisions for a number of years, with the aim of define principles that guided investment Management and Philosophy of this great entrepreneur. 

The result of this study is the definition of 12 principles that will guide the reader to diligent investment.

Thanks to this book, the reader will be able to:

  • think like a long-term investor,

  • give the right weight to loss aversion,

  • behave rationally in the face of ups and downs of the market,

  • better identify and hold the best stocks.

This new edition deserves to be read because it explains the psychological foundations of Buffett’s approach, thus giving readers the best roadmap yet for mastering both the principles and behaviors that have made Buffett the greatest investor of our generation.

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[1] Source: Wikipedia 

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