How Buffett does it: 24 Simple
investing Strategies from the world’s Greatest, Value Investor – James Pardoe
printed and copyrights @ TATA McGraw – Hill year 2005
About the author:
James Pardoe is the principal attorney
with Pardoe & Associates and one of today’s most knowledgeable followers of
Warren Buffett. He received his JD from Pepperdine
About Warren Edward Buffett:
Warren Edward Buffett is an
American business magnate, investor and philanthropist. He is the most
successful investor of the 20th century. Buffett is the chairman, CEO and
largest shareholder of Berkshire Hathaway, and consistently ranked among the
world's wealthiest people. He was ranked as the world's wealthiest person in
2008 and as the third wealthiest in 2015. In 2012 Time named Buffett one of the
world's most influential people.
How
Buffett does it is a step by step guidebook for investing like
buffett in any market environment.
My favourite Page in this book:
Page no. 28, chapter no. 4, Be Patient
Here are a few tips straight
from the Berkshire Hathaway play book.
- Head Charlie Mungo’s advice. Sit on your ass. Do not mistake activity for achievement. When it comes to investing, the opposite is true.
- Buy only stocks that you won’t trade for five years or more. When you buy a stock, pretend that the stock market will be closed for the next five years and you cannot sell the stock, forcing you to adopt a long-term outlook.
- Remember that “time is the friend of the wonderful business.” Do not check your investments every day or week; remember that all stocks go up and down. A better use of your time would be to keep and eye on business performance rather than on price performance.
A Small Note:
I have read this book in year
2008. I advise you to read this for MBA syllabus or else you can refer this
book for exams point of view.
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