I cannot imagine anyone reading this book and not immediately becoming a disciple of Warren Buffett. In a way, Lowenstein's biography reads like a legend - Buffett is the messiah of capitalism. Imagine having an average return on investments of 29% for one solitary year. Now imagine making that same average return for 40 years! Finally, throw out any notion that making such massive amounts of money was done deceitfully or immorally. Lowenstein helps us see Buffett not as somebody who has stolen wealth away from the masses (because if anything, he's created wealth for the masses), but as an investor - someone who recognizes value and buys into that value. It's what we do when we buy stocks or fall in love (is not love simply a statment of value?): we make investments.
Lowenstein's portrait shows us of a man who has made billions by making rational and morally correct decisions. Yes, it would seem that Buffett has an ingenious ability to understand the capital markets, but even excluding his knack for money, the bottom line which Lowenstein draws is that Warren Buffett is an avatar for human beings. This is not to say that Buffett is perfect, but we would be hardpressed to find such strength of chracter and mind in another human being. How many billionaires live in the same house they've lived in for 30 years? How many CEOs tell their shareholders that they get to decide where to the company should make its charitable donations?
Buffett stands very much as a symbol of Capitalism as an ideal, and Lowenstein paints a portrait of Buffett that beautifully illustrates a life lived under such righteous principal. As such, if you disagree with capitalistic ideals, DO NOT READ THIS BOOK!
Otherwise, maybe you'll be like me and find in Buffett an unlikely hero.
It's especially puzzling that despite being a nerd, Buffett easily charms many of his class mates and others with whom he interacts. These skills were wildly successful as he went out seeking capital to launch his partnership.
I have read this book a few times, and recently took to underlining the most interesting anecdotes passages and Buffettisms. After recently finishing the book, I realized that I had practically highlighted each sentence. There are many gems within to be comptemplated
If you REALLY want to understand Buffett, ignore the "Invest Like Buffett" books out there (and there are a bunch). It is a lot more worthwhile to learn about the man, and especially his principles. This book in conjunction with his annual letters to his partners / shareholders is the best method by which a student can truly learn from the Oracle of Omaha.