The Warren Buffett Way, : Investment Strategies of the World's Greatest Investor
Author: Robert G. Hagstrom
List Price: $9.99
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ISBN: 0471177504
Publisher: John Wiley & Sons (March, 1997)
Sales Rank: 333
Average Customer Rating: 3.88 out of 5
Customer Reviews
Rating: 2 out of 5
A tedious read with very little practical application
First let me say that the low rating I'm giving does not reflect my opinion of Warren Buffett and his methods in general, but rather specifically this book by Hagstrom.I was quite disappointed by this book. It seems confused about whether it is an investment guide or historical narrative, and so fails to do an adequate job of either. (For a much more interesting account of Buffett's life and investments, read Roger Lowenstein's biography).
I was hoping this book would explain in specific detail HOW Buffett determines whether a company's shares are undervalued by the market and by how much. However I found that the few explanations in this book are too vague to be of any real practical application in analyzing companies and making investment decisions. The book spends more time detailing WHAT Buffett has invested in, as opposed to WHY. And more time discussing what happened to these companies AFTER Buffett had invested in them, rather than what specifically made them attractive to Buffett beforehand.
Maybe this would be a good enough book for someone to read as an introduction to Buffett, if it wasn't just so boring!
Rating: 4 out of 5
good introduction to value investing
I was fascinated when I first read this book. It was during my junior year in college when I struggled to comprehend vague ideas such as covariance between stocks, portfolio variance, beta, etc. This book opened my eyes. It was like a fresh breath of air.
Hagstrom does a good job at introducing Warren Buffet's way of investing. The book is a mandatory reading for everyone who wishes to invest money in stocks.
As other reviewers pointed out, Hagstrom doesn't reveal anything new about Buffet's investment style. You can find the same information, and much more, from the source: The Berkshire Hathaway Annual Reports. Hagstrom, however, offers a well-written and fairly accurate presentation of what can be found in Buffet's letters to shareholders. It is a good introduction to value investing.
Rating: 5 out of 5
Value Investing the Proletariat Way
After reading this book, I have seen the errors in my ways.
I have discovered that the only way to real power is becoming a day trader.At any rate, me and buddy Trotsky have founded a new investors club which meets at my crypt each Saturday.
Best of luck to my friends the Deaniacs.
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