{"product_id":"buffetts-tips-isbn-9781119763918","title":"Buffett's Tips","description":"\u003cp\u003e\u003cb\u003eWhat if you could learn financial literacy from Warren Buffett himself?\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinance is a language like any other: the more fluently you speak it, the further—and more comfortably—you travel. And if you want to improve your financial literacy, what better teacher could you have than Warren Buffett? Often described as the greatest investor of all time, Warren Buffett started his investment firm with$100 in the late 1950s and went on to become the billionaire and sage we know today. Along the way he's reaped huge profits for fellow investors in Berkshire Hathaway and remains one of the most sought-after and closely watched figures in the business world.\u003c\/p\u003e \u003cp\u003eSo how did he do it? In \u003ci\u003eBuffett's Tips\u003c\/i\u003e, award-winning professor and professional investor John M. Longo demonstrates just how by translating decades of Buffett's writings and media appearances into a 100 straightforward tips and strategies anyone can follow for enhanced financial literacy and independence, including:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eEssential concepts like the time value of money and compound interest\u003c\/li\u003e \u003cli\u003eBasic financial instruments, such as savings and checking accounts and certificates of deposit\u003c\/li\u003e \u003cli\u003eApproaches to valuing stock, including discounted cash flow and relative valuation\u003c\/li\u003e \u003cli\u003eHow to build a portfolio in accordance with Buffett's two golden rules\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eWhether you want to grow your personal finances, develop your business acumen, or improve softer career skills such as emotional intelligence, there's no one better to learn from than the most famous investor in the world—and no better way to do that than having a copy of \u003ci\u003eBuffett's Tips\u003c\/i\u003e close at hand.\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003eAcknowledgments xix\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: Who Is Warren Buffett? 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 1\u003c\/p\u003e \u003cp\u003eBuffett the Teen 2\u003c\/p\u003e \u003cp\u003eWho Are We to Write This Book? 3\u003c\/p\u003e \u003cp\u003eWhat Is Financial Literacy and Why Does It Matter? 4\u003c\/p\u003e \u003cp\u003eSome Fundamental Buffett \"Tips\" 5\u003c\/p\u003e \u003cp\u003eBuffett's Work Ethic 7\u003c\/p\u003e \u003cp\u003eBuffett Has Spent a Lifetime Learning 8\u003c\/p\u003e \u003cp\u003eWhy Is Buffett Happy? 10\u003c\/p\u003e \u003cp\u003eImprove Your Communication Skills and See Your Lifetime Earnings Increase 50% 12\u003c\/p\u003e \u003cp\u003eActing with Integrity Is the Right Thing to Do and Good for Business 13\u003c\/p\u003e \u003cp\u003eBuy Low, Sell High 14\u003c\/p\u003e \u003cp\u003eBuffett Doesn't Succumb to Peer Pressure: The Inner Scorecard 15\u003c\/p\u003e \u003cp\u003eBuffett's Fallback Career—Comedian 17\u003c\/p\u003e \u003cp\u003eBuffett's Lasting Legacy: Philanthropy 18\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 1 19\u003c\/p\u003e \u003cp\u003eReferences 20\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: Investment Fundamentals According to Buffett 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 23\u003c\/p\u003e \u003cp\u003eThe \"Miracle of Compound Interest\" Explained 24\u003c\/p\u003e \u003cp\u003eTrade-Offs: A Fundamental Principle of Life 27\u003c\/p\u003e \u003cp\u003eThe Saint Petersburg Paradox: A Lesson on Risk and Return 29\u003c\/p\u003e \u003cp\u003eRisk and Return: The Evidence 30\u003c\/p\u003e \u003cp\u003eDiversification: One of the Few Free Lunches in Life 32\u003c\/p\u003e \u003cp\u003eSupply and Demand Determine Price 33\u003c\/p\u003e \u003cp\u003eSummary on Financial Fundamentals 35\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 2 36\u003c\/p\u003e \u003cp\u003eReferences 36\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Bank Accounts, Debit Cards, Credit Cards, and Your Credit Score 38\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 38\u003c\/p\u003e \u003cp\u003eInsured Bank Deposits 38\u003c\/p\u003e \u003cp\u003eSavings Accounts and Certificates of Deposit (CD) 40\u003c\/p\u003e \u003cp\u003eChecking Accounts and Electronic Bill Payment 42\u003c\/p\u003e \u003cp\u003eParts of a Check 43\u003c\/p\u003e \u003cp\u003eBalancing a Checkbook 44\u003c\/p\u003e \u003cp\u003eDebit Cards and Automated Teller Machines (ATM) 45\u003c\/p\u003e \u003cp\u003eCredit Cards and Charge Cards 46\u003c\/p\u003e \u003cp\u003eApps to Send Money: PayPal, Venmo, Zelle, Apple Pay, Android Pay, and so forth 49\u003c\/p\u003e \u003cp\u003eYour Credit Score: A Report Card of Your Financial Responsibility 50\u003c\/p\u003e \u003cp\u003ePersonal Bankruptcy: Try to Avoid at all Costs 52\u003c\/p\u003e \u003cp\u003eA Word on Bitcoin from Buffett 53\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 3 56\u003c\/p\u003e \u003cp\u003eReferences 56\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Bonds and Inflation 58\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 58\u003c\/p\u003e \u003cp\u003eUS Savings Bonds 59\u003c\/p\u003e \u003cp\u003eOther US Treasury Fixed Income Securities 60\u003c\/p\u003e \u003cp\u003eInflation and the Consumer Price Index (CPI) 62\u003c\/p\u003e \u003cp\u003eBond Ratings and Corporate Bankruptcy 63\u003c\/p\u003e \u003cp\u003eCorporate Bonds, Municipal Bonds, and Bowie Bonds 65\u003c\/p\u003e \u003cp\u003eBowie Bonds and Other Asset-Backed Securities 66\u003c\/p\u003e \u003cp\u003eThe Federal Reserve: The Central Bank of the United States 67\u003c\/p\u003e \u003cp\u003eWhat Determines Interest Rates? 69\u003c\/p\u003e \u003cp\u003eIntuition on Estimating the Price of a Bond 70\u003c\/p\u003e \u003cp\u003eSo Are Bonds Good Investments? 72\u003c\/p\u003e \u003cp\u003eA Note on Negative Bond Yields 73\u003c\/p\u003e \u003cp\u003eAppendix: Bond Valuation 74\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 4 75\u003c\/p\u003e \u003cp\u003eReferences 75\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: Stock Market Fundamentals 77\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 77\u003c\/p\u003e \u003cp\u003eInitial Public Offerings (IPOs): The Birth of a Stock 78\u003c\/p\u003e \u003cp\u003eInvestment Banks and Investment Bankers 78\u003c\/p\u003e \u003cp\u003eThe Main Event: The Stock Begins Trading on the Exchange 80\u003c\/p\u003e \u003cp\u003eThe Stock Exchange 81\u003c\/p\u003e \u003cp\u003eA Sidebar on Stock and Mutual Fund Symbols 83\u003c\/p\u003e \u003cp\u003eDividends 84\u003c\/p\u003e \u003cp\u003eLarge Cap vs. Small Cap 87\u003c\/p\u003e \u003cp\u003eGrowth vs. Value 88\u003c\/p\u003e \u003cp\u003eDomestic vs. International 90\u003c\/p\u003e \u003cp\u003eAn Index Fund: A Great \"Set It and Forget It\" Long-Run Investment 91\u003c\/p\u003e \u003cp\u003eBeating the Market and the Efficient Market Hypothesis 92\u003c\/p\u003e \u003cp\u003eMeet Mr. Market, the Manic-Depressive Stock Market 94\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 5 96\u003c\/p\u003e \u003cp\u003eAppendix: Selling Short (or the \"Don't Try This at Home\" Area of Investing) 96\u003c\/p\u003e \u003cp\u003eReferences 98\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: Buffett's Approach to Stocks 100\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 100\u003c\/p\u003e \u003cp\u003eEstimating the Value of a Stock 101\u003c\/p\u003e \u003cp\u003eGetting a Price Target with the Discounted Cash Flow Model 101\u003c\/p\u003e \u003cp\u003eGetting a Price Target with the Wall Street P\/E Model 103\u003c\/p\u003e \u003cp\u003eBuffett's Approach to Stocks 105\u003c\/p\u003e \u003cp\u003eGetting into the Buffett Mindset on Investing 105\u003c\/p\u003e \u003cp\u003eStay within Your Circle of Competence 106\u003c\/p\u003e \u003cp\u003eThe Importance of Being Patient 107\u003c\/p\u003e \u003cp\u003eGood vs. Bad Companies and the Passage of Time 107\u003c\/p\u003e \u003cp\u003eHow Buffett Thinks About Change in an Industry 109\u003c\/p\u003e \u003cp\u003eTypes of Businesses Buffett Likes 110\u003c\/p\u003e \u003cp\u003eDemonstrated Consistent Earnings Power 111\u003c\/p\u003e \u003cp\u003eLook for Companies with Good Management 112\u003c\/p\u003e \u003cp\u003eBuy Companies That Have the Power to Overcome Inflation 113\u003c\/p\u003e \u003cp\u003eFocus on Firms with Favorable Long-Term Prospects 115\u003c\/p\u003e \u003cp\u003eWhen to Sell 117\u003c\/p\u003e \u003cp\u003eSummarizing Buffett's Approach 118\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 6 119\u003c\/p\u003e \u003cp\u003eReferences 120\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: Accounting Fundamentals: The Report Card for Businesses 122\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 122\u003c\/p\u003e \u003cp\u003eThe Income Statement: A Company's Report Card for One Period 124\u003c\/p\u003e \u003cp\u003eApple's Income Statement 125\u003c\/p\u003e \u003cp\u003eThe Balance Sheet: A Picture of a Company's Report Card Since Inception 129\u003c\/p\u003e \u003cp\u003eCurrent Assets 131\u003c\/p\u003e \u003cp\u003eLong-Term Assets 132\u003c\/p\u003e \u003cp\u003eLiabilities 134\u003c\/p\u003e \u003cp\u003eCurrent Liabilities 134\u003c\/p\u003e \u003cp\u003eLong-Term Liabilities 134\u003c\/p\u003e \u003cp\u003eStockholders' Equity 135\u003c\/p\u003e \u003cp\u003eA Quick Note on the Statement of Cash Flows 137\u003c\/p\u003e \u003cp\u003eSummary 138\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 7 139\u003c\/p\u003e \u003cp\u003eReferences 139\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Buffett's Approach to Portfolio and Risk Management 141\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 141\u003c\/p\u003e \u003cp\u003eThe Key to Selecting a Well-Diversified Portfolio: Correlation 142\u003c\/p\u003e \u003cp\u003eA (Theoretical) Portfolio with No Risk 143\u003c\/p\u003e \u003cp\u003eSelecting an Optimal Diversified Portfolio: The \"Business School\" Approach 144\u003c\/p\u003e \u003cp\u003eBuffett's First Approach to Portfolio Selection: Index Funds 147\u003c\/p\u003e \u003cp\u003eBuffett's Second Approach to Portfolio Selection: Expert Mode 147\u003c\/p\u003e \u003cp\u003eA Compromise Solution to Portfolio Selection 149\u003c\/p\u003e \u003cp\u003eHow Many Stocks Make a Diversified Portfolio? 150\u003c\/p\u003e \u003cp\u003eThe \"Business School\" Approach to Risk 151\u003c\/p\u003e \u003cp\u003eBuffett's Critique of the Business School Approach to Risk 153\u003c\/p\u003e \u003cp\u003eBuffett's Approach to Risk 154\u003c\/p\u003e \u003cp\u003eBuffett on Gold 155\u003c\/p\u003e \u003cp\u003eSummarizing Buffett's Views on Risk 157\u003c\/p\u003e \u003cp\u003eEndnote on CAPM 157\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 8 158\u003c\/p\u003e \u003cp\u003eReferences 158\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: Business 101: Companies You Should Know 160\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 160\u003c\/p\u003e \u003cp\u003eThe Dow Jones Industrial Average: The Oldest Diversified US Stock Market Index 161\u003c\/p\u003e \u003cp\u003eHow the Dow Is Calculated 162\u003c\/p\u003e \u003cp\u003eAn Explanation of Stock Splits 164\u003c\/p\u003e \u003cp\u003eDifferent Share Classes and Buffett on Stock Splits 166\u003c\/p\u003e \u003cp\u003eCurrent Stocks in the Dow Jones Industrial Average 167\u003c\/p\u003e \u003cp\u003eMaterials Stocks in the Dow 168\u003c\/p\u003e \u003cp\u003eChevron (NYSE: CVX) 168\u003c\/p\u003e \u003cp\u003eDow Chemical (NYSE: DOW) 168\u003c\/p\u003e \u003cp\u003eConsumer and Business Services Stocks in the Dow 169\u003c\/p\u003e \u003cp\u003eHome Depot (NYSE: HD) 169\u003c\/p\u003e \u003cp\u003eMcDonald's (NYSE: MCD) 169\u003c\/p\u003e \u003cp\u003eWalmart (NYSE: WMT) 170\u003c\/p\u003e \u003cp\u003eConsumer Goods Stocks in the Dow 170\u003c\/p\u003e \u003cp\u003eApple (NASDAQ: AAPL) 171\u003c\/p\u003e \u003cp\u003eCoca-Cola (NYSE: KO) 171\u003c\/p\u003e \u003cp\u003eNike (NYSE: NKE) 172\u003c\/p\u003e \u003cp\u003eProcter \u0026amp; Gamble (NYSE: PG) 173\u003c\/p\u003e \u003cp\u003eWalgreens Boots Alliance (NASDAQ: WBA) 173\u003c\/p\u003e \u003cp\u003eWalt Disney (NYSE: DIS) 173\u003c\/p\u003e \u003cp\u003eFinancial Stocks in the Dow 173\u003c\/p\u003e \u003cp\u003eAmerican Express (NYSE: AXP) 174\u003c\/p\u003e \u003cp\u003eGoldman Sachs (NYSE: GS) 174\u003c\/p\u003e \u003cp\u003eJPMorgan Chase \u0026amp; Co. (NYSE: JPM) 174\u003c\/p\u003e \u003cp\u003eTravelers (NYSE: TRV) 175\u003c\/p\u003e \u003cp\u003eVisa (NYSE: V) 175\u003c\/p\u003e \u003cp\u003eHealth Care Stocks in the Dow 175\u003c\/p\u003e \u003cp\u003eAmgen (NASDAQ: AMGN) 175\u003c\/p\u003e \u003cp\u003eJohnson \u0026amp; Johnson (NYSE: JNJ) 176\u003c\/p\u003e \u003cp\u003eMerck \u0026amp; Co. (NYSE: MRK) 176\u003c\/p\u003e \u003cp\u003eUnitedHealth Group (NYSE: UNH) 176\u003c\/p\u003e \u003cp\u003eIndustrial Goods Stocks in the Dow 177\u003c\/p\u003e \u003cp\u003eBoeing (NYSE: BA) 177\u003c\/p\u003e \u003cp\u003eCaterpillar (NYSE: CAT) 177\u003c\/p\u003e \u003cp\u003eHoneywell (NYSE: HON) 177\u003c\/p\u003e \u003cp\u003e3M Company (NYSE: MMM) 178\u003c\/p\u003e \u003cp\u003eTechnology Stocks in the Dow 178\u003c\/p\u003e \u003cp\u003eIntel (NASDAQ: INTC) 178\u003c\/p\u003e \u003cp\u003eInternational Business Machines (NYSE: IBM) 179\u003c\/p\u003e \u003cp\u003eMicrosoft (NASDAQ: MSFT) 179\u003c\/p\u003e \u003cp\u003esalesforce.com (NASDAQ: CRM) 180\u003c\/p\u003e \u003cp\u003eTelecommunications Services Stocks in the Dow 180\u003c\/p\u003e \u003cp\u003eCisco Systems (NASDAQ: CSCO) 180\u003c\/p\u003e \u003cp\u003eVerizon (NYSE: VZ) 181\u003c\/p\u003e \u003cp\u003eSome Blue-Chip US Stocks That Aren't in the Dow 181\u003c\/p\u003e \u003cp\u003eThe FANG Stocks—They Don't Bite 181\u003c\/p\u003e \u003cp\u003eChina's Emerging Titans 183\u003c\/p\u003e \u003cp\u003eSome International Energy Titans 183\u003c\/p\u003e \u003cp\u003eSome Global Consumer Titans 184\u003c\/p\u003e \u003cp\u003eSome Global Financial Service Firms 185\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 9 185\u003c\/p\u003e \u003cp\u003eReferences 186\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: Business 101—Past and Present Business Leaders, or Who's Who in Business 187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 187\u003c\/p\u003e \u003cp\u003ePast Business Leaders 188\u003c\/p\u003e \u003cp\u003e\u003ci\u003eRose Blumkin (Mrs. B)\u003c\/i\u003e 188\u003c\/p\u003e \u003cp\u003e\u003ci\u003eAndrew Carnegie\u003c\/i\u003e 189\u003c\/p\u003e \u003cp\u003e\u003ci\u003eWalt Disney\u003c\/i\u003e 189\u003c\/p\u003e \u003cp\u003e\u003ci\u003eThomas Edison and Jack Welch\u003c\/i\u003e 189\u003c\/p\u003e \u003cp\u003e\u003ci\u003eHenry Ford\u003c\/i\u003e 190\u003c\/p\u003e \u003cp\u003e\u003ci\u003eKatharine Graham\u003c\/i\u003e 190\u003c\/p\u003e \u003cp\u003e\u003ci\u003eWilliam Randolph Hearst\u003c\/i\u003e 190\u003c\/p\u003e \u003cp\u003e\u003ci\u003eSteve Jobs\u003c\/i\u003e 191\u003c\/p\u003e \u003cp\u003e\u003ci\u003eIngvar Kamprad\u003c\/i\u003e 191\u003c\/p\u003e \u003cp\u003e\u003ci\u003eRay Kroc\u003c\/i\u003e 192\u003c\/p\u003e \u003cp\u003e\u003ci\u003eEstee Lauder\u003c\/i\u003e 192\u003c\/p\u003e \u003cp\u003e\u003ci\u003eJ.P. Morgan\u003c\/i\u003e 192\u003c\/p\u003e \u003cp\u003e\u003ci\u003eJohn D. Rockefeller\u003c\/i\u003e 193\u003c\/p\u003e \u003cp\u003e\u003ci\u003eCornelius Vanderbilt\u003c\/i\u003e 194\u003c\/p\u003e \u003cp\u003e\u003ci\u003eSam Walton\u003c\/i\u003e 194\u003c\/p\u003e \u003cp\u003e\u003ci\u003eThomas Watson Jr\u003c\/i\u003e. 195\u003c\/p\u003e \u003cp\u003ePresent Business Leaders 195\u003c\/p\u003e \u003cp\u003e\u003ci\u003eBernard Arnault\u003c\/i\u003e 196\u003c\/p\u003e \u003cp\u003e\u003ci\u003eMary Barra\u003c\/i\u003e 196\u003c\/p\u003e \u003cp\u003e\u003ci\u003eJeff Bezos\u003c\/i\u003e 197\u003c\/p\u003e \u003cp\u003e\u003ci\u003eRichard Branson\u003c\/i\u003e 198\u003c\/p\u003e \u003cp\u003e\u003ci\u003eMichael Bloomberg\u003c\/i\u003e 198\u003c\/p\u003e \u003cp\u003e\u003ci\u003eSergey Brin, Larry Page, and Sundar Pichai \u003c\/i\u003e199\u003c\/p\u003e \u003cp\u003e\u003ci\u003eShawn Carter, Beyoncé Knowles, Sean Combs, and Andre Young\u003c\/i\u003e 200\u003c\/p\u003e \u003cp\u003e\u003ci\u003eTim Cook\u003c\/i\u003e 200\u003c\/p\u003e \u003cp\u003e\u003ci\u003eJamie Dimon\u003c\/i\u003e 201\u003c\/p\u003e \u003cp\u003e\u003ci\u003eJack Dorsey\u003c\/i\u003e 201\u003c\/p\u003e \u003cp\u003e\u003ci\u003eBill Gates, Paul Allen, and Steve Ballmer\u003c\/i\u003e 201\u003c\/p\u003e \u003cp\u003e\u003ci\u003eReed Hastings\u003c\/i\u003e 202\u003c\/p\u003e \u003cp\u003e\u003ci\u003eKylie Jenner and Robyn Fenty\u003c\/i\u003e 202\u003c\/p\u003e \u003cp\u003e\u003ci\u003ePhil Knight\u003c\/i\u003e 203\u003c\/p\u003e \u003cp\u003e\u003ci\u003eJack Ma, Pony Ma, and Robin li\u003c\/i\u003e 203\u003c\/p\u003e \u003cp\u003e\u003ci\u003eRupert Murdoch\u003c\/i\u003e 203\u003c\/p\u003e \u003cp\u003e\u003ci\u003eElon Musk\u003c\/i\u003e 204\u003c\/p\u003e \u003cp\u003e\u003ci\u003eAmancio Ortega\u003c\/i\u003e 204\u003c\/p\u003e \u003cp\u003e\u003ci\u003eHoward Schultz\u003c\/i\u003e 204\u003c\/p\u003e \u003cp\u003e\u003ci\u003eOprah Winfrey\u003c\/i\u003e 205\u003c\/p\u003e \u003cp\u003e\u003ci\u003eMark Zuckerberg and Sheryl Sandberg\u003c\/i\u003e 205\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 10 206\u003c\/p\u003e \u003cp\u003eReferences 206\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11: Being Thrifty like Buffett: Ways to Save Money 208\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 208\u003c\/p\u003e \u003cp\u003eYour Library: Free Books, Magazines, Newspapers, Music, Movies, and More 209\u003c\/p\u003e \u003cp\u003eFree Educational Courses: Khan Academy, Coursera 211\u003c\/p\u003e \u003cp\u003eWebsites for Free Stuff 212\u003c\/p\u003e \u003cp\u003eFree Activities 213\u003c\/p\u003e \u003cp\u003eAmazon.com: The World's Biggest Store 214\u003c\/p\u003e \u003cp\u003eComparison Shopper Tools: Your New Best Friend 215\u003c\/p\u003e \u003cp\u003eBarter: Turning a Cell Phone into a Porsche Convertible 216\u003c\/p\u003e \u003cp\u003eEat a Low-Cost Meal, Periodically 217\u003c\/p\u003e \u003cp\u003eShop Private Label and Generic Items 219\u003c\/p\u003e \u003cp\u003eClothes: Outlet Stores, Vintage Items, and Buying Off-Season 220\u003c\/p\u003e \u003cp\u003eBuying Gasoline 221\u003c\/p\u003e \u003cp\u003eCoupons, Double-Couponing, Triple-Couponing, and Groupon 222\u003c\/p\u003e \u003cp\u003eRewards Programs 223\u003c\/p\u003e \u003cp\u003eNegotiate with Cell Phone, Cable, and other Service Providers 224\u003c\/p\u003e \u003cp\u003eYard Sales, Flea Markets, and More: Turning Trash into Treasure 225\u003c\/p\u003e \u003cp\u003eDo-It-Yourself 227\u003c\/p\u003e \u003cp\u003eDonate Things to Charity 227\u003c\/p\u003e \u003cp\u003eAvoid Shooting Yourself in the Foot with Bad Habits 228\u003c\/p\u003e \u003cp\u003eTying It All Together in a Budget 228\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 11 232\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendix: Sample Budget 232\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReferences 233\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: Buffett's Views on Cars and Homes 235\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 235\u003c\/p\u003e \u003cp\u003eDo You Need a Car? 236\u003c\/p\u003e \u003cp\u003eNew Cars vs. Used Cars 237\u003c\/p\u003e \u003cp\u003eBuying vs. Leasing a Car 239\u003c\/p\u003e \u003cp\u003eThe Best Time to Buy or Lease a Car 241\u003c\/p\u003e \u003cp\u003eHome Basics 243\u003c\/p\u003e \u003cp\u003eFinding A Home 244\u003c\/p\u003e \u003cp\u003eBidding for a Home 245\u003c\/p\u003e \u003cp\u003ePaying for a Home: The Down Payment 246\u003c\/p\u003e \u003cp\u003ePaying for a Home: The Mortgage 248\u003c\/p\u003e \u003cp\u003eA \"House Hack\": Getting Someone to Pay (Most of) Your Mortgage 250\u003c\/p\u003e \u003cp\u003eLooking Under the Hood of a Mortgage 250\u003c\/p\u003e \u003cp\u003eWhat Determines Home Prices? 254\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 12 254\u003c\/p\u003e \u003cp\u003eReferences 255\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13: Buffett on Dale Carnegie, Communication Skills, and Emotional Intelligence 257\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBuffett Learns Life-Changing Skills in a Dale Carnegie Course 257\u003c\/p\u003e \u003cp\u003eCliffsNotes Version on Dale Carnegie and How to Win Friends and Influence People 259\u003c\/p\u003e \u003cp\u003eThings How to Win Friends and Influence People Will Do for You 260\u003c\/p\u003e \u003cp\u003eTechniques in Handling People According to How to Win Friends and Influence People 261\u003c\/p\u003e \u003cp\u003eSix Ways to Make People Like You According to How to Win Friends and Influence People 264\u003c\/p\u003e \u003cp\u003eHow to Win People to Your Way of Thinking, According to\u003c\/p\u003e \u003cp\u003eHow to Win Friends and Influence People 266\u003c\/p\u003e \u003cp\u003eWhat Is Emotional Intelligence (EQ)? 269\u003c\/p\u003e \u003cp\u003eEmotional Intelligence (EQ): Some Details 270\u003c\/p\u003e \u003cp\u003eHave A Great Posse 274\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 13 277\u003c\/p\u003e \u003cp\u003eReferences 277\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14: Buffett's Tips for College 280\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 280\u003c\/p\u003e \u003cp\u003eCollege: The Basics 281\u003c\/p\u003e \u003cp\u003eGetting into a College 282\u003c\/p\u003e \u003cp\u003eGraduate School: Optional for Some Jobs, Mandatory for Others 284\u003c\/p\u003e \u003cp\u003ePaying for College: Scholarships and Grants 286\u003c\/p\u003e \u003cp\u003ePaying for College: The Three-Year Plan for Super Achievers 287\u003c\/p\u003e \u003cp\u003ePaying for College: 529 Plans 287\u003c\/p\u003e \u003cp\u003ePaying for College: Student Loans 288\u003c\/p\u003e \u003cp\u003ePaying for College: On- and Off-Campus Jobs 290\u003c\/p\u003e \u003cp\u003eYour Resume: A Snapshot of Your Qualifications for a Job 291\u003c\/p\u003e \u003cp\u003ePutting Together Your Resume 292\u003c\/p\u003e \u003cp\u003eThe Objective Section 292\u003c\/p\u003e \u003cp\u003eThe Education Section 293\u003c\/p\u003e \u003cp\u003eThe Work Experience Section 294\u003c\/p\u003e \u003cp\u003eThe Skills Section 295\u003c\/p\u003e \u003cp\u003eThe Activities and Interests Section 296\u003c\/p\u003e \u003cp\u003eCover Letter 297\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 14 297\u003c\/p\u003e \u003cp\u003eAppendix 298\u003c\/p\u003e \u003cp\u003eReferences 299\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15: Buffett's Tips for Careers 300\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 300\u003c\/p\u003e \u003cp\u003eLinkedIn Profile: Your Online Resume 300\u003c\/p\u003e \u003cp\u003eFinding an Internship or Job 302\u003c\/p\u003e \u003cp\u003eThe Job Interview(s): Preparation 303\u003c\/p\u003e \u003cp\u003eThe Job Interview(s): Acing Your Interview 306\u003c\/p\u003e \u003cp\u003eThe Job Interview(s): Compensation, or Show Me the Money! 309\u003c\/p\u003e \u003cp\u003eSucceeding on the Job 310\u003c\/p\u003e \u003cp\u003eFinancial Paperwork After Getting a Job 313\u003c\/p\u003e \u003cp\u003eForms W-2 and W- 4 313\u003c\/p\u003e \u003cp\u003eForm 1040: The Annual Income Tax Form and \"The Buffett Rule\" 314\u003c\/p\u003e \u003cp\u003eRetirement Plans 316\u003c\/p\u003e \u003cp\u003eBecoming a 401(k) or IRA Millionaire 318\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 15 319\u003c\/p\u003e \u003cp\u003eAppendix 319\u003c\/p\u003e \u003cp\u003eHealth Benefits Information 319\u003c\/p\u003e \u003cp\u003eReferences 322\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16: Buffett's Tips for Philanthropy 324\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBuffett's Huge Gift and the Giving Pledge 324\u003c\/p\u003e \u003cp\u003eGetting Involved in Philanthropic and Charitable Activities 327\u003c\/p\u003e \u003cp\u003eMeasuring Performance 329\u003c\/p\u003e \u003cp\u003eMarket-Based Economies Are Good Unless You Wind Up as Roadkill 331\u003c\/p\u003e \u003cp\u003eIt's Not All About the Benjamins 333\u003c\/p\u003e \u003cp\u003eThe Loss of Reputation Hurts More Than the Loss of Money 335\u003c\/p\u003e \u003cp\u003eInheritance Matters 337\u003c\/p\u003e \u003cp\u003eBuffett's Definition of Success 338\u003c\/p\u003e \u003cp\u003eBuffett's Tips from Chapter 16 339\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendix 339\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCharitable Lunch Auctions for Warren Buffett, Benefiting Glide Foundation 339\u003c\/p\u003e \u003cp\u003eReferences 340\u003c\/p\u003e \u003cp\u003eGlossary of Financial Terms in \"Plain English\" 343\u003c\/p\u003e \u003cp\u003eIndex 393\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eJOHN M. LONGO\u003c\/b\u003e is a Professor of Profes- sional Practice in the Finance and Economics Department at the Business School of Rutgers University. He has also been visiting professor of finance at EMBA-Global Asia—the joint Executive MBA program of Columbia Business School, London Business School, and The University of Hong Kong. He has more than 25 years of professional investment experience and is currently serving as Chief Investment Officer of Beacon Trust, a $3+ billion registered investment advisor. A Chartered Financial Analyst (CFA), Professor Longo earned an MBA in Finance and a PhD in Finance from Rutgers, where he also received his BA degree. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eTYLER J. LONGO\u003c\/b\u003e is a high school student in the Princeton, NJ area. He has completed the Introduction to Business, Finance, and Economics program for high school students at Columbia University and additional coursework in AP Economics, AP Statistics, and Financial Literacy. He has become financially literate in large part due to his work on this book.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eWhat if you could learn financial literacy from Warren Buffett himself?\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinance is a language like any other: the more fluently you speak it, the further—and more comfortably—you travel. And if you want to improve your financial literacy, what better teacher could you have than Warren Buffett? Often described as the greatest investor of all time, Warren Buffett started his investment firm with$100 in the late 1950s and went on to become the billionaire and sage we know today. Along the way he’s reaped huge profits for fellow investors in Berkshire Hathaway and remains one of the most sought-after and closely watched figures in the business world.\u003c\/p\u003e \u003cp\u003eSo how did he do it? In \u003ci\u003eBuffett’s Tips\u003c\/i\u003e, award-winning professor and professional investor John M. Longo demonstrates just how by translating decades of Buffett’s writings and media appearances into a 100 straightforward tips and strategies anyone can follow for enhanced financial literacy and independence, including:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eEssential concepts like the time value of money and compound interest\u003c\/li\u003e \u003cli\u003eBasic financial instruments, such as savings and checking accounts and certificates of deposit\u003c\/li\u003e \u003cli\u003eApproaches to valuing stock, including discounted cash flow and relative valuation\u003c\/li\u003e \u003cli\u003eHow to build a portfolio in accordance with Buffett’s two golden rules\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eWhether you want to grow your personal finances, develop your business acumen, or improve softer career skills such as emotional intelligence, there’s no one better to learn from than the most famous investor in the world—and no better way to do that than having a copy of \u003ci\u003eBuffett’s Tips\u003c\/i\u003e close at hand.\u003c\/p\u003e \u003cp\u003ePraise for \u003cb\u003eBUFFETT'S\u003c\/b\u003e TIPS\u003c\/p\u003e \u003cp\u003e\"John Longo and his son, Tyler, have performed a valuable service, taking the wisdom of Warren Buffett (the supply of which is ample) and distilling from it 100 'tips,' with the authors' own explanatory text, to guide the reader from financial ignorance to a degree of financial literacy. Along the way, there are useful lessons for life in general. If you have a friend, child, or parent who needs a pathway to a better understanding of some financial fundamentals, get this book for them—it'll go a long way to bringing them up to speed.\"\u003cbr\u003e—\u003cb\u003eSimon Lorne,\u003c\/b\u003e Vice Chairman and Chief Legal Officer, Millennium Management LLC; former Partner, Munger, Tolles \u0026amp; Olson\u003c\/p\u003e \u003cp\u003e\"Priceless. 100 investment and life tips from the Oracle—a great read for the beginning investor.\"\u003cbr\u003e—\u003cb\u003eS. Basu Mullick,\u003c\/b\u003e retired Portfolio Manager and Managing Director, Neuberger Berman; former General Partner, Omega Advisors; noted value investor; former 'Marketwatch Fund Manager of the Year'\u003c\/p\u003e \u003cp\u003e\"John Longo has a well-earned reputation for excellence in teaching at the University level. Working with his son Tyler, John now extends his passion for education out of the classroom and across generations with this guidebook to the essential tools for financial proficiency.\"\u003cbr\u003e—\u003cb\u003eGregory P. Francfort,\u003c\/b\u003e noted value investor; former Institutional Investor 'All-Star Analyst'\u003c\/p\u003e \u003cp\u003e\"John and his son have written an invaluable guide steeped in the wisdom of Warren Buffett. Marrying sound financial advice with general life lessons, \u003ci\u003eBuffett's Tips\u003c\/i\u003e provides a solid foundation for advancing financial literacy across a broad multi-generational audience.\"\u003cbr\u003e—\u003cb\u003eJoshua Rosenbaum, Joshua Pearl, Joseph Gasparro,\u003c\/b\u003e co-authors, \u003ci\u003eThe Little Book of Investing Like the Pros\u003c\/i\u003e and \u003ci\u003eInvestment Banking: Valuation, LBOs, M\u0026amp;A, and IPOs\u003c\/i\u003e\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988863074533,"sku":"NP9781119763918","price":30.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119763918.jpg?v=1761781823","url":"https:\/\/k12savings.com\/es\/products\/buffetts-tips-isbn-9781119763918","provider":"K12savings","version":"1.0","type":"link"}