{"product_id":"the-warren-buffett-way-30th-anniversary-edition-isbn-9781394239849","title":"The Warren Buffett Way, 30th Anniversary Edition","description":"\u003cp\u003e\u003cb\u003eAn insightful new take on the life and work of one of the world's most remarkable investors: Warren Buffett\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIn the 30th Anniversary Edition of \u003ci\u003eThe Warren Buffett Way,\u003c\/i\u003e celebrated author and investor Robert Hagstrom delivers the definitive version of his bestselling compendium of the investment strategies made famous by Warren Buffett. \u003ci\u003eThe Warren Buffett Way\u003c\/i\u003e describes the twelve investment tenets of Warren Buffett's strategy called business-driven investing and his distinct approach to managing a portfolio of businesses. You'll learn how you can apply these same principles to building your own portfolio and find discussions on the psychology of long-term investing, its optimal benefits, and how to avoid the most common pitfalls and mistakes encountered by investors.\u003c\/p\u003e \u003cp\u003eThis latest edition includes:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eA new author preface to complement the existing forewords from Peter Lynch, Bill Miller, and Howard Marks.\u003c\/li\u003e \u003cli\u003eInsights on how to achieve worldly wisdom advanced by Warren Buffett's longtime business partner Charlie Munger.\u003c\/li\u003e \u003cli\u003eFootnotes and references to academic work that supports and expands on Warren Buffett's investment approach and portfolio management.\u003c\/li\u003e \u003cli\u003eThe complete Berkshire Hathaway common stocks portfolios from 1977-2021.\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003cbr\u003eAn indispensable guide to the remarkable work and accomplishments of Warren Buffett, \u003ci\u003eThe Warren Buffett Way\u003c\/i\u003e is a can't-miss resource for professional and individual investors who want to learn from the world's greatest investor.\u003c\/p\u003e \u003cp\u003eForeword to the First Edition ix\u003c\/p\u003e \u003cp\u003eForeword to the Second Edition xv\u003c\/p\u003e \u003cp\u003eForeword to the Third Edition xvii\u003c\/p\u003e \u003cp\u003ePreface xxvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter One World's Greatest Investor 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnderstanding Patterns 3\u003c\/p\u003e \u003cp\u003eThe Making of an Entrepreneur 4\u003c\/p\u003e \u003cp\u003eBuffett Limited Partnership 16\u003c\/p\u003e \u003cp\u003eBerkshire Hathaway: Compounding Conglomerate 20\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter Two The Education of Warren Buffett 25\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHoward Homan Buffett: Earliest Influence 26\u003c\/p\u003e \u003cp\u003eBenjamin Graham: Developing an Investment Methodology 33\u003c\/p\u003e \u003cp\u003ePhilip Fisher: Discerning a Good Business 41\u003c\/p\u003e \u003cp\u003eCharlie Munger: An Intellectual Perspective 50\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter Three Business- Driven Investing 65\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBusiness Tenets 68\u003c\/p\u003e \u003cp\u003eManagement Tenets 71\u003c\/p\u003e \u003cp\u003eFinancial Tenets 79\u003c\/p\u003e \u003cp\u003eValue Tenets 85\u003c\/p\u003e \u003cp\u003eAn Intelligent Investor 91\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter Four Common Stock Purchases 93\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Washington Post Company 96\u003c\/p\u003e \u003cp\u003eGEICO Corporation 107\u003c\/p\u003e \u003cp\u003eCapital Cities\/ABC 120\u003c\/p\u003e \u003cp\u003eThe Coca- Cola Company 130\u003c\/p\u003e \u003cp\u003eApple, Inc. 140\u003c\/p\u003e \u003cp\u003eThe Value of Retained Earnings 159\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter Five Managing a Portfolio of Businesses 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePortfolio Management Today: A Choice of Two 164\u003c\/p\u003e \u003cp\u003eA Third Choice: Focus Investing 166\u003c\/p\u003e \u003cp\u003eThe Superinvestors of Buffettville 170\u003c\/p\u003e \u003cp\u003eThree Thousand Focus Investors 181\u003c\/p\u003e \u003cp\u003eA Better Way to Measure Performance 185\u003c\/p\u003e \u003cp\u003eHigh Active- Share Investing 200\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter Six It's Not That Active Management Doesn't Work 203\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHigh Priests of Modern Finance 204\u003c\/p\u003e \u003cp\u003eEfficient Market Hypothesis 218\u003c\/p\u003e \u003cp\u003eInvestment and Speculation: Understanding the Difference 225\u003c\/p\u003e \u003cp\u003eInvesting in a Parallel Universe 230\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter Seven Money Mind 235\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSportsman, Teacher, Artist 238\u003c\/p\u003e \u003cp\u003eBerkshire Hathaway: An American Institution 245\u003c\/p\u003e \u003cp\u003eAppendix A Berkshire's Performance versus S\u0026amp;P 500 Index (1965–2022) 251\u003c\/p\u003e \u003cp\u003eAppendix B Berkshire's Common Stock Portfolios (1977–2021) 253\u003c\/p\u003e \u003cp\u003eNotes 279\u003c\/p\u003e \u003cp\u003eAcknowledgments 293\u003c\/p\u003e \u003cp\u003eAbout the Author 297\u003c\/p\u003e \u003cp\u003eIndex 299\u003c\/p\u003e \u003cp\u003e\u003cb\u003eROBERT G. HAGSTROM \u003c\/b\u003eis one of the best-known authors of investment books including the \u003ci\u003eNew York Times \u003c\/i\u003ebestseller \u003ci\u003eThe Warren Buffett Way \u003c\/i\u003eand \u003ci\u003eInvesting: The Last Liberal Art\u003c\/i\u003e. He has followed, studied, and written about Warren Buffett since 1984. Robert has over 40 years of experience as a professional investor. He is currently the Chief Investment Officer of EquityCompass Investment Management, LLC and Senior Portfolio Manager of the Global Leaders Portfolio. Robert was the institutional portfolio manager of the Growth Equity Strategy at Legg Mason Capital Management when he received honorable mention as Morningstar's Domestic Stock Fund Manager of the year in 2007.\u003c\/p\u003e  \u003cp\u003eIn the \u003ci\u003e30th Anniversary Edition \u003c\/i\u003eof \u003ci\u003eThe Warren Buffett Way\u003c\/i\u003e, celebrated author and investor Robert Hagstrom delivers the definitive version of his bestselling compendium of the investment strategies made famous by Warren Buffett.  \u003c\/p\u003e\u003cp\u003eThe book traces Warren Buffett’s career from his humble childhood beginnings including his earliest entrepreneurial ventures, the influence of his father Howard Homan Buffett, studying and working with the legendary value investor Benjamin Graham, to launching his investment partnership at age 25 that later purchased control of a nearly bankrupt Berkshire Hathaway that became the 7th largest company in the world worth $800 billion. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe Warren Buffett Way \u003c\/i\u003edescribes the twelve investment tenets of Warren Buffett’s strategy called business-driven investing and his distinct approach to managing a portfolio of businesses. Importantly, the book explains how you can apply these same principles to building your own portfolio. You’ll also find discussions on the psychology of long-term investing, its optimal benefits, and how to avoid the most common pitfalls and mistakes encountered by investors. \u003c\/p\u003e\u003cp\u003eThis latest edition includes: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eA new author Preface to complement the existing Forewords from Peter Lynch, Bill Miller, and Howard Marks\u003c\/li\u003e\n\u003cli\u003eInsights on how to achieve worldly wisdom advanced by Warren Buffett’s longtime business partner, the late Charlie Munger\u003c\/li\u003e\n\u003cli\u003eFive investment case studies: The Washington Post Company, GEICO, Capital Cities\/ABC, The Coca-Cola Company, and Apple \u003c\/li\u003e\n\u003cli\u003eHigh active share investing; focused, low-turnover portfolios that beat the market\u003c\/li\u003e \u003cli\u003e Footnotes and references to academic work that supports and expands on Warren Buffett’s investment approach and portfolio management\u003c\/li\u003e \u003cli\u003eThe complete Berkshire Hathaway common stocks portfolios from 1977 to 2021\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eAn indispensable guide to the remarkable work and accomplishments of Warren Buffett, \u003ci\u003eThe Warren Buffett Way \u003c\/i\u003eis a can’t-miss resource for professional and individual investors who want to learn from the world’s greatest investor.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePRAISE FOR\u003cbr\u003e\u003ci\u003eTHE WARREN BUFFETT WAY\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"An extraordinarily useful account of the methods of an investor held by many to be the world's greatest.\"\u003cbr\u003e—\u003cb\u003e\u003ci\u003eThe Wall Street Journal\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"It's first rate. Buffett gets a lot of attention for what he preaches, but nobody has described what he practices better than Hagstrom. A comprehensive primer on applying Buffett's investment strategy. Fascinating.\"\u003cbr\u003e—\u003cb\u003e\u003ci\u003eFortune\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"Simply the most important new stock book.... If you think you know all about Warren Buffett, you have a lot to learn from this book.\"\u003cbr\u003e—\u003cb\u003e\u003ci\u003eForbes\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"Nobody has described what Buffett practices better than Hagstrom.\"\u003cbr\u003e—\u003cb\u003e\u003ci\u003eTime\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"Almost anybody curious about the relationship between the behavior of economics, the performance of firms, and the ups and downs of the stock market will find something useful here.\"\u003cbr\u003e—\u003cb\u003e\u003ci\u003eThe Economist\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990365061349,"sku":"NP9781394239849","price":29.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781394239849.jpg?v=1761787527","url":"https:\/\/k12savings.com\/es\/products\/the-warren-buffett-way-30th-anniversary-edition-isbn-9781394239849","provider":"K12savings","version":"1.0","type":"link"}