The Essays of Warren Buffett PDF
by Warren Buffett
My expectation before I started reading this book (as with books of this nature) was to understand how Buffett pins down a purchase.
- How does he think company A is better than company B, even if both are in similar business
- How does he arrive at a measure of intrinsic value
- How does he estimate the 'margin of safety'
('How does he exit' is probably not such a great question because Berkshire Hathway's fav holding period is 'Forever')
What I would say is rather than give exact answers, Buffett leads us through his thought process. He is miles ahead than many because he has the ability to question the standard approach. The book shares his view on a wide variety of issues that come about when you consider a "business" and it is here that you realise how important the approach of looking at an investment as "part-owner" is.
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Download PDF The Essays of Warren Buffett