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The cover of The Warren Buffett Way

The Warren Buffett Way

Robert G. Hagstrom

How does Warren Buffett choose what to buy, and what can an investor learn from studying businesses instead of guessing at share prices?

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At a glance

Author
Robert G. Hagstrom

Why read it

  • You will stop trying to predict the market's next move and look at the business behind the share instead
  • You will have a set of business, management and financial questions to ask before you buy a share
  • You will see why a long time horizon matters when judging whether a business is worth owning

Who it is for

  • An investor tired of chasing tips and short term price moves
  • Someone with savings who wants a way to pick shares
  • A manager who wants to judge a company like an owner

Contents

  1. Foreword: The Exception
  2. Foreword to the Second Edition
  3. Foreword to the First Edition
  4. Introduction
  5. Preface
  6. Chapter 1
  7. A Five-Sigma Event
  8. THE WORLD’S GREATEST INVESTOR
  9. Personal History and Investment Beginnings
  10. The Buffett Partnership Ltd.
  11. Berkshire Hathaway
  12. Insurance Operations
  13. The Man and His Company
  14. Five-Sigma Event
  15. Chapter 2
  16. The Education of Warren Buffett
  17. Benjamin Graham
  18. Philip Fisher
  19. Charlie Munger
  20. A Blending of Intellectual Influences
  21. Chapter 3
  22. Buying a Business
  23. THE TWELVE IMMUTABLE TENETS
  24. Business Tenets
  25. Business Tenets
  26. Management Tenets
  27. Financial Tenets
  28. Market Tenets
  29. Simple and Understandable
  30. Consistent Operating History
  31. Favorable Long-Term Prospects
  32. Management Tenets
  33. Rationality
  34. Candor
  35. The Institutional Imperative
  36. Taking the Measure of Management
  37. Financial Tenets
  38. Return on Equity
  39. Owner Earnings
  40. Profit Margins
  41. The One-Dollar Premise
  42. Market Tenets
  43. Determine the Value
  44. Buy at Attractive Prices
  45. Anatomy of a Long-Term Stock Price
  46. The Intelligent Investor
  47. Chapter 4
  48. Common Stock Purchases
  49. NINE CASE STUDIES
  50. The Washington Post Company
  51. Tenet: Simple and Understandable
  52. Tenet: Consistent Operating History
  53. Tenet: Favorable Long-Term Prospects
  54. Tenet: Determine the Value
  55. Tenet: Buy at Attractive Prices
  56. Tenet: Return on Equity
  57. Tenet: Profit Margins
  58. Tenet: Rationality
  59. Tenet: The One-Dollar Premise
  60. GEICO Corporation

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