Buffett, Creation of the American Capitalist by Roger Lowenstein – Book Review

Title and Author : Buffett, The Creation of the American Capitalist by Roger Lowenstein – Book Review

Content Synopsis : T

This superb written pager is the biography of the mysterious Warren Buffett from birth until 1995. It is not an "authorized" biography that freed Lowenstein from writing honestly about not only Buffett's phenomenal success as an investor but also his personal defects.

From middle-class middle-class farming in Omaha, Nebraska, the book guides you through all of its major personal and business events. See what formed this young man who was born with a fascination for numbers and business and who started his entrepreneurial career at age 6 and sold the Chiclets tire. After learning from his father about the fundamentals of stock trading, he continued studying under the famous Benjamin Graham in Colombia. He studies the fundamentals of investing values ​​there and is warned of technical or speculative investment.

In the early fifties of the last century I created small investor partnerships and continued a life-long obsession with American business. He explains his encyclopaedic knowledge of US corporations, as well as his controversial study of thousands of annual reports.

The book enters into fascinating details about the acquisition and transformation of Berkshire Hathaway, which becomes exceptionally Buffett Holding Company. You read about his engagements in a large non-alcoholic beverage company, GEICO, and many other companies, including newspapers, airlines and manufacturers. You also meet a fascinating and growing group of friends, associates and collections that he meets and expands his influence and reputation. The chapter on his short time as director of Salomon Brothers and how he saved that firm is fascinating and enchanting.

Buffett's investment performance was incomparable in American business. He surpassed the stock exchange and every other investment portfolio. It's unusual for him to do consistently more than four decades. He was also the richest man in the United States.

The book also records his personal life, his ups and downs, his relationships and family, and his friendships with reputations such as Katherine Graham and of course his longtime partner and alter ego Charlie Munger.

In spite of incredible wealth and fame, Buffett remains faithful to his hometown of Nebraska, where he continues to live according to the values ​​and ethical standards he has learned to grow up. You will easily understand why he is compared with Mark Twain and Will Rogers for his wisdom.

Readability / writing quality:

Extremely well written is the page of the converter. Written almost as a novel, the biography deals with.

Notes on Author : T

Roger Lowenstein was a Wall Street Journal reporter, author of five books and co-author of the other, wrote for many major magazines and director of his own investment fund.

Three great ideas that you can use : T

1. The only way to make money on Wall Street is to invest in value. Daily trading and speculation about the direction of the market is in vain. Buffett has shown the value of a clear understanding of the business you are investing in.

2. The Buffett genius, as it was, was described by the author as "a very genius character – patience, discipline, and rationality". This, with a lot of hard work, is the foundation of success, including the success of investment.

3. Finding shares of high value, but at a lower price and long-term investment in well-managed businesses is a key component of long-term success on the market.

Release information : T

Buffett, The Creation of the American Capitalist Roger Lowenstein

Copyright Roger Lowenstein in 1995. Main Street Books, Doubleday.

Overall book rating: Excellent

Writing style: Attractive and easy to follow.

Usability: Very useful for anyone who wants to understand what works well in investing value.