Written by Alice Schroeder, this books brings life to mostly hidden, less discussed and the complex nature of Warren Buffett's personal life and his relationships with his family members especially his mother, the ladies in his life and his children.
It discusses in detail his love and affection for his mentor Ben Graham and his relationships with Washington Post’s Kay Graham, Charlie Munger and Bill Gates (calling him his third son).
This book reveals Warren Buffett’s life being a shy kid who had passion about numbers and money from his childhood. As well, how he started building his youth business venture and saved money for the larger ventures to come later on in his life. It also examines his methods of investment partnerships, business decisions and countless problems he faced during his business ventures throughout his life in developing such an iconic empire what is now called “Berkshire Hathaway”.
For Value Investors, the book discusses the idea of Ben Gram's idea of “Cigarette butts” and his parting ways from Graham’s philosophy of value investing in “Cigarette butts” and proposing Buffett's investment philosophy to “buy a great business at a fair price than a fair business at a great price”.
His "Twenty Punches" approach to investing also makes you think very carefully as he said, "if you thought of yourself as having a card with only twenty punches in a lifetime, and every financial decision used up one punch. You'd resist the temptation to dabble. You'd make more good decision and you'd make more big decisions."
Overall, this is a wonderful biography and enjoyable reading. It should be kept by every person who loves Buffett's way of investing, wants to teach his/her children how to start savings and investments. It is a great book for the students of business and investments who want to be future leaders in business world.
For USA
For Canadians
