Warren Buffett's Ground Rules: Words of Wisdom from the Partnership Letters of the World's Greatest Investor

Warren Buffett s Ground Rules Words of Wisdom from the Partnership Letters of the World s Greatest Investor Using the letters Warren Buffett wrote to his partners between and a veteran financial advisor presents the renowned guru s ground rules for investing guidelines that remain startlingly rel

  • Title: Warren Buffett's Ground Rules: Words of Wisdom from the Partnership Letters of the World's Greatest Investor
  • Author: Jeremy C. Miller
  • ISBN: 9780062415561
  • Page: 462
  • Format: Hardcover
  • Using the letters Warren Buffett wrote to his partners between 1956 and 1970, a veteran financial advisor presents the renowned guru s ground rules for investing guidelines that remain startlingly relevant today.In the fourteen years between his time in New York with value investing guru Benjamin Graham and his start as chairman of Berkshire Hathaway, Warren Buffett manaUsing the letters Warren Buffett wrote to his partners between 1956 and 1970, a veteran financial advisor presents the renowned guru s ground rules for investing guidelines that remain startlingly relevant today.In the fourteen years between his time in New York with value investing guru Benjamin Graham and his start as chairman of Berkshire Hathaway, Warren Buffett managed Buffett Partnership Limited, his first professional investing partnership Over the course of that time a period in which he experienced an unprecedented record of success Buffett wrote semiannual letters to his small but growing group of partners, sharing his thoughts, approaches, and reflections.Compiled for the first time and with Buffett s permission, the letters spotlight his contrarian diversification strategy, his almost religious celebration of compounding interest, his preference for conservative rather than conventional decision making, and his goal and tactics for bettering market results by at least 10% annually Demonstrating Buffett s intellectual rigor, they provide a framework to the craft of investing that had not existed before Buffett built upon the quantitative contributions made by his famous teacher, Benjamin Graham, demonstrating how they could be applied and improved.Jeremy Miller reveals how these letters offer us a rare look into Buffett s mind and offer accessible lessons in control and discipline effective in bull and bear markets alike, and in all types of investing climates that are the bedrock of his success Warren Buffett s Ground Rules paints a portrait of the sage as a young investor during a time when he developed the long term value oriented strategy that helped him build the foundation of his wealth rules for success every investor needs today.

    One thought on “Warren Buffett's Ground Rules: Words of Wisdom from the Partnership Letters of the World's Greatest Investor”

    1. American super-investor Warren Buffett wrote lengthy and explanatory letters to his investors throughout his career, starting in the late 1950s. The author of this book gathered snippets of these letters and brought them together in a topical format, with topics such as workouts, controls, taxes, and size vs performance. He provided an overall analysis for each topic, then included snippets from a number of investment letters on that topic covering in most cases multiple years. The author warns [...]

    2. Brilliant investment lessons and an opportunity to peak into Buffets operation before Berkshire. Great read for anyone considering a value investment approach.The only reason for a reduced rating was a relatively large amounts of repetition between Millers extracted 'lessons' and the actual quotations of Buffet. Plus an inability to read full letters was sometimes a disadvantage.

    3. A good starting point for those who are interested in finding out more about Buffett. This book refers to a lot of the BPL letter and groups them together for readers to easily digest the content. A lot of key takeaway for those who are new into the investment field, and a good reminders for those who are familiar with the topic.

    4. Although there is some repetition - the author summarises the key points of each letter before the letter itself is presented - this is a great book. A wonderful way to immerse yourself in the Buffett wisdom.

    5. Recenzja będzie krótka: zrobiłem sobie kilkanaście notatek, które zakładam że będą stanowić podstawę moich własnych inwestycji - małych i dużych. Pierwsza najważniejsza: nie wrzucaj pieniędzy w tematy, których nie rozumiesz. To że ich nie rozumiesz nie oznacza, że masz je zrozumieć bo mogą być po prostu elementem chwilowej mody. Konserwatyzm inwestycyjny pozwala offsetować emocje.Polecam dla tych którzy chcą w mądry sposób myśleć o pieniądzach.

    6. Discusses Buffet's investment philosophy through the lens of his annual letter to his investors. I.e pre-"get-rich-quick" investment advise grounded in careful analysis and rationalism. This is all decades old wisdom.I can't judge to what extent it still holds, but I don't think he radically changed his positions, and he's still doing okayInteresting read, though got a bit repetitive.

    7. Great Read.This is a great reference book for investing. The breakdown of the various investment strategies employed by Warren Buffett makes it an indispensable read for value investors.

    8. With increasing time comes newly attained wisdom, WB has relentlessly wrote to his fellow partners year after year on certain topics even if it has already been discussed in the older letters. What the author did in this book was basically dissecting all the letters and separating it all into the relevant topics thereafter. Each chapter begins with a simple elaboration of a certain argument made by WB (eg, taxation, stock categories, partnership rules etc), followed by the partnerships' letter c [...]

    9. I'm a Warren Buffet fan, so I was excited to find a compilation of his partnership letters that provide insights into his investment philosophy. This book does that very well.

    10. WARREN BUFFET'S GROUND RULES is a study in investment strategy, based on a series of letters known as the "Partnership letters," originating in the late nineteen sixties. As a young man, Warren Buffett set up a partnership for stock market investment. He established the group upon certain core principles of investing, which he helpfully documented. Over the years, Buffett fleshed out more and more of these core investment ideas. In this extensive investigation of the Partnership, Mr. Miller uses [...]

    11. Fascinating dive into the guiding principles of Buffett's analyses and business decisions. These principles are as much about basic investment guidelines as they are about human judgment, transparency and fairness -- elements of which are constantly referenced, demonstrated and reiterated throughout his years of partnership letters. I was curious about this book after having read one of Buffett's recent annual letters, which was humorous, insightful and about ten times more enjoyable than I anti [...]

    12. This book makes me understand more about Buffett’s thoughts in investing and while starting his partnership in early age. Through the partnership letters, Warren Buffett is trying to educate the partners by providing basic investment 101 concepts. It is really a good read for investment starters!

    13. BUFFETT LAID OUT THE GROUND RULES BEFORE ACCEPTING PEOPLES MONEY. HE TOLD THEM THESE GROUND RULES ARE THE PHILOSOPHY. IF YOU ARE IN TUNE WITH ME, THEN LETS GO. IF YOU ARE NOT, I UNDERSTAND.Each partner was sent an updated copy of the ground rules annually. These then morphed into shareholder letters.Its close to impossible for outstanding investment management to come from a group of any size with all parties really participating in decisions.While i would prefer a 5-year test, I feel 3-years is [...]

    14. Warren Buffett I would say is the Rock Star of investors. Funny thing last yr. 2015 he offered the world a $1 million check if they could get the Big Dance NCAA men’s Davison basketball I tournament brackets correct. He knew damn well no one has ever done that yet. I did not receive any type of compensation for reading & reviewing this book. While I receive free books from publishers & authors, I am under no obligation to write a positive review, only an honest one. A very awesome book [...]

    15. I couldn't complete the book, I managed 50%. Bit disappointed by the book, it's too monotonous except the first few chapters on compounding interests.

    16. This is modelled similar to the Essays of WB, but using materials from the partnership period, and categorised by topics. The key difference is that the author added a lot of his analysis and more importantly, the context, and the environments at that time, which helps me a lot with my comprehension of the letters. For example, if you've read the partnership letters before, you will notice many times in those letters, the investments are not named, except for a few such as Sanborn Map, and Demps [...]

    17. I admit, I didn't finish this book; I only made it halfway through. While Miller writes in a very accessible style (and so does Buffett, in his letters), the contents of this book are really only useful for someone who is actively investing -- either because they are a portfolio manager, or have bundles of money to burn and/or are foolish.Basically the book opens with a recommendation that, for most people, active investing is a waste of both time and money and that you should simply invest in a [...]

    18. As I began to read Warren Buffett's Ground Rules, the words on each page communicated a true sense of knowledge that I believe every investor should know. His sixth ground rule states, "I am not in the business of predicting general stock market or business fluctuations. If you think I can do this, or think it is essential to an investment program, you should not be in the partnership." Good advice to grow ones investment portfolio. This will definitely impact your financial career!

    19. A needless rehashing of the basic principles of Warren Buffett-style investing. Adds virtually nothing to the knowledge base of modern investing. All Buffett's partnership letters from the '50's and '60's are available online with a quick search and speak for themselves much better than the author does for them.

    20. I won this book through Giveaways and my husband grabbed it right away from me. He really liked the book and said its a great book to read on investing and if you're a fan of Warren Buffett. He has also loaned it out to several of his friends and they also have enjoyed it. :)

    21. Fantastic view into the mind of a legend and genius in investing. Loved seeing his early beginnings and how he in his own words described his methods and thinking. Very enjoyable for someone as impressed by Buffett as I am.

    22. Weirdly constructed. The author quoted extensively from Buffet, then excerpted him from his partner letters. Why the redundancy? Good insight was interrupted by this. Either the quotes were similar or Buffet says the same things over and over. Perhaps that was one of the lessons.

    23. Loved it, second best book I've read on Buffett (best is Lowenstein's). Fascinating to see his investment style and thought process from his early years (late 20's and early 30's).

    24. Best book for business person. Wondered about Warren Buffett's Investment Style. I would recommend this book for anyone. Thanks iMusti

    25. The most boring book I read this year, and perhaps ever, very little insight, very much repetition. not even good for insomnia, as the narrator's annoying voice.

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