Investment Bible: The Real Story of Buffett: The Real Story of Buffett

Author: Andy Kilpatrick
Publisher:
Publish Date: 2003-12-01
Features: This book vividly presents Warren Buffett's thoughts, insights, actions, and behaviors in the securities market through more than 200 typical real-life stories of his investment. It gives you a sense of being there, tangible, learnable. At the same time, the book provides an in-depth yet easy-to-understand analysis of his personality, his virtues, and the trust shareholders have in him. Buffett himself possesses extraordinary creativity, noble character, quick reflexes, and a humor that everyone enjoys. For many years, dozens of corporate managers who have worked with him have continued to follow Buffett, except for those who have retired or passed away. The essence of Buffett's wisdom: Berkshire Hathaway 40 years ago was a textile factory on the brink of bankruptcy. Under Buffett's meticulous management, the company's net assets grew from $22.887 million in 1964 to $162 billion by the end of 2001; the stock price rose from $7 per share to $90,000 at one point. Today, Berkshire Hathaway has evolved into a renowned enterprise in the Fortune Global 500, encompassing three major industries: banking, funds, and insurance; news media; and a large holding company group, as well as equity investments in major companies like Coca-Cola, American Express, Gillette, Disney, Time Warner, and Solomon Brothers, along with various bond portfolios. It ranks 13th among the top 100 financially strongest companies in the world. Only after the U.S. stock market bubble burst in 2001 did Buffett's value investment philosophy and long-term holding strategy gain widespread recognition, as the public once again focused on the earnings, prices, and values of listed companies. Over more than 40 years, Buffett has created a high return of over 30,000 times for hundreds of thousands of shareholders who trusted his investment philosophy and invested in his company, nurturing millions of millionaires, billionaires, and even billionaires among the more than 300,000 Berkshire Hathaway shareholders in the U.S., UK, Germany, India, and Canada. Statistics show that just in Omaha, where Buffett has long resided, 200 billionaires have emerged with Buffett-like success. Each business owned by Berkshire Hathaway is a part of Buffett's value investment philosophy, being painted on the financial canvas of "The Investment Bible." Today, Buffett is building Berkshire Hathaway from scratch into a financial empire—one that not only holds unimaginable economic value but also possesses eternal value beyond worldly money. The author of this book primarily adopts a long-term investment strategy, and the story of Warren Buffett will begin here.