- available in SG NLB 332.6 (Sengkang

I will be buying this book and using all of his tips.

Fascinating compilation of Buffet's quotes and public opinions. I thought the arrangement of them wasn't completely logical and a few analyses of quotes seemed to be contradictory, but it was a great book to learn more about the life of the world's greatest investor.

Learned about his investment philosophy although I may not agree/subscribe to some of his personal practices

"I'd be a bum on the street with a tin cup if the markets were always efficient."

This was my first book on Warren Buffett! There were lots of great quotes and interesting stories associated with the quotes. Enjoyed it and was a quick light read with some humor thrown in. Recommend it!

n  "Chains of habit are too light to be felt until they are too heavy to be broken."n

This is an excellent little book for gaining insight into the philosophy, thought processes, and methods of Warren Buffet.

While I was expecting a somewhat more serious, textbook-like approach to Buffet, this light-hearted overview of his personality and wisdom was a pleasant surprise! Easy to read, but still insightful.

The balance of direct quotes from Buffet, complemented by the personal experience of the author, made for an effective overview of Buffet as a person, businessman, and investor.

In a world where the billionaires seem to be expanding their power and influence and exhibiting a lack of concern for the rest of the world, Warren Buffett is a breath of fresh air exception. He has clearly stated that most of his fortune will be given away and he had made what is for the uber-wealthy some rather unusual statements. He is on the record as saying that short term capital gains (less than a year) should be very heavily taxed (over 90%) in order to strongly encourage investors to invest on a more long-term basis. He has also lamented that his secretary pays a higher rate of taxes on her income than he does.
Buffett’s investment strategy is well known and he has repeatedly stated it publicly. He examines a company, looks for long-term potential earnings and invests to hold for the long-term. That strategy has served him very well, the holdings of his investment firm have dramatically increased over the decades.
That strategy is articulated again in this book, so the wisdom part in the title is a given precondition. However, the inclusion of wit in the title is justified, Buffett demonstrates that he keeps his success in perspective and does not hesitate to accept and acknowledge what he has done wrong in the past. He also gives credit to others and some of his lines are pretty funny. It is hard to picture many of the other billionaires coming up with jokes of this caliber.
While the book is positive in the treatment of Buffett, it does not come anywhere close to being laudatory. It is a quick and very satisfactory read, well worth the effort to learn a sound investment strategy.

This book has been on my list, primarily because I am interested in WB's success. I found it interesting and I found sound advice that is relevant to my current goals.

Always great lessons from buffett

Overall: The Table of Content is overall the summary of the ideas listed in the book.

Directly from the book (my comments in brackets):

Pg.tQuoted
22tLike Wayne Gretzky says, “go where the puck is going, not where it is”. (Invest the same way an expert plays hockey).
28tCultivate good character: “Chains of habit are too light to be felt until they are too heavy to be broken”.
33tChoose your heroes well: “You are lucky in life if you have the right heroes. I advise all of you, to the extent that you can, pick out a few heroes. There’s nothing like the right ones” Buffett says.
68tWork with good people: “somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without the first, you really want them to be dumb and lazy”.
73tKnow when to quit: If at first you do succeed, quit trying.
75tCommunicate well: “If you understand an idea, you can express it so others can understand it”. (helpful to improve the writing skills).
86tGraham said you should look at stocks as small pieces of the business. Look at market fluctuations as your friend rather than your enemy – profit from folly rather than participate in it. And in (the last chapter of The Intelligent Investor), he said the three most important words of investing: ‘margin of safety’. I think those ideas, 100 years from now, will still be regarded as the three cornerstones of sound investing.
95tMeet Mr. Market: “The stock market should be viewed as an emotionally disturbed business partner, Graham said. This partner, Mr. Market, shows up each day offering a price at which he will buy your share of business or sell you his share. No matter how wild his offer is or how often you reject it, Mr. Market returns with anew offer the next day and each day thereafter. Buffett says the moral of the story is: Mr. Market is your servant, not your guide.
95tI never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
96tIn the short run, the market is a voting machine; in the long run, it is a weighting machine.
100tIt doesn’t have to be rock bottom to buy it. It has to be selling for less than you think the value of the business is, and it has to be run by honest and able people. But if you can buy into a business for less than it’s worth today, and you’re confident of the management, and you buy into a group businesses like that, you are going to make money.
106tRisk comes from not knowing what you are doing
113tYou have to think for yourself. It always amazes me how high-IQ people mindlessly imitate. I never get good ideas talking to other people.
114tUnderstanding the fundamentals of accounting is a form of self-defense: “When managers want to get across the facts of the business of you, it can be dune within the rules of accounting. Unfortunately, when they want to play games, at least in some industries, it can also be done within the rules of accounting. If you can’t recognize the differences, you shouldn’t be in the equity-picking business”.
118tBuild a circle of competence: “If I were looking at an insurance company or a paper company, I would put myself in the frame of mind that I had just inherited that company, and it was the only asset my family was ever doing to own. What would I do with it? What am I thinking about? What am I worried about? Who are my competitors? Who are my customers? Go out and talk to them. Find out the strengths and weaknesses of this particular company versus other ones. If you have done that, you may understand the business better than the management”.
119tAnybody who tells you they can value, you know, all the stocks in value Line, and on the board, must have a very inflated idea of their own ability because it’s not that easy. But if you spend your time focusing on some industries, you’ll learn a lot about valuation”.
120tThe most important thing in terms of your circle of competence is not how large the area of it is, but how well you have defined the perimeter. If you know where the edges are, you are way better off than somebody that’s got one that’s five times as large but they get fuzzy about the edges”.
121tRead Read Read:
How does Buffett determine the value of a business: “Do a lot of reading”.
I read annual reports of the company I am looking at and I read the annuap reports of the competitors—that is the main source of material.
When he first took an interest in GEICO, this is what buffett did: “I read a lot. I was over at the library. I started with Bests’ (insurance rating service) looking at a lot of companies, reading some books about it, reading annual reports, talking to (insurance specialists), talking to managements when I could”.
126tKnow what you are looking for: Birkshire Hathaway’s advertisement: Here’s what we are looking for:
1.tDemonstrated consistent earning power (future projections are of little interest to use, not are “turnaround” situations.
2.tBusinesses earning good returns on equity while employing little or no debt.
3.tManagement in place (we can’t supply it). Note: A subtle way of saying good management in place 
4.tSimple businesses (if there’s a lot of technology, we won’t understand it).
5.tAn offering price (we don’t want to waste our time or that of the seller by talking, even preliminary, about a transaction when price is unknown). Note: Luckily for small investors, Mr. Marker shows up everyday with an offering price.
128tRead Ben Graham and Phil Fisher, read annual reports, but don’t do equations with Greek letters in them.
130tThe quest for quality and the need for frugality need not cancel each other out.
132tFace Facts: “Don’t take the performance of your stock personally. After all: “A stock doesn’t know you own it”.
143tFrankly, no airline is going to be a wonderful business (to invest in).
144tLearn from your mistakes: The first step to recover is to stop doing the wrong thing: “It’s an old principle. You don’t have to make it back the way you lost it”.
146tBuy Storybook stocks: We like great companies with dominant positions, whose franchise is hard to duplicate and has tremendous staying power or some permanence to it.
148tSeek Excellent Companies: “You should invest in a business that even a food can run, because someday a fool will”.
“How much more fruitful is it for us to think about whether the product is likely to sustain itself and its economics than to try to be questioning whether to jump in or out of the stock?”
“Let’s say you were going away for 10 years and you wanted to make one investment and you know everything you know now, and you couldn’t change it while you’re gone. What would you think about?”.

Well organized collection of Buffett's wisdom over the years. There are a few contradictions, but I guess everyone changes their mind on things over w long enough career. I enjoyed it.