I was searching for the hardcopy book of Buffet's letters to the shareholders, and landed with this book in library. But this is a good summary from all those letters organised like your corporate finance chapters. I should have read this book along with my Corporate Finance course text book during my course. This is just pure rational thought process of buffet, (even if he does not follow all those mentioned for the criticisms against him) gave a better idea of various concepts of running , owning a company. Loved this book to the core, got me glued to this for last one week.

What does a business manager do? What are "reported earnings"? Do stock prices reflect the cash a business will generate? Should they? Fascinating, folksy window into business.

"[Aesop's] investment insight was 'a bird in the hand is worth two in the bush.' To flesh out this principle, you must answer only three questions. How certain are you that there are indeed birds in the bush? When will they emerge and how many will there be? What is the risk-free interest rate (which we consider to be the yield on long-term US bonds)? If you can answer these three questions, you will know the maximum value of the bush -- and the maximum number of birds you now possess that should be offered for it. And, of course, don't literally think birds. Think dollars."

Close to a 5 but was kind of tedious in spots.

All in all, a wonderful read.

Personally, I would've preferred a chronological order, rather than a topic-arranged one. Also, it would've been helpful, for those of us that like a sense of timeline, if it were denoted which year that each paragraph/part was from.

In the audiobook version (doesn't seem to be in the printed version), I particularly liked Munger's take on Buffett and Berkshire towards the end.

While somewhat dry, this is a must read for those who seek to understand investing. What makes this particular book interesting is that the author has done a great favor in dividing the chapters by asset class/type. It is not just Buffetism's and the how-to's of choosing stock. Instead, you get a sense for how Buffett looks at each asset class in assessing validity and potential investor value.

There is also a fair amount of humility written throughout the book; particularly heart-warming as it does come from the very best in the business. They say you learn more from your mistakes than your successes. In this regard, having Buffett discuss what went wrong, why, and what he then did to correct it was valuable.

This is an excellent book to graze and read one at a time.

The essays pull you in, and provide excellent frameworks for looking at various business activities.

there's too much of Charlie and I in this book. I couldn't read until the end, really boring reading.

Helps you understand how companies are managed. This book is filled with buffet wisdom on determining a well ruined company.. this book does not teach you how to buy stocks by looking at numbers, instead it helps you understand how good companies should be managed

Unbelievable this is publicly available and free. Crash course in not just investing, but developing an emotional posture toward good decisionmaking. A brilliant mixture of psychology, accounting, business, and even some philosophy. Long-only, concentrated, permanent.

If something is not worth doing at all, it's not worth doing well. - Charlie Munger

It's far better to own a significant portion of the Hope diamond than 100% of a rhinestone.

A book that deserves repeated readings to further one’s understanding of people, markets, and value.

Superb insights. Perfect complement to "Snowball." Worth re-reading at least twice. Love the uncompromising integrity on top of Buffet's famed ultra-longterm investment philosophy. Few essays are however repetitive, but I can understand why the editor includes them for comprehensiveness sake.

Nothing exhilarating but a lot of common sense from the goats, enjoyable especially just on certain sections and how they hate the way companies have come to treat stuff like sbc and normalizing things

One of my favorite value investing books. Not only does Warren Buffett say that you are an owner of a company when you buy a share but he does a great job at explaining why you should think of yourself as an owner of the company when you buy a share.