Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage

Warren Buffett and the Interpretation of Financial Statements

The Search for the Company with a Durable Competitive Advantage

by Mary Buffett
(based on 29 customer reviews)

Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage (Hardcover)
Author: Mary Buffett
Publisher: Scribner


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Most useful review as voted by customers:
28 out of 29 people found the following review helpful.
Review Date: 10/15/08


Great for the beginning to intermediate investor!

If you have an underlined copy of Security Analysis (Ben Graham's 700 page treatise on value investing) sitting on your desk or you are a professional money manager you may or may not find this book interesting. But if you are a beginner to intermediate investor who is interested in getting a quick basic course in how to read financial statements from a Warren Buffett perspective it is the perfect book.

I'm a professional with $500 million under management and I got a couple of good ideas out of it. But at this stage of my career getting a couple of good ideas on how to make more money is just fine with me. It only takes a couple of great ideas to get rich and even fewer to stay rich. Their book the New Buffettology, which was published in 2002, is aimed more at the professional investor and many people in the investment business use it. But I would say this book is for that beginning to intermediate group that really are a little in the dark about what to look for in a company's financial statements. And it focuses on what to look for if you are like Buffett and looking for a company with a Durable Competitive Advantage. Also it is a quick and easy read - unlike Graham's Security Analysis which most people buy but never read - try reading 700 pages on how to read a financial statement and see how far you get before you nod off with boredom. Quick and easy can be a good thing for great many investors.

Am I glad I bought it? Yes. Would I recommend it to my friends that aren't professionals? Yes. Would I recommend it to professionals? Yes, but don't expect to get more than a few good ideas out of it.

6 out of 8 people found the following review helpful.
Review Date: 10/3/08


READ THIS BOOK before it's too late!

This book was great. It finally shed light on something I've always wanted to know how to do -- read a financial statement. Buffett's never been more relevant than he is today. After reading this, I feel like I have some control over what happens to my finances in this scary time.

5 out of 7 people found the following review helpful.
Review Date: 10/2/08


The best lesson on investing ever!

This book is like a checklist of exactly what to look for when evaluating stocks. I'm so excited to have read it because the market right now is full of Warren Buffett opportunities and I know how to find them!! I just got my MBA and I learned more from these 200-some pages about how to pick a stock than I did getting the degree. Like Buffett and Clark's other books, this one has a clarity and focus that makes it a quick, enjoyable read. Five stars!

5 out of 7 people found the following review helpful.
Review Date: 10/2/08


Great Book!!!!!

This book was a complete revalation - and it is brilliant! The authors walk us through the financial statement as if Warren Buffett were at our side explaining things as he works his way through the numbers. They even show us where on the balance sheet that we could have seen where the investment banks were setting themselves up for disaster. It is a far more timely book than the Graham book. The main focus of the book is how Buffett uses a company's financial statement to help him identify if the company has what Buffett calls a Durable Competitive Advantage - the kind of company that will make us super rich over the long run. They also get into how Buffett determines the right price to pay for the company - so we don't end up paying too much for it. I highly recommend this book to any one that is interested in a sane way for make fortune. Happy reading!

4 out of 5 people found the following review helpful.
Review Date: 10/4/08


More help at a critical time....

I had read Buffettology and heard this book was out. Buffettology was written with such clarity and I had high hopes for this book as well. I was not disappointed. This book delivered! In these times it is extremely helpful for me to be able to understand Buffett's financial strategies.

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