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One the best books on Warren Buffet value investing, Aug. 15 2003
One of the very best books that tries to explain Warren Buffett's approach to value investing. Unlike most "Buffett" authors, she stays true to the essence of Warren Buffet, and emphasizes solid financials before looking at price, etc. Other authors stray from the Buffett path by trying to apply his method to technology stocks, overlook the fundamentls and focus on price history and movements (doh!). Mary is stays true and is thorough.
The good: Mary Buffett is very specific about what factors she believe Warren Buffet considers whe selecting a stock, and she gives examples and lots of info to explain it.
The "could be better":
1) She is so close, but does not give precise formulae for each factor, or uses a vague term at a critical spot. It took me many weeks and many more books to fill in the gaps to where I could develop a complete analysis of a stock.
2) It would be a great assist to give an example of how to use a data source such as Value Line to plug into her analysis steps. Formulae and data elemts from a specified source would make this book priceless.
As solid and treu to Buffett as this book is, I cannot believe Mary Buffett didn't follow-up with a website, newsletter service, analysis software, speaking engagements, etc. She has divulged more specifics about warren Buffett's value investing method then anyone else I could find, yet has not pursued the real cash cows that could come from it.
Read this book a few times, and carefully work through to develop the complete calculations (don't be lazy now!), combine it with a 90-day trial of Value Line and you will be able to quickly filter hundreds of stocks down the best values for the next year!
My highest recommendation for an investing book other than Warren Buffett's writings and the books by his mentor Graham. Get this with Graham's The Intelligent Investor, read Warren's Letters To Investors at berkshirehathaway.com, and you will have a solid value foundation!