Warren Buffett is the most successful and revered investor of all time. His ability to consistently find undervalued companies has made him one of the world's richest men.
Despite many previous books about him, it's rare to find an objective assessment - one that praises him when appropriate but also recognizes that even Buffett makes mistakes. For instance, is he right to call for higher taxes and an end to earnings guidance? Should Buffett fans copy his avoidance of technology stocks?
In this penetrating look at how Buffett thinks, Vahan Janjigian shows listeners how to learn from the master's best moves while avoiding strategies that don't apply to small investors. And he explains Buffett's favorite valuation methodology, the discounted cash flow model, and how it can significantly reduce the odds of overpaying for a stock.
Of all the titles on Warren Buffett's financial wizardry, this is perhaps the most balanced and comprehensive, presenting the wild successes and also the lesser-known challenges in Buffett's career. Kent Cassella's delivery has a movie-announcer quality that enlivens an otherwise pedantic examination of each of Buffett's key decisions over a range of decades. But such is the nature of Buffett's legendary patience and common-sense investing style. His adherence to an established method, irrespective of trends, has none of the sensationalism that the technology bubble or real-estate debacle have exhibited in recent years. Overall, Cassella's straightforward delivery is a good match for this carefully researched text. M.R. (c) AudioFile 2008, Portland, Maine
