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Warren Buffett
Inside the Ultimate Money Mind
Robert G. Hagstrom (Author)
9781394168446, Wiley
Paperback / softback, published 29 December 2022
272 pages
22.6 x 15 x 2 cm, 0.318 kg
In Warren Buffett: Inside the Ultimate Money Mind, Hagstrom breaks new ground with a deep analysis of Buffett's essential wisdom, an intricate mosaic of wide-ranging ideas and insights that Buffett calls a Money Mind. What exactly is a Money Mind? At one level, it's a way of thinking about major financial issues such as capital allocation. At another level, it summarizes an overall mindset for successfully investing in today’s fast-paced stock market, a mindset that depends on a commitment to learning, adapting, and facing down irrelevant noise. This is not a method book. It is a thinking book. Warren Buffett: Inside the Ultimate Money Mind explains the philosophies of self-reliance, stoicism, rationalism, and pragmatism and their contributions to making intelligent investment decisions. It also outlines the evolution of value investing, discusses how to develop a business-driven investing mindset, and describes the defining traits of successful active management. Lastly, it examines the surprising aspects of a Money Mind – sportsman, teacher, and artist. In short, Warren Buffett: Inside the Ultimate Money Mind helps readers understand the building blocks that go into making a Money Mind so they can begin to incorporate its principles in the service to a life of value. Testimonials "An erudite masterpiece..." "It's another must-read…" "Pure Genius! This is a game changer in investment books..." "Effervescence and thoughtful analysis of Buffett's life and work..." "Hagstrom's books always enable readers to think about the world in new ways…"
–Lawrence A. Cunningham, author; professor and director, Quality Shareholders Initiative, George Washington University
–Bethany McLean, journalist and Contributing Editor, Vanity Fair, author, Saudi America and co-author The Smartest Guys in the Room
–Robert P. Miles, author; Executive in Residence, University of Nebraska at Omaha, Executive MBA Program, 'The Genius of Warren Buffett'
–Tom Gayner, Co-chief Executive Officer, Markel Corporation
–Tren Griffin, author, Charlie Munger: The Complete Investor
Prologue V Chapter One The Young Warren Buffett 1 It Begins 8 From Investment Partnership to a Compounding Conglomerate 13 Chapter Two Developing an Investment Philosophy 17 Howard Homan Buffett 19 Benjamin Graham 26 Charles Thomas Munger 32 In Closing . . . 47 Chapter Three Evolution of Value Investing 49 Stage One: Classic Value Investing 51 Stage Two: Valuing a Business, Not a Stock 65 Stage Three: The Value of Network Economics 81 Chapter Four Business-Driven Investing 115 Investment Zone 117 Chapter Five It’s Not That Active Management Doesn’t Work 147 Chapter Six The Money Mind: Sportsman, Teacher, Artist 185 Epilogue 199 Acknowledgments 207 Berkshire Hathaway Library 211 For Further Reading 215 Notes 225 Index 237
Subject Areas: Finance & accounting [KF]
