Management for Organizations Assignment

Submitted To: Dr. Vaneeta Agarwal Submitted By: Akshay Malhotra M.B.A Gen (I) Roll No. -1 Section ±B

-Alice Schroeder .

1 New York Times bestseller. columnist and former insurance analyst Alice Schroeder was a noted insurance industry analyst and writer who was a managing director at Morgan Stanley. Since 2008. 1956. she has been a columnist for Bloomberg News. She is an American author. In the first week of October 2008. She first met Warren Buffett when she published research on Berkshire Hathaway. her grasp of the subject and insight so impressed him that he offered her access to his files and to himself. she published The Snowball. Their friendship and mutual respect make her ideally positioned to write the The Snowball. Warren Buffet with his Biographer Alice Schroeder . Warren Buffett and the Business of Life. which debuted as a no.About the Author Alice Schroeder Alice Schroeder was born on December 14.

stealing golf clubs from Sears every weekend!!! Even after tasting so much success. and pals around with Bono. ³Warren¶s reaction was that of a man emerging from the cave in which he had been living all his life. He plays bridge. eats hamburgers. he made enough money delivering newspapers to file a $7 tax return. At 14. especially in the beginning like: The Oracle of Omaha was a bona fide juvenile delinquent. He was a man who packed corporate ledgers on his honeymoon.the height of the dot-com bubble in 1999.The Snowball -Alice Schroeder ³Balzac said that behind every great fortune lies a crime. when even his shareholders were losing faith in the value-investing approach. A turning point came when he was rejected by Harvard Business School and decided to attend Columbia. there's a price to be paid for his success. and he saved his earnings. He opens the car trunk on his own and takes out his suitcase which shows his down to earth attitude. The Snowball is a book about the life and career of one of the world¶s most successful investor. ³Clearly. but see the $10 it would eventually become when compounded.´ There is some exciting material in the book. That¶s not true at Berkshire. He deducted his watch and bicycle as business expenses. who did regret later for not having paid attention at all as his kids grew up. Exposed to Graham¶s idea of security analysis. and I am not at all certain many would have been willing to pay it. One professor there was Benjamin Graham. and his first millions.´ Warren Edward Buffet is the man who has turned all the odds against him and this book tries to capture the essence of this great man. Warren Buffet leads a simple and uncomplicated life.´ Graham became his mentor and role model. He would look at a dollar. She then backtracks through the years to Buffett's formative years. blinking in the sunlight as he perceived reality for the first time. author of ³The Intelligent Investor.´ Alice Schroeder provides a surprising opening to the book by starting with Warren Buffett's low point --. his discovery of Benjamin Graham. Warren Buffet. He began dreaming of money-making from the time he was 6. .

´ Even after tasting so much success Warren Buffet is the man who has been able to keep himself grounded and it is such a greatness of this man that he has donated the majority of his wealth to the Bill and Melinda Gates foundation with selfless motives.  Warren Buffet had a habit of voraciously reading newspapers. and so did not consider profit-sharing plans something worthy of discussion. as he his humble enough to tell his biographer ³Whenever my version is different from somebody else¶s « use the less flattering version. He was a man who loved making money and was highly successful in the game he best played. the world has ever known. even in industries as highly talent dependent as the financial industry. believes in value investing. ³Then he buried his head in a newspaper as the plane rolled down the runway and ascended to forty thousand feet. but none of the gains of businesses. hidden behind his newspapers.he felt that he owed employees a salary. as if he were alone in his study at home. and continues to be the most successful investor. Learning¶s: There are various lessons which can be learnt from the life of the Oracle of Omaha. watching videos. For the next two hours.´ From this we learn that. He sat reading. . no matter how annoying or disturbing the situation be. we should not lose our focus from our work and concentrate all our energies towards achieving all we desire. while the flight attendant set out linens and bud vases filled with orchids on the bird¶s -eye maple dining tables before returning to the galley to prepare lunch. six people hummed around him. He lives a simple life who has stuck to the rules he has laid down for himself. talking. Buffett never moved.  He is humble and his humility stands apart from the rest of his status. and making phone calls. From this we learn that even we become successful we should be grounded and do not let the success get to our heads.One thing that one comes to know in this book is Buffett's respect for capital --. His concentration was unchallenged so much so that he could read in the midst of mayhem.

Recommendations: All in all. as well as providing historical context for the recent financial crisis. and huge amounts of pop psychology discussing his complex relationship with his wife. Also there are too much financial details which only a value investor will find fascinating and hence be more inclined towards knowing them. ³All this free information was lying around untouched ² and no one wanted it!´ We must ask ourselves whether there are similar untouched and unloved information around us. The Snowball is highly recommended book as far as providing insight into what went into making the most successful investor of all time. as research analysts or investment bankers. Dislikes: The problem is that the book is just too long. . with hundreds of pages devoted to Buffett's friendship with Washington Post matriarch Katherine Graham. Also this book is recommended for MBA¶s who want to pursue their careers in finance. There might be some use in them after all. Warren Buffet emphasized to utilize all the resources available to the optimal level in order to maximize the gains of any organization and one must be smart enough to realize the opportunities which others have not and use it to our benefits.

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