BOOK REVIEW

(SUBMITTED BY: ARYAN MEHTA)

Semester: 03 Division: C Roll no: 305

 THE WARREN BUFFETT WAY
BY ROBERT G. HAGSTROM

“THE WARREN BUFFETT WAY” was published by John Wiley in 2004

 ABOUT THE AUTHOR

Robert Hagstrom is one of the best-

known authors of investment books for general audiences.
He has written nine books, including the New York Times
best-selling The Warren Buffett Way and The Warren
Buffett Portfolio: Mastering the Power of the Focus
Investment Strategy . He is also the author of The
NASCAR Way: The Business That Drives the Sport, The
Detective and the Investor: Uncovering Investment
Techniques from the Legendary Sleuths , and Investing:
The Last Liberal Art. Robert is a graduate of Villanova
University with a BA and MA and is a Chartered
Financial Analyst. He lives with his family in Villanova,
Pennsylvania.
 CENTRAL CHARACTER

● (WARREN BUFFETT)
Warren Edward Buffett a legendary investor, With net worth
of more than $78.9 billion and CEO of Berkshire Hathaway, He lives a simple life.
He is 90 years old and known as king of investment

Born in Omaha, United States. He began his education at Rose Hill Elementary
School and graduated from Woodrow Wilson High School. Buffett displayed an
interest in business and investing at a young age. With his entrepreneurial mindset,
he sold chew gums, sold coca-cola bottles and magazines and many more things,
he made his first $1200 and filed his first tax.

● (BENJAMIN GRAHAM)
Benjamin Graham is considered as dean of financial analysis.
He has studies bachelor of science from Columbia university in 1914 and has
interest in mathematics and philosophy. Despite with no-business education in
market he has begin his career in Wall street. His first job was a messenger at a
brokerage firm, and writing reports for them and soon he was awarded a
partnership in the firm. At the age of 25 he was earning an annual salary of
$600,000. In 1926 Graham formed a partnership firm with Jerome Newman. It is
the same firm that hired Warren Buffett 30 year later.

PHILIP FISHER, CHARLIE MUNGER, are some of main influences in

Buffett's life that helped him financially, mentally throughout his life and gave
equally moral support to him.

SUMMARY OF THE BOOK

The book includes the detailed study of Warren Buffett’s life.

From his first bought pin-ball machine to investing in Billion
dollar coca-cola company and Acquiring Berkshire Hathaway.
The few things that I’ve learned from this book are Taxes cost
you money, travel costs money, eating, living, utilities and all
things charges you in form of money. There are still things that
you’ve to pay after leaving this world, so you need to plan for
 your future. Having patience in important, Those who know
Buffett agree it is rationality that sets him

apart from the rest, having Humorous environment with

employees, improving speaking skills, rationality and tenets in
life.

● NEVER INVEST BEFORE PROPER KNOWLEDGE

I’ve apparently started investing after reading this book. Buffett

never invested in stocks rather than investing in businesses
because he saw quality in management. Even if he is the
wealthiest man on this planet, he has made some mistakes in his
life. He always tells people not to listen to people who give tips
about market investment.

● GOAL IS TO BE RICH NOT TO LOOK RICH

Even after being one of the richest people on this planet he always
dresses elegantly with a formal suit. Many people know that even today
Buffett himself drives his own 2006 Cadillac DTS car. He has pledged
to donate 90% from his wealth of $80billion leaving only $1million each
to son/daughter.

● LIFE LESSONS

He has set an example throughout his life. The book stated that he never
worries about what has gone and what is not in your hand. Buffett never
worries about the stock market or Economy, he believes that making
things right is not always in your hands. Other things that have been
derived by him was always “SAVE FIRST BEFORE SPENDING”,
protect your reputation, Don’t give up and enjoy your work.

Concluding to this book review stating that- Always do your work

with 100% dedication and happiness and there is always a new
sunrise after every night that gives equal opportunity to everybody
in this world.

Every person having or not having interest in Business should read

this book by Robert hagstrom.