Cover image for The Warren Buffett way : investment strategies of the world's greatest investor
The Warren Buffett way : investment strategies of the world's greatest investor
Hagstrom, Robert G., 1956-
Personal Author:
First Wiley mass market edition.
Publication Information:
New York : J. Wiley, 1997.

Physical Description:
xiv, 313 pages : illustrations ; 18 cm
Personal Subject:
Format :


Call Number
Material Type
Home Location
Item Holds
HG172.B84 H34 1995 Adult Non-Fiction Non-Fiction Area

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"Simply the most important new stock book of the 1990s, to date. Buy it and read it." -Kenneth L. Fisher Forbes

The runaway bestseller-updated with new material included for the first time!

"The Warren Buffett Way outlines his career and presents examples of how his investment techniques and methods evolved and the important individuals in that process. It also details the key investment decisions that produced his unmatched record of performance." -from the Foreword by Peter S. Lynch Bestselling author, One Up on Wall Street and Beating the Street

". . . an extraordinarily useful account of the methods of an investor held by many to be the world's greatest." -The Wall Street Journal

"Robert Hagstrom presents an in-depth examination of Warren Buffett's strategies, and the 'how and why' behind his selection of each of the major securities that have contributed to his remarkable record of success. His 'homespun' wisdom and philosophy are also part of this comprehensive, interesting, and readable book." -John C. Bogle Chairman, The Vanguard Group

"It's first rate. Buffett gets a lot of attention for what he preaches, but nobody has described what he practices better than Hagstrom. Here is the lowdown on every major stock he ever bought and why he bought it. Fascinating. You could even try this at home." -John Rothchild Financial columnist Time magazine

Author Notes

Robert G. Hagstrom is the Senior Vice President and Director of Legg Mason Focus Capital and Portfolio Manager of Legg Mason Focus Trust. His most recent books are The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy and The NASCAR Way: The Business that Drives the Sport, both published by John Wiley and Sons.

Reviews 3

Booklist Review

Warren Buffett was identified as the richest person in America by Forbes last year. Of the more than 70 individuals or families worth more than $1 billion on Forbes list, only Buffett acquired his wealth through investing. Hagstrom, a principal at a Philadelphia investment firm, has tracked the success of Buffett for more than 10 years and argues that the same strategies that Buffett uses in selecting acquisitions can be used by individuals in selecting stocks. Buffett's firm, Berkshire Hathaway, has one of the most widely read annual reports issued, with Buffett himself personally contributing advice, humor, and insight. Hagstrom had Buffett's approval in including extensive quotes from these reports, but Buffett cooperated in no other way with this book. Hagstrom examines the influence of Benjamin Graham and his classic The Intelligent Investor on Buffett and details what Buffett looks for in his investments. Recommended for libraries with popular investment collections. ~--David Rouse

Publisher's Weekly Review

Starting with $10,000 in 1956 and today worth some $8.5 billion, with significant holdings in Coca-Cola, Capital Cities/ ABC and the Washington Post Company, Omaha, Nebr.-based Buffet is a major player on Wall Street. Financial consultant Hagstrom, who did not interview his subject but obtained permission to quote from his Berkshire Hathaway annual reports, here outlines Buffet's iconoclastic tenets for investing. Unlike many entrepreneurs who take over companies to sell them off in bits, Buffet buys and holds. He rejects the ``efficient market theory''; he doesn't worry about the stock market; and he buys a business, not a stock. He manages with a small staff, no computers and a ``hands off'' strategy. Learning his secrets here, now the rest of us can do a Buffet? Illustrations. Fortune Book Club dual main selection. (Nov.) (c) Copyright PWxyz, LLC. All rights reserved

Library Journal Review

Hagstrom, a principal in a Philadelphia investment firm, describes the investment strategies and techniques used by Warren Buffett to realize enormous success as a professional investor. Aiming his analysis at the individual investor, Hagstrom reviews the influence of Buffett's mentors, Ben Graham and Philip Fisher, and illustrates Buffett's synthesis of their investment philosophies. Hagstrom provides case studies of Buffett's major investments, showing the qualities of the companies that had appeal. Buffett's investment philosophy espouses long-term investing, respect for good management, and recognition of the value of a business franchise. This insightful work is a worthwhile complement to Graham's classic writings, considered essential for new investors.-Joseph Barth, U.S. Military Acad. Lib., West Point, N.Y. (c) Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.

Table of Contents

1 Five-Sigma Eventp. 1
2 The Two Wise Menp. 27
3 Mr. Market and the Lemmingsp. 49
4 Buying a Businessp. 75
5 Permanent Holdingsp. 99
6 Fixed-Income Marketable Securitiesp. 159
7 Equity Marketable Securitiesp. 183
8 A Few More Good Stocksp. 219
9 An Unreasonable Manp. 251
Appendixp. 269
Notesp. 299
Indexp. 309