Cover image for 101 reasons to own the world's greatest investment : Warren Buffett's Berkshire Hathaway
Title:
101 reasons to own the world's greatest investment : Warren Buffett's Berkshire Hathaway
Author:
Miles, Robert P.
Personal Author:
Publication Information:
New York : J. Wiley, [2001]

©2001
Physical Description:
xviii, 249 pages ; 23 cm
General Note:
Rev. ed. of: The world's greatest investment. c1999.
Language:
English
Personal Subject:
ISBN:
9780471411239
Format :
Book

Available:*

Library
Call Number
Material Type
Home Location
Status
Central Library HG4930 .M55 2001 Adult Non-Fiction Central Closed Stacks
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Summary

Summary

Discover why the model-investment-firm-turned-household-word is the perfect investment--for virtually anyone
Robert Miles is a successful entrepreneur, business owner, and investor who believes that everyone can be a smarter investor regardless of background, education, and income. In fact Miles says that one investment is ideal for virtually everyone to own--Berkshire-Hathaway. Miles has attended the annual shareholders meeting for years, has met Warren Buffett, and is considered a company "insider" and Berkshire-Hathaway expert. In 101 Reasons to Own the World's Greatest Investment, Miles offers his insights into what makes Berkshire-Hathaway so profitable and why shareholders get such value for owning the stock. Among his explanations: Berkshire-Hathaway is run sensibly and frugally by Buffett--there are no lavish corporate head-quarters or extravagant spending by company executives. The company invests in companies it determines will produce steady profits for the shareholders rather than those companies with a history of erratic performance. This accessible, well-researched look at the leading company's investment strategy has received an "unofficial" endorsement by Buffett himself.
Robert P. Miles (Tampa, FL) is an entrepreneur and owns a small business. He is a graduate of the University of Michigan Business School, has been an active shareholder of Berkshire-Hathaway for a number of years, and is frequently asked to speak to other investor groups about Buffett.


Author Notes

Robert P. Miles is a Tampa-based author, entrepreneur, freelance journalist, and professional speaker


Table of Contents

Forewordp. xvii
Introductionp. 1
1. Historical Outperformancep. 4
2. No Losses for Shareholdersp. 5
3. Low Cost, Almost No Costp. 8
4. Proven Public Recordp. 8
5. Owner's Manualp. 9
6. Unique Annual Meetingp. 9
7. No Dividendp. 10
8. No Taxesp. 11
9. Chairman's Agep. 11
10. Acts Like a Mutual Fundp. 12
11. Unique Charity Programp. 13
12. Chairman's Letter and Plain Annual Reportp. 14
13. Bridge over Troubled Water or Buffett's Theory of Relativityp. 16
14. Buffett Discountp. 19
15. Loyal Shareholdersp. 21
16. Owner Managedp. 21
17. Stable Portfoliop. 22
18. No Tech Exposurep. 28
19. Asset Protectionp. 29
20. Reduces Investing Mistakesp. 29
21. Easy Gift/Estate Transferp. 31
22. Small Shareholder Groupp. 32
23. Business Ownership and Timep. 33
24. International Exposurep. 35
25. No Stock Splitsp. 36
26. Shareholder Discountsp. 37
27. Ownership Definedp. 38
28. Merger/Acquisition Incentivesp. 40
29. Investing with a Higher Purposep. 42
30. Book Value per Sharep. 43
31. Equal Opportunity Investmentp. 44
32. Joining a Winnerp. 45
33. Billionaire Makerp. 46
34. Preserves Family Wealthp. 47
35. Salary and Ownership Disclosurep. 48
36. Highest Pricep. 49
37. Lowers Shareholder Expectations but Delivers Higher Returnsp. 50
38. Omaha Basedp. 51
39. Berkshire's Relative Results as Compared to the NASDAQp. 52
40. Low Institutional Ownershipp. 55
41. Trumpets Investment Errorsp. 56
42. Not Included in S&P 500 Indexp. 58
43. No Tax Returnp. 59
44. Welcomes Small Shareholderp. 60
45. Buy I Stock Get 100 Companiesp. 61
46. Wealth Measurement Index Memberp. 62
47. Indefensible Becomes Defensiblep. 63
48. Largest Acquisition Its Bestp. 63
49. Free Use of Moneyp. 66
50. Truth in Advertisingp. 67
51. A New Retirement Perspectivep. 68
52. Unknown, Misunderstood Corporationp. 71
53. Chairman's Minimalist Life-stylep. 72
54. Rich Balance Sheetp. 73
55. Lazy Investor Approachp. 74
56. Berkshire Post Buffettp. 75
57. Never Broker Recommendedp. 81
58. Life Lessonsp. 84
59. Add Zero Every Eight and One-half Yearsp. 86
60. Bear Market Tankp. 87
61. Creative Trust Managementp. 88
62. Margin for Life-stylep. 90
63. Acquirer of Choicep. 91
64. Despisedp. 93
65. Deferred Taxesp. 96
66. No Earnings Dilutionp. 97
67. Chairman's Characterp. 99
68. Six Sigmap. 100
69. Decade Traderp. 102
70. Small Headquartersp. 103
71. Concentrationp. 104
72. Eliminates Choicesp. 106
73. Undervalued Stockp. 108
74. Chairman's Mortalityp. 110
75. Competencep. 112
76. Quick Inoculationp. 114
77. Attracts Like Mindsp. 116
78. Classicp. 117
79. It's More Than What You Readp. 119
80. Misunderstoodp. 122
81. Value Investingp. 124
82. Very Rare Talentp. 125
83. Inefficient Market Theoryp. 128
84. Turn Off the Noisep. 129
85. Capital Allocationp. 131
86. Intelligent Investingp. 133
87. Peaceful Night's Sleepp. 136
88. Independent Thoughtp. 138
89. World's Largest Foundationp. 139
90. Active Mindp. 141
91. Always Good Surprisesp. 142
92. For Owners Onlyp. 144
93. Creative Tax-free Dividendsp. 147
94. Perpetual Giftp. 150
95. No Gimmicksp. 152
96. Value Addedp. 153
97. Financial Educationp. 156
97. Financial Education (Part 2)p. 159
98. Investment Modelp. 162
98. Investment Model (Part 2)p. 164
99. For All Seasonsp. 169
100. State of Mindp. 171
101. Simplicityp. 174
Conclusionp. 177
Appendix I Twenty-five Questions Every Wise Investor Should Askp. 181
Appendix II Twenty Investment Punchesp. 183
Appendix III Eight Ways We Become Investment Victimsp. 185
Appendix IV Investment Beliefs and Philosophiesp. 191
Appendix V Recommended Free Web Sitesp. 193
Appendix VI Recommended Berkshire Hathaway-Related Books and Web Sitesp. 196
Appendix VII Copyright Noticep. 201
Appendix VIII Berkshire Hathaway's Owner's Manualp. 202
Appendix IX Business Activitiesp. 219
Appendix X Common Stockp. 221
Appendix XI Shareholder-designated Contributionsp. 224
Appendix XII Contributions Program Commonly Asked Questionsp. 229
Appendix XIII Acquisition Criteriap. 233
Appendix XIV Other Information about Berkshirep. 235
Appendix XV Answers To #45, Buy 1 Stock Get 100 Companiesp. 236
Appendix XVI Berkshire (Class A) Year-end Closing Pricesp. 238
Appendix XVII A Very Personal Experiencep. 239
About the Authorp. 243
Indexp. 245

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