For example, in an essay on CEO stock options, he writes, “Negotiating with one’s self seldom produces a barroom brawl.” This is his way of saying that an executive who can give himself compensation totally disproportionate to his performance surely will.
There are uncountable gems of financial wisdom to be harvested from these essays, taken from the annual reports he writes for Berkshire Hathaway, his holding company.
In that sense, the value of the lessons learned from Buffett’s Essays could be far greater than the book’s price.
Morgen Witzel is a Fellow of the Centre for Leadership Studies at the University of Exeter Business School.
'I am an eager reader of whatever Phil has to say, and I recommend him to you,' Buffett said.
In 'Common Stocks and Uncommon Profits,' Fisher emphasises that fixating on financial statements isn't enough -- you also need to evaluate a company's management.You must provide the emotional discipline.' Another groundbreaking work of Graham's, Buffett said that 'Security Analysis' has given him 'a road map for investing that I have now been following for 57 years.' The book's core insight: If you do a thorough enough of analysis, you can figure out the value of a company -- and if the market knows the same.Buffett has said that Graham was the second most influential figure in his life, only after his father.The tenure sets a record for chief executive not only in duration but in value creation and philosophizing.The fourth edition of celebrates its twentieth anniversary.Even now, he still spends about 80% of his day reading.“Look, my job is essentially just corralling more and more and more facts and information, and occasionally seeing whether that leads to some action,” he once said in an interview. “We want to get the facts, and then think.” To help you get into the mind of the billionaire investor, we’ve rounded up his book recommendations over 20 years of interviews and shareholder letters.Buffett, the Bard of Omaha, is a genuine American folk hero, if folk heroes are allowed to build fortunes worth upward of billion.He’s great at homespun metaphor, but behind those catchy phrases is a reservoir of financial acumen that’s generally considered the best of his generation.It doesn't matter if you have a perfect product, production plan and marketing pitch; you'll still need the right people to lead and implement those plans.The year 2015 marked the fiftieth anniversary of Berkshire Hathaway under Warren Buffett's leadership, a milestone worth commemorating.