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Being a Buffett-based book, it is aimed at building a buy-and-hold portfolio. It distinguishes Mr Buffett's approach from that of his mentor in value investing, Mr Graham. While Graham fished for underpriced stocks of all kinds, and unloaded them when certain criteria in gains were met, Buffett looks for more durable advantages for long-term returns on investment.
I would term this "introductory," in reciting basic financial statement contents, meanings and inferences about companies one can get (pretty readily) from financial statements that are publicly available. Aside from the endless repetition of certain phrases ("durable competitive advantage," "getting rich"), it is highly listenable and chock-full of logic and common sense. It was a nice refresher for my financial accounting basics with added value, since my financial accounting class covered a lot of nuts and bolts, but not much about interpretation. While some of these points were apparent from my own observations, much had not occurred to me, e.g., aspects of a company's investments in other companies. There are red flags here that help show potential hard sledding ahead for companies. This got me thinking about lots of companies in today's landscape in different ways, in terms of challenges they face.
7 of 7 people found this review helpful
If I could have received a dollar for each time those two phrases were mentioned I would be super rich too, just like Warren Buffet. Enjoyed the information, however I felt there was too much emphasis on being and getting super rich just like Warren Buffet by finding companies with a durable competitive advantage . I was looking more for information on financial statements...
4 of 4 people found this review helpful