Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage

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9781847374370: Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage
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Mary Buffett and David Clark clearly outline Warren Buffett's strategies in a way that will appeal to newcomers and seasoned Buffettologists alike. Inspired by the seminal work of Buffett's mentor, Benjamin Graham (The Interpretation of Financial Statements, 1937), this book presents Buffett's interpretation of financial statements with anecdotes and quotes from the master investor himself. Potential investors will discover: -Buffett's time-tested dos and don'ts for interpreting an income statement and balance sheet -Why high research and development costs can kill a great business -How much debt Buffett thinks a company can carry before it becomes too dangerous to touch -The financial ratios and calculations that Buffett uses to identify the company with a durable competitive advantage-which he believes makes for the winning long-term investment -How Buffett uses financial statements to value a company -What kinds of companies Warren stays away from no matter how cheap their selling price Once audiences complete and master Buffett's simple financial calculations and methods for interpreting a company's financial statement, they will be well on their way to identifying which companies are going to be tomorrow's winners-and which will be the losers that should be avoided at all costs. Destined to become a classic in the world of investment books, Warren Buffett and the Interpretation of Financial Statements is the perfect companion volume to The New Buffettology and The Tao of Warren Buffett.

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About the Author:

Mary Buffett's own business acumen can be measured by her success as CEO of Superior Assembly, a very successful commercial and motion picture editing company, with clients including Madonna and Coca-Cola. She lives in Southern California.

David Clark is a portfolio manager and a leading authority on Warren Buffett's investment methods.

Karen White has been narrating audiobooks since 1999, with more than two hundred to her credit. Honored to be included in AudioFile's Best Voices and Speaking of Audiobooks's Best Romance Audio 2012 and 2013, she is also an Audie Award finalist and has earned multiple AudioFile Earphones Awards.

Excerpt. Reprinted by permission. All rights reserved.:

CHAPTER 1
Two Great Revelations That Made Warren the Richest Person in the World

In the mid-sixties Warren began to reexamine Benjamin Graham's investment strategies. In doing so he had two stunning revelations about what kinds of companies would make the best investments and the most money over the long run. As a direct result of these revelations he altered the Graham-based value investment strategy he had used up until that time and in the process created the greatest wealth-investment strategy the world has ever seen.

It is the purpose of this book to explore Warren's two revelations --

1. How do you identify an exceptional company with a durable competitive advantage?

2. How do you value a company with a durable competitive advantage?

-- to explain how his unique strategy works, and how he uses financial statements to put his strategy into practice. A practice that has made him the richest man in the world. Copyright © 2008 by Mary Buffett and David Clark

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Other Popular Editions of the Same Title

9781416573180: Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage

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ISBN 10:  1416573186 ISBN 13:  9781416573180
Publisher: Scribner, 2008
Hardcover

9781849833196: Warren Buffett and the Interpretation of Financial Statements

Simon ..., 2011
Softcover

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David Clark; Mary Buffett
Published by Scribner (2008)
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