Think, Act, and Invest Like Warren Buffett

Think, Act, and Invest Like Warren Buffett

The Winning Strategy to Help You Achieve your Financial and Life Goals

eBook - 2012
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Publisher: New York : McGraw-Hill Companies, Inc., 2012.
ISBN: 9780071809962
Branch Call Number: Downloadable Ebook
Characteristics: 1 online resource
Additional Contributors: HCPLC OverDrive

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Lord_Vad3r May 22, 2019

One of the greatest things about Warren Buffett is that he can take extremely complicated investing concepts and make them folksy, charming, and easy to both remember and understand. He's sort of like Mrs. Gump, "Now Forrest, investing is like a box of chocolates. The sea salt and caramel pay great dividends but you could risk getting them stuck in between your teeth. The milk chocolate are like triple a-rated municpal bonds that will hold their value. . ." The Oracle of Omaha is truly someone we can look to for clear cut advice.

That way, someone like Larry Swedroe can come in and write two chapters loosely associated with Mr. Buffett and spend the next 120 pages glossing over complicated concepts and complicating easy concepts. I am no financial manager or planner, so maybe I misunderstood some things. At one point he says that investors never take risks they aren't compensated for. A statement like that makes it sound like a risk free environment, which the market never is. In the discussion on rebalancing, he seemed to state that you should sell stocks that are doing well for ones that aren't. Why would you want to buy things that aren't performing? Sell off, sure. But use that money to buy something that isn't performing? Not so sure.

Other problems may just be due to the need for an updated version. Such as the notion that you should keep 6 months of reserve cash laying around. You'd be losing money on inflation every day that money isn't invested. ETFs could use a bit more focus too.

There's no discussion of value investing which, as I understand it, is what Buffett is really good at.

Any way, the best advice in the book can be summed up as follows: plan, accumulate, insure, and pay as little as possible. If I've made any errors in my assessment I hope someone will correct me. . .


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