Buffett Beyond Value: Why Warren Buffett Looks to Growth and Management When Investing

Buffett Beyond Value: Why Warren Buffett Looks to Growth and Management When Investing

Posted by jack_miller | Published 7 months ago



With 65 ratings

By: Prem C. Jain, Mike Chamberlain, et al.

Purchased At: $27.95

A detailed look at how Warren Buffett really invests

In this engaging new audiobook, author Prem Jain extracts Warren Buffett's wisdom from his writings, Berkshire Hathaway financial statements, and his letters to shareholders and partners in his partnership firms. Jain uncovers the key elements of Buffett's approach that every investor should be aware of.

With Buffett Beyond Value, you'll learn that, contrary to popular belief, Warren Buffett is not a pure value investor, but a unique thinker who combines the principles of both value and growth investing strategies. You'll also discover why understanding CEOs is more important than studying financial metrics; and why you need an appropriate psychological temperament to be a successful investor.

  • Reveals Buffett's multifaceted investment principles
  • Discusses how Buffett thinks differently from others about portfolio diversification, market efficiency, and corporate governance
  • Highlights how you can build a diverse and profitable investment portfolio

With this audiobook as your guide, you'll learn how to successfully invest like Warren Buffett.

Study this book as part of a graduate program, and it was by far one of the better books I've read over the last two years. It has a friendly narrative tone, is insightful, and gives you some feeling as to how the man has been shaped, and thus informs his decision-making practices. The book does wander from time to time, and the tempo isn't always consistent — either way worth the read, and pretty good for a business book.

- maxton_bailey

Having read several books on Buffett and having done some research of my own, I sometimes wonder whether there is still more to learn about Buffett's investment strategies. Thankfully, this book is very insightful and while the points are not all new, the material is presented in thoughtful and interesting ways. Points such as the importance of superior management, low leverage financing for investors and firms, avoiding listening to most
talking heads, meaning of adequate diversification, emphasis on downside risk while looking for growth prospects, doing a lot of research before buying stocks gives you the conviction to have staying power and patience and will lower the chance you will panic when there is volatility in the stock price, are worth repeating.

I have particularly liked reading a book by an academic since the arguments/points are made in a logical manner consistent with general finance theory. Sometimes when you read stuff written by practitioners, the
reasoning is not entirely logical and sometimes inconsistent with general finance theory.

Prem is a well respected Accounting/Finance Professor and has taught at some of the best schools. Fortunately, he has avoided the dogmatic/ideological positions taken by many academics on the efficiency of markets and he allows for the possibility of above average returns for skilled investors. His personal investing experience may have influenced his opinion on these issues.

Finally, some of the valuation examples appear a bit too approximate. Prem's background in accounting and personal investing experience could be a potent combination that provides rich insight into various valuation aspects and deliver high dividends to his readers.

- isabella_brown

When I learnt that there was another book on Warren Buffett, whose life and investment philosophy has been an open book for decades, I wondered! But, after reading Professor Jain's book I realized that this is different from other books. Professor Jain has been able to go beyond the common knowledge of Warren Buffett's value investment philosophy. The book extracts much of Buffett's thinking from his famous Annual Reports of Berkshire Hathaway,Inc. In this book, Professor Jain has been able to provided a balance discussion of Buffett's investment philosophy, sound academic principles, successful as well as not so successful case histories, and, glimpses of Buffett's personal life stories. The book justifies author's hypothesis that Buffett weighs growth as much as value in his investment approach.

The lessons drawn in the second chapter from Berkshire's history are useful for new investors. I was particularly impressed with the discussion in Part Six in which professor Jain discusses concepts of market efficiency, arbitrage, and hedge funds. Prof. Jain has simplified these difficult concepts for a lay investor. I recommend this book highly for investors and I believe professionals can also benefit form it.

- miley_thompson

People tend to attribute Buffett's success to a lots of different things. Starting from being plain lucky to being born with the gift to pick stocks. In this book Prem Jain explains that neither of these things are true by digging deep into each of Buffett's investments to look at what motivated him to make that particular investment. Prem Jain essentially breaks down Buffett's style to some core principles that Buffett repeatedly uses and sticks to irrespective of the temptation to do otherwise. When others jumped into Dotcom and Technology, Buffett stayed on the sidelines saying that he doesn't understand it. Likewise, emphasis on management quality and more importantly something that people often don't associate with Buffett being a growth investor.

This book is not an eulogy to Buffett. Instead it is a well written, easy to understand and more importantly tells what you need to look at while making an investment. After reading this book, you don't need to listen to an analyst to see what he or she thinks about a particular stock. Instead you can go to a website like Wall Street Journal or Yahoo finance site to see how that particular stock fits into these core principle/framework that Buffett employs.

This book will not make you rich overnight. Instead, I strongly feel, no matter whether you are new to investing or a seasoned veteran, by reading this book it opens your mind to a whole new way of looking at investments and hopefully leads to a successful track record.

Remember some of the principles in this book don't just apply to investing. They apply to real life as well.

Get the book and enjoy the ride...It is worth it

- mitchell_gomez

very informative. to the point.

- kaliyah_price

Easy to read and understand. Great book!

- kingston_king

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