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Warren Buffett And The Interpretation Of Financial Statements: The Search For The Company With A Durable Competitive Advantage (2008)

by Mary Buffett(Favorite Author)

3.78 of 5 Votes: 5

ISBN

1416573186 (ISBN13: 9781416573180)

languge

English

genre

Nonfiction

publisher

Scribner

review 1: This was one of the most redundant books that I've ever read. If I ever hear "durable competitive advantage" again or see the word "superrich", I will literally scream. She used the terms at least once a page. Near the end of the book, the author had the audacity to say "at the risk of being redundant" to express yet another oversimplified concept. This was unintentionally hysterical given that her redundancy was noticeable on page 5. Not only was this book redundant, it was poorly written. The sentences were incomplete and routinely ended in prepositions. There were also numerous instances in which she had reused paragraphs in later chapters, almost verbatim. In addition, there were annoyingly simplistic quips similar to the following - "Warren understands the secret ... moreto making money is to not spend money." Seriously?!?! I want my money back.To be sure, there were a few interesting nuggets of information with regard to Buffett's acceptable tolerances for various formulas. I would like to understand more about Buffett's approach to fundamental analysis. However, one thing is certain, I will never read another book by his former daughter-in-law again.
review 2: This is a good reminder for those equipped with accounting knowledge, and a great stater kit for those with none.Pro and seasoned investors may find this book elementary but this is definitely recommended to any newcomers who are in search of their first book on the subject of "accounting" or "investing". I find this is a good how-to book for people who are keen in breaking down the rocket science of reading a set financial statements and to ultimately learning how to distinguish a quality stock from others. I like how each chapter carefully highlights one crucial item of the financial statements (from “revenue" to “inventory" to “share capital"); what they are, what they mean to investors and what parameters Warren Buffett looks at when selecting quality stocks. The book also lays out answers to questions investors often ask. What level of gross profit margins is deemed strong? How does Warren view a company with high research and development expenses? How much debt can a company carry in Warren’s opinion? When is a good time to buy? When is a good time to sell? To top it all off, given that it is written in a very-easy-to-understand terms, you can easily finish the book in less that 3 hours (even if you may need more time to grasp the more technical bits and take down notes!) less

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