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Warren Buffett And The Business Life Summary

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The SnowBall: Warren Buffett and the Business Life Author: Schroeder, Alice ISBN :9780553805093 Publication: New York, Bantam Books, c2008 url: https://www.amazon.com/Snowball-Warren-Buffett-Business-Life/dp/0553384619 Summary of the book I want to begin with this famous quote by Warren Buffett "Really successful people say no to almost everything." Warren Buffett is the epitome of success in many ways for a lot of people. Inspired by his words, I had to find out the real story and that made me to read Snowball which gives an in-depth information about his biography. Snowball brings up plenty of insights and revelations of Warren's life, but for me more than anything, this was a lesson in business investment and modeling. Modeling is one …show more content…

In the mid-80's, a group of economists came up with the theory of "Efficient Market Hypothesis," to explain the reasons why it was impossible for someone like Buffett to consistently outperform his competitors. Buffett unveiled their theory by naming eight competitors who had the same type of performance, and who were mentored by David Dodd and Benjamin Graham. If Buffett cared about his outer scorecard, he would have realized many losses. He didn't believe that children should automatically win their family's wealth. He also divided his family, applying the same principle to his own children and siblings. He shunned his adopted granddaughter in a letter saying that he had "not legally or emotionally adopted" her as a grandchild. Gifted in so many ways, and a business genius, his inner scorecard is definitely a winner, and for him, that's all that …show more content…

The information streams well. It may also not be super information-dense, and this is extremely candid. It is easy to assume that a person with Mr. Buffett's incredible talent and success has had an easy life. It is solidly written and well balanced between the personal and the more over-arching, this was a really good read. I also appreciate the fact that this is not a glowing depiction from start to finish, it seems like a fair portrayal, not overly filtered nor overtly determined for the negative. We also learn that he had many of the same difficulties that the rest of us have experienced in our daily

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