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Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage |  | Authors: Mary Buffett, David Clark
Publisher: Scribner
Category: Book
List Price: $24.95
Buy New: $13.52
as of 7/29/2010 06:18 CDT details
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Rating:  48 reviews
Sales Rank: 16568
Format: Deckle Edge
Media: Hardcover
Edition: 1
Pages: 224
Number Of Items: 1
Shipping Weight (lbs): 0.8
Dimensions (in): 7.4 x 5.9 x 0.9
ISBN: 1416573186
Dewey Decimal Number: 332.632042
EAN: 9781416573180
ASIN: 1416573186
Publication Date: October 14, 2008
Availability: Usually ships in 1-2 business days
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Product Description
With an insider's view of the mind of the master, Mary Buffett and David Clark have written a simple guide for reading financial statements from Warren Buffett's succccessful perspective. Buffett and 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 readers complete and master Buffett's simple financial calculations and methods for interpreting a company's financial statement, they'll be well on their way to identifying which companies are going to be tomorrow's winners -- and which will be the losers they should avoid 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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| Customer Reviews:
Showing reviews 1-5 of 48
 Financials Reports Made Easy July 18, 2010
Thomas Evans (Fallbrook, California)
Confused by financial reports? Ever want to understand them? Here's your chance.
This marvelous book spells out how Buffett picks winners for the long haul. What a contrast to the way Cramer picks stocks for investment. Obviously, both men have been hugely successful and it is well worthwhile to compare both strategies to find what will best work for you.
Most valuable is the dissection of a financial statement, line item by line item, with an explanation of the meaning of each term in plain language. With this knowledge one can evaluate an investment's possibilities, or assess a broker's recommendation.
Highly recommended for anyone with an IRA or brokerage account.
 Waste of money June 28, 2010
Investing_Library
I bought this book to add to my library hoping that there will be some useful information. 80%-90% of the book contains basic description of financial statements and partial financial statements. None of the given advice mention the notes to the financial statements in which all the funny stuff is published.
A good read of publications by Benjamin Graham would provide with useful information--if you are a value investor. Please be careful if you are going to read this book and invest any money because it will be dead money less the cost of this book.
In my opinion the author critizes investors like Baruch without any knowledge of their techniques. This proves the lack of knowledge and the insufficiency of research conducted by the author in writing about investing.
Good luck to anyone who finds this book useful. Others please try to find a better use for your money.
Accumulator Guide: What it takes to be competitive May 27, 2010
Roger Hamilton (Bali, Indonesia)
1 out of 1 found this review helpful
Warren Buffett is an Indigo Accumulator in the Wealth Dynamics / Wealth Spectrum system for entrepreneurs and investors. This book, however, is not just for people wanting to understand how Buffett analyses financial statements. It is a very useful insight for any entrepreneur looking to build lasting competitive value in their business, and who understands that competitive advantage needs to be as easily read in your financials as it is in your marketing.
 Very disappointed March 22, 2010
Q. Li (Texas)
This book is more like a copy and paste of some "reading financial statement for dummies" book. Or maybe worse, since the balance sheet on it is not even balanced. When I first saw that, I thought my b-school education was too out-of-date, and maybe today's companies were using unbalanced balance sheet (especially for Mr. Buffett to read)
Basically, the whole point in this book is, look for companies that have high gross profit margin, have low (or no) capital expenditure or R&D expenses, low leverage, and no dividend payment. Are these rules-of-thumb for never-fail investment? I really doubt that.
Not for Pros February 7, 2010
Xiang Furong (IL, USA)
This book is simple and straightforward, but as some people have mentioned, some part of the book is a little redundant. If you are pretty new to Finance, or if you happen to have the book at hand, or if you could borrow it from somewhere, you can make notes easily, maybe you don't have to buy it.
Showing reviews 1-5 of 48
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