How to Think Like Benjamin Graham and Invest Like Warren Buffett

by Lawrence A. Cunningham

How to Think Like Benjamin Graham and Invest Like Warren Buffett wraps a lifetime of investing wisdom into one highly accessible package. An intelligent guide to analyzing and valuing investment targets, it tells investors what questions to ask, what answers to expect, and how to approach any stock as a skeptical, common-sense business analyst. Above all, this fast-paced book provides investors with the tools they need to thoroughly value any business in which they might invest. A common-sense approach to investing, this book *
Three things investors must get from a financial statement *
Valuation examples from today's top companies including GE, Amazon, Microsoft, and Disney *
Why prices deviate from actual values

Genres: Finance, Business, Money, Nonfiction

267 pages, Hardcover

First published January 6, 2001

About the author

Lawrence Cunningham, who goes by Larry, has published many books, including:

Berkshire Beyond Buffett: The Enduring Value of Values

The Essays of Warren Buffett: Lessons for Corporate America

Contracts in the Real World: Stories of Popular Contracts and Why They Matter

The AIG Story

He loves teaching (a prawf at GW), windsurfing, reading, and spending time with his wife and two daughters, preferably at the beach.

On Amazon, Cunningham has been ranked one of the top 100 authors in the category of business and investing.

Reviews

[Arif · Rating 3 out of 5]

First half of the book explains on how value investing still relevant, even now. How some fund managers who applied this paradigm returned very well. And how it evolves through ages, through booms and busts, and how it still achieve something that many intelligent investor knows it is a good road. Larry explains them well. I got some new knowledges, new clues, and reminders of what value investing is.

But the last chapter about evaluating management is a bit of opinion from the author. I guess Buffett can agree with his thinking, even some mentioned managers, were actually under Buffet's holding. But it's too far without giving some related stories on how Buffett or Graham themself think about that. I think it's about Larry's thinking on management rather than Buffett's thinking on management.

I enjoyed most of his writing, and I got some great ideas. Larry knows value investing well, and you get a lot of insight from his thinking, tellings stories of some great managers and prominent financial thinkers: Graham, Fisher, Lynch, Buffett, Keynes, Burr Williams and even Soros.

[Mohit Garg · Rating 2 out of 5]

Just Ok kinda book...
Read if u must

[Lucas Remmerswaal · Rating 3 out of 5]

Reading one Book at a time I got to writing my book "13 Habits that made me Billions"

[Dr Natalie · Rating 3 out of 5]

Still relevant today

[hemlet kiai · Rating 3 out of 5]

a good read on how to be a better investor.

[Daniel Gale · Rating 5 out of 5]

Full knowledge of both, might have to reread

[Dhiraj · Rating 5 out of 5]

Best book for Investing insights , you will get an idea about value investing frameworks and how markets actually work

[Tirath · Rating 3 out of 5]

A reasonable book. I haven't much like Cunningham's work.

It has a bit about how partially stupid the EMH is and how a valuation practice should be conducted.

There is an excellent parable in the 6th chapter which I chose to mark out and apart from that and a few other nuggets of wisdom from WB and BG, the book is thoroughly OK.

In fact, I chose to browse through most of the book because it seemed covered through my prior reads of other books. The last bit is just a drag though. Get it if you wanna get a good gist of how valuation ought to be conducted (practically, not mathematically) and what sets apart a good business from a bad one or from a good stock.

Important Notes:
Ch 6 has a brilliant parable of a man who wants to sell his apple tree
pg 117 about self deceit
150 - EVA and Graham's comments about market price determinations.

[Iyad Atuan · Rating 5 out of 5]

Timeless Investment Wisdom: Think Like Benjamin Graham, Invest Like Warren Buffett

How to Think Like Benjamin Graham and Invest Like Warren Buffett is an absolute must-read for anyone looking to dive into the world of intelligent investing. This book offers timeless investment advice, blending the wisdom of two legendary investors into a comprehensive guide. Gain a profound understanding of value investing and learn to navigate the markets with confidence. Don't miss out on this exceptional resource for financial success!

[Hundeschlitten · Rating 2 out of 5]

There are some interesting ideas here, but there is also a lot of dross. While Cunningham was correct to criticize those buying into the internet craze, much of his commentary is already dated. Also, the entire section raving about superior corporate managers is pretty much a waste of ink. Cunningham is best when discussing abstract market and mathmatetical concepts, which unfortunately comprises only about 20% of this book.

[Bill · Rating 3 out of 5]

Nice overview of how to think about stock valuation and when to buy. Does a good job of illustrating the difference between price and value. Doesn't do such a great job of highlighting finance metrics.

[D'em]

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