When Warren Buffett Speaks. . . people listen. "If people want to improve their investing skills, it has to help to study how the Master does it. This short book outlines Buffett's philosophy and techniques." --Peter S. Lynch, Fidelity Investments
"Common sense with a deft irony . . ." --John C. Bogle, founder of The Vanguard Group and author, The Little Book of Common Sense Investing
"It was Warren Buffett's thoughts and philosophy that first captivated investors. Janet Lowe has done us all a great service by collecting and arranging Warren Buffett's wit and wisdom in an easy-to-read and enjoyable book." --Robert G. Hagstrom, Portfolio Manager, Legg Mason Growth Trust mutual fund, and author, The Warren Buffett Way, Second Edition
"A must-read. Buffett's wit and wisdom is a roadmap for anyone looking to succeed in business, investing, and life." --Steve Halpern, Editor, www.thestockadvisors.com
A great compilation of Warren-isms, presented clearly for all to understand. Like Warren himself, the book is plain spoken and covers a myriad of topics. This book is easy to pick up at almost any point. I feel like I learned some very helpful investing, as well as, life lessons.
Some tremendous nuggets of wisdom from the worlds greatest investor. I stopped many times throughout this book to ponder a witty comment and found many times something deeper than what appeared at the surface. Many of us would do ourselves good if we simplified our way of thinking. The world often tells us we need more sophistication, a special genius or knowledge in order to become successful. Rather Warren Buffett has found and proved that common sense and sound principles make us more the genius.
If you read this take the time to stop and investigate his comments and think about your own intellectual framework. Are you makings things to complex and sophisticated?
This was my first book on Warren Buffett! There were lots of great quotes and interesting stories associated with the quotes. Enjoyed it and was a quick light read with some humor thrown in. Recommend it!
I thought this book was worth the read and had some good insights. While I don't believe in the entitlement mentality, Buffett made one of the best arguments I've heard for the redistribution of wealth. He believes that society creates the environment where certain talents have more value. Those same talents in a different society could be worthless (i.e. being good at basketball can make you lots of money, but being a good teacher or nurse doesn't give you that same money potential in our current society). Following this train of thought, the society that makes a certain talent valuable has some ownership in that value.
Here's a portion of a Buffett quote that was further expanded in this book:
Take me as an example. I happen to have a talent for allocating capital. But my ability to use that talent is completely dependent on the society I was born into. If I'd been born into a tribe of hunters, this talent of mine would be pretty worthless. I can't run very fast. I'm not particularly strong. I'd probably end up as some wild animal's dinner.
"Chains of habit are too light to be felt until they are too heavy to be broken."
This is an excellent little book for gaining insight into the philosophy, thought processes, and methods of Warren Buffet.
While I was expecting a somewhat more serious, textbook-like approach to Buffet, this light-hearted overview of his personality and wisdom was a pleasant surprise! Easy to read, but still insightful.
The balance of direct quotes from Buffet, complemented by the personal experience of the author, made for an effective overview of Buffet as a person, businessman, and investor.
This book has been on my list, primarily because I am interested in WB's success. I found it interesting and I found sound advice that is relevant to my current goals.
Well organized collection of Buffett's wisdom over the years. There are a few contradictions, but I guess everyone changes their mind on things over w long enough career. I enjoyed it.
Overall: The Table of Content is overall the summary of the ideas listed in the book.
Directly from the book (my comments in brackets):
Pg. Quoted 22 Like Wayne Gretzky says, “go where the puck is going, not where it is”. (Invest the same way an expert plays hockey). 28 Cultivate good character: “Chains of habit are too light to be felt until they are too heavy to be broken”. 33 Choose your heroes well: “You are lucky in life if you have the right heroes. I advise all of you, to the extent that you can, pick out a few heroes. There’s nothing like the right ones” Buffett says. 68 Work with good people: “somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without the first, you really want them to be dumb and lazy”. 73 Know when to quit: If at first you do succeed, quit trying. 75 Communicate well: “If you understand an idea, you can express it so others can understand it”. (helpful to improve the writing skills). 86 Graham said you should look at stocks as small pieces of the business. Look at market fluctuations as your friend rather than your enemy – profit from folly rather than participate in it. And in (the last chapter of The Intelligent Investor), he said the three most important words of investing: ‘margin of safety’. I think those ideas, 100 years from now, will still be regarded as the three cornerstones of sound investing. 95 Meet Mr. Market: “The stock market should be viewed as an emotionally disturbed business partner, Graham said. This partner, Mr. Market, shows up each day offering a price at which he will buy your share of business or sell you his share. No matter how wild his offer is or how often you reject it, Mr. Market returns with anew offer the next day and each day thereafter. Buffett says the moral of the story is: Mr. Market is your servant, not your guide. 95 I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years. 96 In the short run, the market is a voting machine; in the long run, it is a weighting machine. 100 It doesn’t have to be rock bottom to buy it. It has to be selling for less than you think the value of the business is, and it has to be run by honest and able people. But if you can buy into a business for less than it’s worth today, and you’re confident of the management, and you buy into a group businesses like that, you are going to make money. 106 Risk comes from not knowing what you are doing 113 You have to think for yourself. It always amazes me how high-IQ people mindlessly imitate. I never get good ideas talking to other people. 114 Understanding the fundamentals of accounting is a form of self-defense: “When managers want to get across the facts of the business of you, it can be dune within the rules of accounting. Unfortunately, when they want to play games, at least in some industries, it can also be done within the rules of accounting. If you can’t recognize the differences, you shouldn’t be in the equity-picking business”. 118 Build a circle of competence: “If I were looking at an insurance company or a paper company, I would put myself in the frame of mind that I had just inherited that company, and it was the only asset my family was ever doing to own. What would I do with it? What am I thinking about? What am I worried about? Who are my competitors? Who are my customers? Go out and talk to them. Find out the strengths and weaknesses of this particular company versus other ones. If you have done that, you may understand the business better than the management”. 119 Anybody who tells you they can value, you know, all the stocks in value Line, and on the board, must have a very inflated idea of their own ability because it’s not that easy. But if you spend your time focusing on some industries, you’ll learn a lot about valuation”. 120 The most important thing in terms of your circle of competence is not how large the area of it is, but how well you have defined the perimeter. If you know where the edges are, you are way better off than somebody that’s got one that’s five times as large but they get fuzzy about the edges”. 121 Read Read Read: How does Buffett determine the value of a business: “Do a lot of reading”. I read annual reports of the company I am looking at and I read the annuap reports of the competitors—that is the main source of material. When he first took an interest in GEICO, this is what buffett did: “I read a lot. I was over at the library. I started with Bests’ (insurance rating service) looking at a lot of companies, reading some books about it, reading annual reports, talking to (insurance specialists), talking to managements when I could”. 126 Know what you are looking for: Birkshire Hathaway’s advertisement: Here’s what we are looking for: 1. Demonstrated consistent earning power (future projections are of little interest to use, not are “turnaround” situations. 2. Businesses earning good returns on equity while employing little or no debt. 3. Management in place (we can’t supply it). Note: A subtle way of saying good management in place 4. Simple businesses (if there’s a lot of technology, we won’t understand it). 5. An offering price (we don’t want to waste our time or that of the seller by talking, even preliminary, about a transaction when price is unknown). Note: Luckily for small investors, Mr. Marker shows up everyday with an offering price. 128 Read Ben Graham and Phil Fisher, read annual reports, but don’t do equations with Greek letters in them. 130 The quest for quality and the need for frugality need not cancel each other out. 132 Face Facts: “Don’t take the performance of your stock personally. After all: “A stock doesn’t know you own it”. 143 Frankly, no airline is going to be a wonderful business (to invest in). 144 Learn from your mistakes: The first step to recover is to stop doing the wrong thing: “It’s an old principle. You don’t have to make it back the way you lost it”. 146 Buy Storybook stocks: We like great companies with dominant positions, whose franchise is hard to duplicate and has tremendous staying power or some permanence to it. 148 Seek Excellent Companies: “You should invest in a business that even a food can run, because someday a fool will”. “How much more fruitful is it for us to think about whether the product is likely to sustain itself and its economics than to try to be questioning whether to jump in or out of the stock?” “Let’s say you were going away for 10 years and you wanted to make one investment and you know everything you know now, and you couldn’t change it while you’re gone. What would you think about?”.
In a world where the billionaires seem to be expanding their power and influence and exhibiting a lack of concern for the rest of the world, Warren Buffett is a breath of fresh air exception. He has clearly stated that most of his fortune will be given away and he had made what is for the uber-wealthy some rather unusual statements. He is on the record as saying that short term capital gains (less than a year) should be very heavily taxed (over 90%) in order to strongly encourage investors to invest on a more long-term basis. He has also lamented that his secretary pays a higher rate of taxes on her income than he does. Buffett’s investment strategy is well known and he has repeatedly stated it publicly. He examines a company, looks for long-term potential earnings and invests to hold for the long-term. That strategy has served him very well, the holdings of his investment firm have dramatically increased over the decades. That strategy is articulated again in this book, so the wisdom part in the title is a given precondition. However, the inclusion of wit in the title is justified, Buffett demonstrates that he keeps his success in perspective and does not hesitate to accept and acknowledge what he has done wrong in the past. He also gives credit to others and some of his lines are pretty funny. It is hard to picture many of the other billionaires coming up with jokes of this caliber. While the book is positive in the treatment of Buffett, it does not come anywhere close to being laudatory. It is a quick and very satisfactory read, well worth the effort to learn a sound investment strategy.
5th Read of 2025: Jack Welch Speaks – Wit and Wisdom from the World’s Greatest Business Leader
Few leaders have influenced modern business thinking as deeply — or as controversially — as Jack Welch. His journey from an engineer at GE to transforming it into one of the world’s most valuable companies is nothing short of extraordinary.
What struck me most in this read is his unapologetic approach to leadership — making tough calls, driving meritocracy, and rewarding performance while being brutally honest about the challenges of corporate life. His philosophy of “Be candid, face reality, and act fast” continues to resonate in today’s ever-evolving business environment.
Of course, Welch’s life wasn’t without controversy — but perhaps that’s what makes his story more human. It reminds us that leadership isn’t about perfection; it’s about conviction, resilience, and the courage to make hard choices.
Coincidentally, I happen to share my birthday with Jack Welch — a small but special connection to a man whose leadership playbook continues to inspire generations of business thinkers.
GREAT INVESTMENT OPPORTUNITIES COME AROUND WHEN EXCELLENT COMPANIES ARE SURROUNDED BY UNUSUAL CIRCUMSTANCES THAT CAUSE THE STOCK TO BE MIS-APPRAISED.
Buffett describes his style at 85% Graham and 15% Fisher.
Projections are no good. They are put together by people who have an interest in a particular outcome and therefore have a subconscious bias. They are unintentional lies which are the worst kin as the forecaster often believes them himself.
If you let yourself be indisciplined on the small things you would probably be undisciplined on the large things also.
There is nothing like writing to force you to think and to get your thoughts straight.
A pleasant little book, mostly bonbons for dilettante investors, kind of sugary like those colas Warren loves so much. He's corny but incisive; a conservative who thinks he's part bleeding heart liberal. Right. In shark's skin. People love him, and the stock market degenerates worship him. Well, he's one of the world's richest men, so I guess they would. Personally he reminds me of Doyle Brunson, former world champion poker player. Buffet is fast and very intelligent, but likes to appear country. He hates pretension and likes to make light of himself. He could run for office and win. Not much wisdom here, except second hand. As a philosopher, he's a kind of Will Rogers, and like Rogers an American original.
--Dennis Littrell, author of “The World Is Not as We Think It Is”
When Warren Buffett Speaks. . . people listen. "If people want to improve their investing skills, it has to help to study how the Master does it. This short book outlines Buffett's philosophy and techniques." --Peter S. Lynch, Fidelity Investments
"Common sense with a deft irony . . ." --John C. Bogle, founder of The Vanguard Group and author, The Little Book of Common Sense Investing It's very true, when Buffett speaks most take heed. Over his career, Warren and his partner Charlie Munger have accomplished an investing record few could ever duplicate. Warren will say in many cases they got lucky, but his record speaks of more than just "luck" Janet Lowe has compiled a biography of sorts containing Warrens views and ideas on investiong, he admits to his mistakes and his misses. Overall this was an entertaining and enlightening read.
I don’t try and leap over 7 foot bars. I look for 1 foot bars that I can step over.
When you’re number one you spend your whole life looking over your shoulder at who is coming after you and if you’re number two, you have to explain to your family while you’re a loser
If you let yourself slack on the little things, it is likely you will slack on the big things
With enough information and $1 million you can go broke in a year
The three most important words to the intelligent investor are margin of safety
Know, the difference between price and value. Price is what you pay and value is what you get.
It’s only when the tide goes out that you realize who’s been swimming naked
Why should I invest in real estate when the stock market is so easy
The book has a pretty good selection of quotes from Warren on a wide range of topics, but primarily business and stocks. He comes across as a smug braggart and doesn’t sound very wise in general. Also, his stock and business quotes aren’t insightful. It has generic advise like “pick companies with good management” or a good business etc: but how one is to know if the management or the business is good is not explained. Peter Lynch’s books give more useful tips for the individual investor. I am now convinced I am not interested in Warren Buffett’s personality although I have no doubt he is incredibly capable of reading the stock market and making money off of it.
For me, this was just tedious, painful even, to get through. Of course, if you are looking for investment advice, there are some good nuggets here, but generally, Ugh. Like taking marriage advice from someone divorced three times is what I felt this was when discussing most anything outside money. Gave myself permission to just scan the last 80 pages or so...
As an audiobook, it becomes quite boring. Especially if you've read a lot on Buffett before, because it doesn't present anything new but merely quotes famous sayings by or about him. As a book to put by your bedside (or why not by the toilet?) I think it would make for great reading, one short sequence at a time. Buffett is a master of enlightening one-liners after all.
I listened to the audio book which has been in my reading list for some time and I enjoyed it. I have read Snowball, the book about Buffett mentioned at the end of this book and enjoyed that too.
This book and Buffett are both witty and at times I chuckled and at times I laughed hysterically.
I learned some good investing and business lessons too.
My husband is a big Warren Buffet fan, and gave me this book to read. After reading it, I now have a solid background on Warren Buffet and a good understanding of who he is as a person. The book also has some interesting and pertinent quotes as well, that besides being useful in life, can help with investing if you have an interest.
Nothing really new that you’ll learn if you’re already a Buffett fanatic. Some useful anecdotes and quotes, but I was expecting a compendium of Uncle Warren wisdom in my ears. Instead, the author has lots of discursions on Buffett’s philanthropy and his children’s foundations in a hagiographic lens.
well articulated, decently penned, Thanks to Janet Celesta Lowe, I recommend this book to all those people who wish to work towards understanding Buffet's Investment fashion and his general perspective about living life in a less fussy and more productive manner,
A collection fo some of his sayings and insights. Pretty dynamic read. If you're interested on more in-depth content, i would recommend something else. However if you are new to the world of investing, it's and interesting read.