The Warren Buffetts Next Door: The World's Greatest Investors You've Never Heard Of and What You Can Learn From Them

by Matthew Schifrin

A practical guide for investors who are ready to take financialmatters into their own hands The Warren Buffetts Next Door profiles previouslyunknown investors, with legendary performance records, who areproving every day that you don't need to work for a hedge fund orhave an Ivy League diploma to consistently beat the best performingWall Street professionals.

These amazing individuals come from all walks of life, from aglobe drifting college dropout and a retired disc jockey to acomputer room geek and a truck driver. Their methods vary fromtechnical trading and global macro-economic analysis to deep valueinvesting. The glue that holds them together is their passion forinvesting and their ability to efficiently harness the Internet forcritical investment ideas, research, and trading skills.


The author digs deep to find the best of the best, even findingthose who are making money during these turbulent times
Contains case studies that will explain to you how these greatindividual investors find and profit from stocks and options.
Shows you how to rely on your own instincts and knowledge whenmaking important investment decisions
In an era when the best professional advice has cracked manyinvestor nest eggs and Madoff-style frauds have shattered investortrusts, the self-empowered investors found in The WarrenBuffetts Next Door offer an inspiring and educationaltale.

Genres: Finance, Nonfiction, Money, Business

224 pages, Hardcover

First published October 1, 2010

Reviews

[JS · Rating 4 out of 5]

This book's incredibly inane title is a transparent attempt to ride the coattails of both Buffett and Dr. Stanley, of The Millionaire Next Door. When I spotted this book in my local library, my first reaction was one of repulsion. Out of curiosity I flipped through it and some interesting passages soon caught my eye; I decided to give this skinny book a chance. Much of the content is forgettable, however, some of the anecdotes are interesting and the author provides food for thought pertaining to geoarbitrage, trader lifestyles, simple valuation heuristics, trader psychology, and the zeitgeist of the early 2000s.

[Alex Pal. · Rating 3 out of 5]

I don't think that I liked that book very much. It is similar to the Market Wizards, that is, it is a collection of profiles of successful investors/speculators/traders. The profiles of this book are from the marketocracy.com, 1-2 of them haven't really managed real money. Moreover, the book is full of typos, badly edited (which is always a bad sign for a book).

Perhaps the most valuable thing out of this book is the collection that it has to websites about investing.

[James Jr. · Rating 5 out of 5]

This is an outstanding book with a unique perspective. It details ten highly successful investors that are quite different in their investment methodologies. Their success proves that there is no one correct way to invest and yet their returns are almost unbelievable. This is an outstanding book. I wish I had discovered it sooner.

[Matt · Rating 3 out of 5]

This book is a great way to get you excited about investing as you hear about several successful investors. DO NOT use this book as anything than entertainment however. Read the Intelligent Investor and a number of other books on investing, as well as Blink/Fooled by Randomness or other probability books before you dive in.

[Mike Madden · Rating 2 out of 5]

The guys he profiles are TRADERS not investors. Extremely poor content. Not to mention dangerous if anyone wanted to follow their methods. The only guy worth a dang was the one who sold options for extra income. Man what a waste of a cool idea.

[Kevin Demel]

I didn't get a lot of valuable info from this book. The one thing I did learn is that there are some really good investors out there but you are going to have to make a full time job of it to be successful. There are some resources in the book that may be helpful to use.

[Yalvin Young · Rating 4 out of 5]

https://www.instagram.com/p/CKVEU5SgxPq/

[Kalle Wescott · Rating 5 out of 5]

Schifrin profiles 10 great investors - some of the leading equities investors on Marketocracy (www.Marketocracy.com) - who do not manage money professionally for others. Though a few of them are now professional investors, most of them are in occupations like a civil engineer, a truck driver, a computer lab manager, and all of them started out in other sectors (one of them was a vagabond for 30 years).

For each such investor, Schifrin tells their story, and gives their methodology, describes the tools they use and how they analyze investment opportunities, and provides a case study of a particular investment they made, and some of their writings and advice.

For example, Schifrin discusses Justin Uyehara, profiled here in Forbes:
http://www.forbes.com/sites/kenkam/20......

...Kai Petinen (www.kaipetinien.com), a Finnish computer lab manager in Ann Arbor: http://www.forbes.com/sites/kenkam/20...

... and Mike Koza, a civil engineer in Sacramento who only started managing his own investments when the professionals screwed up his account, and his wife Maria urged him to manage his portfolio himself: http://www.forbes.com/sites/kenkam/20...

The amazing thing is that Maria tells Mike that he's smart and should be able to make an IRR of 40% (which is off the charts and better than Warren Buffett), and he's actually made 34% IRR net of fees and commissions over a decade plus - absolutely amazing.

They all are great with math, and they all are looking for a bargain, among other shared characteristics: http://business.time.com/2010/12/09/q...

In any case, the book is very interesting and highly recommended.

[Sam · Rating 4 out of 5]

A short book with magazine article-like profiles of amateur investors who rely on various online sources (especially Marketocracy) & who have outperformed market averages. A good read if you're an amateur investor, or think you might want to be.

[Paul · Rating 5 out of 5]

I understand the results in this book are not typical, but I found it inspiring to read about people who put in alot of effort and can do well in investing.

[Oliver · Rating 5 out of 5]

awesome. anyone, who has as little time every week, can make money in the stock market.

[Pat Murphy · Rating 3 out of 5]

Pretty good. I happen to like reading about investing and economics. This is kind of another "The millionaire next door" book.