The Best 6 Books on Robert G. Hagstrom
The runaway bestseller-updated with new material included for the first time!
"The Warren Buffett Way outlines his career and presents examples of how his investment techniques and methods evolved and the important individuals in that process. It also details the key investment decisions that produced his unmatched record of performance." -from the Foreword by Peter S. Lynch Bestselling author, One Up on Wall Street and Beating the Street
". . . an extraordinarily useful account of the methods of an investor held by many to be the world's greatest." -The Wall Street Journal
"Robert Hagstrom presents an in-depth examination of Warren Buffett's strategies, and the 'how and why' behind his selection of each of the major securities that have contributed to his remarkable record of success. His 'homespun' wisdom and philosophy are also part of this comprehensive, interesting, and readable book." -John C. Bogle Chairman, The Vanguard Group
"It's first rate. Buffett gets a lot of attention for what he preaches, but nobody has described what he practices better than Hagstrom. Here is the lowdown on every major stock he ever bought and why he bought it. Fascinating. You could even try this at home." -John Rothchild Financial columnist Time magazine
In this updated second edition of Investing: The Last Liberal Art, Hagstrom explores basic and fundamental investing concepts in a range of fields outside of economics, including physics, biology, sociology, psychology, philosophy, and literature. He discusses, for instance, how the theory of evolution disrupts the notion of the efficient market and how reading strategies for literature can be gainfully applied to investing research. Building on Charlie Munger's famous "latticework of mental models" concept, Hagstrom argues that it is impossible to make good investment decisions based solely on a strong knowledge of finance theory alone. He reinforces his concepts with additional data and a new chapter on mathematics, and updates his text throughout to reflect the developments of the past decade, particularly the seismic economic upheaval of 2008. He has also added a hundred new titles to the invaluable reading list concluding the book.
Praise for the first edition:
"I read this book in one sitting: I could not put it down."―Peter L. Bernstein, author of Against the Gods: The Remarkable Story of Risk
"Elegant and irresistible. Robert G. Hagstrom makes the complex clear as he confidently crisscrosses through the disciplines of finance, biology, physics, and literature. The only way to understand investing better, [Investing] shows, is to understand the world better. Ideas spark off the page at every turn. This is simply a gem of a book."―James Surowiecki, New Yorker
"Investing is a brisk and engaging read, and it is a pleasure to be in the presence of Hagstrom's agile mind."―International Herald Tribune
Warren Buffett is the most famous investor of all time and oneof today’s most admired business leaders. He became abillionaire and investment sage by looking at companies asbusinesses rather than prices on a stock screen. The first twoeditions of The Warren Buffett Way gave investors theirfirst in-depth look at the innovative investment and businessstrategies behind Buffett’s spectacular success. The newedition updates readers on the latest investments byBuffett. And, more importantly, it draws on the new field ofbehavioral finance to explain how investors can overcome the commonobstacles that prevent them from investing likeBuffett.
New material includes:
- How to think like a long-term investor – just likeBuffett
- Why “loss aversion”, the tendency of most investorsto overweight the pain of losing money, is one of the biggestobstacles that investors must overcome.
- Why behaving rationally in the face of the ups and downs of themarket has been the key to Buffett’s investing success
- Analysis of Buffett’s recent acquisition of H.J. Heinzand his investment in IBM stock
The greatest challenge to emulating Buffett is not in theselection of the right stocks, Hagstrom writes, but in having thefortitude to stick with sound investments in the face of economicand market uncertainty. The new edition explains thepsychological foundations of Buffett’s approach, thus givingreaders the best roadmap yet for mastering both the principles andbehaviors that have made Buffett the greatest investor of ourgeneration.
Building a concentrated portfolio is critical for investmentsuccess. THE WARREN BUFFETT PORTFOLIO introduces the next wave ofinvestment strategy, called focus investing. A comprehensiveinvestment strategy used with spectacular results by Buffett, focusinvesting directs investors to select a concentrated group ofbusinesses by examining their management and financial positions ascompared to their stock prices. A strategy that has historicallyoutperformed the market, focus investing is based on the principlethat a shareholder's return from owning a stock is ultimatelydetermined by the economics of the underlying business.
Hagstrom explains in easy-to-understand terms exactly what focusinvesting is, how it works, and how it can be applied by anyinvestor at any level of experience. He demonstrates how Buffettarranges his stocks in a focus portfolio and reveals why this is asresponsible for his incredible returns as the individual stocks hepicks. Ultimately, Hagstrom shows how to use this technique tobuild and manage a portfolio to achieve the best possible results.
"Hagstrom's insights and observations bring a refreshing 'outside'business perspective to our industry."
--From the Foreword by William C. France, President, NASCAR
"From its origins in Daytona in the '50s to today's live networkbroadcasts for millions of devoted fans, Robert Hagstrom offers anin-depth look at the fastest-growing sport in the country. TheNASCAR Way explains how and why dozens of Fortune 500 companieshave been lining up to jump on board."
--Michael T. Hargrave, Senior Motorsports Manager, Anheuser-Busch,Inc.
"It is great to be associated with NASCAR, the France family, andfor me to get paid for what I love-to race! In The NASCAR Way, yousee a prime-time sport."
--Dale Earnhardt, 7-time NASCAR Winston Cup champion
"An accurate and entertaining perspective to the unbridledcapitalism that has built NASCAR into the #2 sport in America afterfootball."
--Bill Nielsen, Director, Promotion Development and Licensing,Kellogg USA, Inc.
"Hagstrom understands how our business works both on and off thetrack. His perception of our sport will have you racing through thepages on the edge of your seat. The book is definitely awinner!"
--Dale Jarrett, Winston Cup driver
A decade has passed since the book that introduced the world to Warren Buffett -- The Warren Buffett Way by Robert Hagstrom -- first appeared. That groundbreaking book spent 21 weeks on the New York Times Hardcover Nonfiction Bestseller list and sold over 1 million copies.
Since then, Warren Buffett has solidified his reputation as the greatest investor of all time -- becoming even richer and more successful, despite the wild fluctuation of the markets. How does this value investing legend continue to do it? That's where Robert Hagstrom and the Second Edition of The Warren Buffet Way come in. This edition is a completely revised and updated look at the Oracle of Omaha -- comprising Buffett's numerous investments and accomplishments over the past ten years, as well as the timeless and highly successful investment strategies and techniques he has always used to come out a market winner. This edition is especially accessible as Buffett's basic tenets of investing are presented and illuminated with relevant and up to date examples.
Order your copy today!