Warren Buffett

Warren Buffett on Business

Principles from the Sage of Omaha
Selected and arranged by Richard J. Connors

• Gebundenes Buch

Produktbeschreibung

The proven business principles of Warren Buffett

Warren Buffett is one of the most admired and prolific investors and managers in corporate America. Warren Buffett on Business is a timeless guide to strategies that can help you run a successful business. This book is a one-of-a-kind collection of Buffett's letters to the shareholders of Berkshire Hathaway written over the past few decades, and in a clear, simple style distills the basic principles of sound business practices.

Through Buffett's own remarkable words, this practical management handbook shares valuable insights on communicating with, and treating employees and shareholders fairly; responsible corporate governance; ethical behavior; patience and perseverance; admitting mistakes; and having a passion for work.
Contains priceless pearls of business and management wisdom, woven into a delightful narrative
Designed in an accessible manner and organized by business and management topics with strong lessons from Buffett
Provides direct, hands-on information on major topics concerning managers, entrepreneurs, business students, and anyone interested in business

Informative and inspiring, this unique book puts Warren Buffett's business beliefs in perspective.

Produktdetails

• Verlag: Wiley & Sons
• Artikelnr. des Verlages: 14550230000
• 1. Auflage
• Seitenzahl: 272
• Erscheinungstermin: 1. Dezember 2009
• Englisch
• Abmessung: 235mm x 157mm x 19mm
• Gewicht: 450g
• ISBN-13: 9780470502303
• ISBN-10: 0470502304
• Artikelnr.: 26860914

Autorenporträt

RICHARD J. CONNORS is a Registered Investment Advisor and owner of Connors Investment Management Company in St. Louis, Missouri. Beginning in 2006, he has presented a class on Warren Buffett at the Washington University in St. Louis Lifelong Learning Institute. He is a graduate of the University of Notre Dame Business School and the St. Louis University School of Law.

Inhaltsangabe

Acknowledgments. Introduction. Chapter 1 Shareholders as Partners.
"Although our form is corporate, our attitude is partnership." Chapter 2
Corporate Culture. "It takes 20 years to build a reputation and fi ve
minutes to ruin it. If you think about that, you'll do things differently."
Chapter 3 Corporate Governance. "At Berkshire, board members travel the
same road as shareholders." Chapter 4 Berkshire Managers. "They love their
businesses, they think like owners, and they exude integrity and ability."
Chapter 5 Communication. "As managers, Charlie and I want to give to our
owners the fi nancial information and commentary we would wish to receive
if our positions were reversed." Chapter 6 Acquisition of Nebraska
Furniture Mart. "We gave Mrs. B a check for $55 million and she gave us her
word. That made for an even exchange." Chapter 7 Acquisition of GEICO. "The
security I like best." Chapter 8 Acquisition of General Reinsurance. "Long
ago, Mark Twain said: 'A man who tries to carry a cat home by its tail will
learn a lesson that can be learned in no other way.' If Twain were around
now, he might try winding up a derivatives business. After a few days, he
would opt for cats." Chapter 9 The Assessment and Management of Risk.
"Don't think, however, that we have lost our appetite for risk. We remain
prepared to lose $6 billion in a single event, if we have been paid
appropriately for assuming that risk." Chapter 10 Executive Compensation.
"At Berkshire . . . I am a one man compensation committee who determines
the salaries for the CEOs of around 40 signifi cant operating businesses.
How much time does this aspect of my job take? Virtually none. How many
CEOs have voluntarily left us for other jobs in our 42-year history?
Precisely none." Chapter 11 Time Management. "When my mother got to be
eighty the most important thing in how long you live is how long your
parents live. I got her an exercise bike, put her on a strict diet, and
she's just piling up the years for me." Chapter 12 How to Manage a Crisis.
". . . I will attempt to do it in the manner of a fellow that has never met
a lawyer." Chapter 13 Management Principles and Practices. "Simple, old and
few." Chapter 14 Executive Behavior. "Many CEOs attain their positions
because they possess an abundance of animal spirits and egos. . . . When
such a CEO is encouraged by his advisors to make deals, he responds such as
would a teenage boy who is encouraged by his father to have a normal sex
life. It's not a push he needs." Chapter 15 Mistakes I've Made. "I can look
back on every year in terms of mistakes I've made. The dumbest mistake I
ever made was, will probably be in the future." Chapter 16 Personal
Investing. "Your goal as an investor should simply be to purchase, at a
rational price, a part interest in an easily understandable business whose
earnings are virtually certain to be higher five, ten, and fi fteen years
from now." Chapter 17 Buffett, the Teacher. "If I talk to 50-60 year olds,
basically they want to be entertained by my predictions and if I talk to 20
year olds or even 25 year olds, they ask me the questions on their minds. .
. . The idea is that they listen and you may change some lives." Chapter 18
Humor and Stories. "In the words of the prophet Mae West: too much of a
good thing is wonderful." Appendix A: Warren E. Buffett, A Chronological
History. Appendix B: Berkshire Hathaway Inc., An Owner's Manual,
Owner-Related Business Principles, January 1999. Appendix C: Berkshire
Hathaway Inc., Code of Business Conduct and Ethics. Appendix D: July 23,
2008, Memo to Berkshire Hathaway Managers. Appendix E: Berkshire Hathaway
Inc., Corporate Governance Guidelines, as Amended on February 27, 2006.
Appendix F: Intrinsic Value. Appendix G: The Superinvestors of
Graham-and-Doddsville. Appendix H: Berkshire's Corporate Performance versus
the S&P 500. Appendix I: Berkshire Hathaway Common Stock--Year-End Stock
Prices. Notes. About the Author