The Warren Buffett Stock Portfolio
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- Create Date：2021-10-23 05:52:13
- Update Date：2025-09-06
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- Author：Mary Buffett
- ISBN：0857208438
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Summary
Bestselling authors Mary Buffett and David Clark examine seventeen companies that Warren Buffett has bought for himself and for his holding company， Berkshire Hathaway， as durable investments and explain why these companies are once again selling at prices that offer great long-term growth prospects。Warren Buffett has always believed that the time to buy stocks is when nobody else wants them。 As we enter the fifth year of what many economists are calling the Great Recession， we find that some of the most amazing businesses--those with a durable competitive advantage--are trading at prices and price-to-earnings ratios that offer investors serious long-term moneymaking opportunities。 Pessimism about the banking situation in Europe and unemployment in America have created the perfect storm to bring stock prices down and present value-oriented investors some great possibilities。In Warren Buffett's world， as stock prices decrease， the prospects for investment increase。 Putting a number on those prospects tells Warren whether or not the stock is an attractive buy。 "The Warren Buffett Stock Portfolio "explains how to do just that--how to value companies and conservatively estimate the kind of future return that an investment is offering at its current market price。 Mary Buffett and David Clark look at stocks in Warren's portfolio as the basis for their analysis。After a brief history of Warren's investment strategy， Buffett and Clark explain how to interpret a company's per-share earnings and per-share book-value histories to quickly identify which companies have a durable competitive advantage and to project the compounding annual rate of return that an investment offers。 The authors provide case studies and evaluations of seventeen companies in Warren Buffett's portfolio。"The Warren Buffett Stock Portfolio "is a valuable companion to the other books in Buffett and Clark's successful series--"Buffettology， The Buffettology Workbook， The New Buffettology， The Tao of Warren Buffett， Warren Buffett and the Interpretation of Financial Statements， Warren Buffett's Management Secrets， "and "Warren Buffett and the Art of Stock Arbitrage。"
Reviews
Stratos Kirtsios
，
Oversimplified！ Would not recommend！ You can do better with other books。 Plus the picks praised at the time of writing are no longer good （if not terrible） by 2021。 Thats a good irony。 I would recommend only to read as a proof to keep in mind that the world changes fast。 VERY FAST！
Muath
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It's an interesting book， especially for the beginner。 However， if you read it after 2015， you will gain great knowledge regarding the warren investing firms， but you should be willing to do your calculation of the firms。 It's an interesting book， especially for the beginner。 However， if you read it after 2015， you will gain great knowledge regarding the warren investing firms， but you should be willing to do your calculation of the firms。 。。。more
Julie Burbank
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If you want to learn the secret of success。。。。well read this book。 Success takes time and patience。
Aasif A。
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In depth knowledge of how to share and what to look forward in stock in rolls。
James K Worswick
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The book is fairly repetitive on the quantitative analysis parts but I enjoyed the qualitative analysis aspects of this book。As for the quantitative analysis; they were hits and misses。 Plus， there are better books out there to learn quantitative analysis。 Another thing is for sure， time in the market with wonderful companies allows you to compound good wealth （even when the speculated market price for 2021 are misses for some）。 Plus it is luck/FED intervention that stocks in 2020-2021 have gone The book is fairly repetitive on the quantitative analysis parts but I enjoyed the qualitative analysis aspects of this book。As for the quantitative analysis; they were hits and misses。 Plus， there are better books out there to learn quantitative analysis。 Another thing is for sure， time in the market with wonderful companies allows you to compound good wealth （even when the speculated market price for 2021 are misses for some）。 Plus it is luck/FED intervention that stocks in 2020-2021 have gone up so high when we have just faced another Black Swan event recently （Covid-19）。 。。。more
Wenn
，
A handy reference book to look at the for examples of value income investing and examples of companies with moats。 Repetitive， yes， but the methods are repeatable afterall。 Examples of straightforward blue-chip shares investing vs deep dive into all of Warren Buffett’s secret sauce ingredients。
Angad
，
This is a great book， especially the first 30% of it。 The case studies are great but are monotonous and repetitive。 I finally created a dynamic excel sheet out of the formulas suggested by this book。 I would recommend this to people who are at initial phases of investing and would like to grow their knowledge on the stock market。
Adriyana Grotseva
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I started the book and then for 2 weeks couldn’t make myself finish it until today。 You should read the first 7-8 chapters （which is like 1/3 of the book）， where it talks overall re the calculations and definitions used in the book。 And first chapters it starts with interesting storied abt the creation of the companies。 Afterwards everything is very repetitive。 Copy pasted with different numbers for the enclosing calculations and short intro of the companies at start of each chapter。
Aeshwarya Jain
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The book is an excellent read for people starting out in stock analysis。 The simple and uniform structure will ensure that you are not lost in the jargonful world of finance。 However， people with pre-existing knowledge of stock markets may quickly skim through or even skip this one and move to a more advanced read。Read full review here: https://vanilla。finance。blog/2020/04/。。。 The book is an excellent read for people starting out in stock analysis。 The simple and uniform structure will ensure that you are not lost in the jargonful world of finance。 However， people with pre-existing knowledge of stock markets may quickly skim through or even skip this one and move to a more advanced read。Read full review here: https://vanilla。finance。blog/2020/04/。。。 。。。more
Ramon
，
It's good to know how Buffett had chosen his stocks and the way he evaluates them， but the book is very repetitive。 I felt like if I read 3 stock picks I'd absorb all the idea the book wants to share。 It's good to know how Buffett had chosen his stocks and the way he evaluates them， but the book is very repetitive。 I felt like if I read 3 stock picks I'd absorb all the idea the book wants to share。 。。。more
Vinay V
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An interesting way of evaluating the company’s future value including intangibles。
James Jr。
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Mary Buffett and David Clark have done an amazing job in explaining how and why Warren Buffett picks specific stocks or companies to invest in。 In this book， they actually take a historical look at 18 companies already in the Berkshire Hathaway portfolio and explains how Buffett went about selecting each one of those investments。 This is an excellent book when it comes to giving investors a better understanding of the investment methodology of the World's Greatest Investor also known as the Sage Mary Buffett and David Clark have done an amazing job in explaining how and why Warren Buffett picks specific stocks or companies to invest in。 In this book， they actually take a historical look at 18 companies already in the Berkshire Hathaway portfolio and explains how Buffett went about selecting each one of those investments。 This is an excellent book when it comes to giving investors a better understanding of the investment methodology of the World's Greatest Investor also known as the Sage of Omaha。 I really enjoyed reading this book！ 。。。more
Mindy
，
This book is good to get an idea of the stocks that Warren Buffett invests in。 It highlights the keys of the companies that interests Warren Buffett make investment。 However， the wordings are quite repetitive for each case study。
Abhishek Gupta
，
A good book for Warren Buffett’s followers。 How and why Warren picks his favourite companies is explained in detail and clarity。 What makes him hold his investments is also discussed along with some important financial metrics and ratios。Though it may seem that these concepts are monotonously discussed across the book， it's still highly recommended for those who follow value investing and long term holding。 A good book for Warren Buffett’s followers。 How and why Warren picks his favourite companies is explained in detail and clarity。 What makes him hold his investments is also discussed along with some important financial metrics and ratios。Though it may seem that these concepts are monotonously discussed across the book， it's still highly recommended for those who follow value investing and long term holding。 。。。more
Robert Grieco
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Excellent book for anyone first starting out in investing。 I found a wealth of good advice page after page。 Finished the book in no time。 Now I'm ready to jump into the market。 Excellent book for anyone first starting out in investing。 I found a wealth of good advice page after page。 Finished the book in no time。 Now I'm ready to jump into the market。 。。。more
Edwin
，
I echo marks view on the copypasta that was done on the formulaic approach to eps projections。 The biggest assumption was that earnings and growth could be extrapolated and the assumption was underpinned by the premise of "durable competitive advantage"。 I genuinely doubt the analysis would in fact be that simple。 That said the narration of the business gave pretty good insights into the basic pieces of information one should have before buying into an issue。 I echo marks view on the copypasta that was done on the formulaic approach to eps projections。 The biggest assumption was that earnings and growth could be extrapolated and the assumption was underpinned by the premise of "durable competitive advantage"。 I genuinely doubt the analysis would in fact be that simple。 That said the narration of the business gave pretty good insights into the basic pieces of information one should have before buying into an issue。 。。。more
Mike
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I feel like this book fell flat on its objective of giving insight into Warren's stock picks。 Started out okay but then introduced what seem to be contradictions without addressing them。 About halfway through it felt incredibly repetitive。 Only real insight I gained was the formula given to predict future earnings/return， but after the first few examples it was very copy&paste。 Also presumably not an exclusive concept to this book。Additionally， the actual manufacture of the book seemed shoddy。 U I feel like this book fell flat on its objective of giving insight into Warren's stock picks。 Started out okay but then introduced what seem to be contradictions without addressing them。 About halfway through it felt incredibly repetitive。 Only real insight I gained was the formula given to predict future earnings/return， but after the first few examples it was very copy&paste。 Also presumably not an exclusive concept to this book。Additionally， the actual manufacture of the book seemed shoddy。 Unevenly cut pages， never seen that before。 。。。more
Phang Beary
，
Easy to follow for beginner。
Deas
，
This book taught me a few interesting facts about the seventeen companies discussed， ex: the credit card industry practice of splitting the merchant fee with the acquiring bank and issuing bank and how American Express has a durable competitive advantage because it acts as the issuing bank， the acquiring bank and the network。Aside from these few interesting facts， the seventeen chapters discussing the actual company picks are about as cut and paste as I can tolerate。 Essentially， the last four p This book taught me a few interesting facts about the seventeen companies discussed， ex: the credit card industry practice of splitting the merchant fee with the acquiring bank and issuing bank and how American Express has a durable competitive advantage because it acts as the issuing bank， the acquiring bank and the network。Aside from these few interesting facts， the seventeen chapters discussing the actual company picks are about as cut and paste as I can tolerate。 Essentially， the last four pages of every chapter have this general format: a list of the last eleven or so years of earnings per share for the company， a paragraph "discussing" those earnings， a list of the last eleven or so years of book value per share， a similar paragraph to the one just stated for the book value， and then some type of "Buffett Buy Analysis" which， taking the prior years of earning history， projects what the stock price will be ten years later using the exact same calculation method each time。To give the reader of this review an idea of just how repetitive and formulaic these chapters are: all seventeen of the chapters have a sentence in their "Buffett Buy Analysis" section that reads: "let's use the Future Value Calculator located on the Internet at http://www。invesopedia。com/calculator。。。"， or some lazy permutation of this。 All seventeen chapters contain that hyperlink in FULL， mentioned in almost the exact same manner。The similarities in the last four pages of each of these seventeen chapters makes sixty eight pages out of this two hundred and eleven page book read identically， just with different numbers inserted in the exact same calculations over and over again。 Having a third of the book read identically is near the upper limit of what I can tolerate。 If you are thinking of giving this book a read take my advice: at MOST， skim through the last four pages of the seventeen company chapters as they are THAT repetitive， trust me because I've read them all。 。。。more
Marina
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Very fast read。 Good intro into Buffett's portfolio， as of 2011。 Very fast read。 Good intro into Buffett's portfolio， as of 2011。 。。。more
Gregorius Gerry Purnomo
，
Warren Buffett's value investing， Buffettology， looks for company with durable competitive advantage。 He believes those companies will provide great long-term return。 This book analyse seventeen companies that Warren Buffett invested in。 From the company's per-share earnings and historic per-share book value， it gives rough estimation of the stock's ROI。The analysis of the seventeen companies is repetitive， but at least you can find some interesting information on the company background。 Warren Buffett's value investing， Buffettology， looks for company with durable competitive advantage。 He believes those companies will provide great long-term return。 This book analyse seventeen companies that Warren Buffett invested in。 From the company's per-share earnings and historic per-share book value， it gives rough estimation of the stock's ROI。The analysis of the seventeen companies is repetitive， but at least you can find some interesting information on the company background。 。。。more
Vanessa
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I had to skim it。 There was just too much that was above my comprehension。 I took what I wanted out of the book。
Mark
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This book talks about the stocks Warren Buffett has in his portfolio in 2011。 Surprisingly， many of the stocks talked about in this book are the same ones I would pick if I was in the stock market。 However， the books goes into reasoning behind why Warren Buffett picks them， instead of a hunch。
Timothy Chklovski
，
Tip of the iceberg of selecting high-return stocks。In addition to brief summary of businesses and introducing the reader to discounting of future revenue stream and the notion of "equity bond"。 As its main dish， the book plays engages in: let's conservatively extrapolate past 10 years of financial performance to the next 10。While some "Buffett stocks" are probably the best stocks to do that to （KO， WFC）， it is a dangerous game to play， and grossly oversimplifies what I suspect Buffett thinks abo Tip of the iceberg of selecting high-return stocks。In addition to brief summary of businesses and introducing the reader to discounting of future revenue stream and the notion of "equity bond"。 As its main dish， the book plays engages in: let's conservatively extrapolate past 10 years of financial performance to the next 10。While some "Buffett stocks" are probably the best stocks to do that to （KO， WFC）， it is a dangerous game to play， and grossly oversimplifies what I suspect Buffett thinks about。 Eg is Walmart really continuing to grow at prior rates？ Do ConocoPhillips and Union Pacific mirror prior returns and margin expansion， or do their returns depend more on future oil and fuel prices （in case of Union Pacific through impact on market share vs trucking）？With that disclaimer， the book does illustrate the ability to obtain bargain prices in large and mega caps evidenced in Buffett's purchases。I enjoyed seeing the metrics of some of these companies， and using that to calibrate what a great purchase at a great price looks like based on the numbers -- despite the amount of capital being invested， Buffett （and any other market participant） is occasionally able to get very good compounders at good prices。A book clearly written quickly should be read quickly， or not at all， and overall this is clearly a book written quickly。 。。。more
Jivesh Goyal
，
Not applicable to Indian markets where fixed deposits can get you 11-14% returns
Robert Popple
，
This book is a must read for any serious stock market investor。 Warren is no run-of-the-mill investor， rather a brilliant strategic thinker who applies sound fundamentals to investing。 Forget speculation; it's not on Warren's radar screen。 This book provides the basic methodology of EPS and BVPS that he uses to size up the advisability of sinking money into a long term investment， vividly illustrated with seventeen worked examples。 A no-lose read！ This book is a must read for any serious stock market investor。 Warren is no run-of-the-mill investor， rather a brilliant strategic thinker who applies sound fundamentals to investing。 Forget speculation; it's not on Warren's radar screen。 This book provides the basic methodology of EPS and BVPS that he uses to size up the advisability of sinking money into a long term investment， vividly illustrated with seventeen worked examples。 A no-lose read！ 。。。more
Kate Meadows
，
This is very much a formula book with predictable， repetitive language。 But obviously， the writers are more about directly communicating practical information than they are about writing dynamic sentences。 This book is a primer for stock market and investor aficionados， where I rank myself as an amateur who wants to be more investor-savvy。 Reading this as an audiobook， I learned some big-picture facts: how Warren Buffet chooses his investments， why and when he buys into companies， things to look This is very much a formula book with predictable， repetitive language。 But obviously， the writers are more about directly communicating practical information than they are about writing dynamic sentences。 This book is a primer for stock market and investor aficionados， where I rank myself as an amateur who wants to be more investor-savvy。 Reading this as an audiobook， I learned some big-picture facts: how Warren Buffet chooses his investments， why and when he buys into companies， things to look for as you choose your own investments。 Most certainly， I feel like I have a foundation of knowledge now that I want to build on; this book motivates me to want to learn more and keep up that learning path。 It's the nitty gritty financial and economic details that went over my head。 Percentages and working with numbers and price to earnings ratios and after corporate initial rates of return。 I think had I read this book in its paper （yes， paper） form as opposed to the audio version， I would have walked away with a better understanding。 Even still， I got the "big picture。" 。。。more
Anna S。
，
This one with business suite on the cover I don't mind。 Not a 'selfie' pics。Actually I just read 10 chapter out of 24 but I think it's enough to get the majority of the idea。 So P/E and Book Value。 I never interested into copycating the way other people trading。 My first good book in swing trading is "Swing trading for dummies" where I found motto "don't let other people do the analysis for you"， not people in twitter， nor mailing list。 And then I read the hardcore "charting only not looking at This one with business suite on the cover I don't mind。 Not a 'selfie' pics。Actually I just read 10 chapter out of 24 but I think it's enough to get the majority of the idea。 So P/E and Book Value。 I never interested into copycating the way other people trading。 My first good book in swing trading is "Swing trading for dummies" where I found motto "don't let other people do the analysis for you"， not people in twitter， nor mailing list。 And then I read the hardcore "charting only not looking at fundamental" and I saw a lot of flaws with them too。 So I picked this book， so that I can see what is value investing。 So basically， it's a way to look at a very stable equity that acts pretty much like a bond - that yielded as a stock。 It requires 10 consecutive years uptrend of P/E and PBV and also; is a company that's trading something that is "crisis-proofed" like Coca Cola。 Generally companies that is so old that consumers doesn't bother to replace to another brand。 It must have a really good reason backing up its sales。 It pretty much as what I thought， but I don't think it can be applied in emerging market in Asia， like Indonesia。 Where foreign speculator with big cap money coming in and out so that we're pretty much dependent on how the feel about global market driven by war issue， FED， US economy， and so long。 So I believe there's so little company with 10 years uptrend track record。 Let alone that， I don't even know which one already trading 10 years ago。 Well。 All this got me confused so I think I'll hold back these days and try to do some eyeball-ing research。 Surely you dont need to read each chapter cos its all same same analysis over the other stocks。 。。。more
Efrem
，
This book does a very good job of boiling down Mr。 Buffett's investment strategy into a series of repeatable steps。 This approach makes it simple to apply （in some measure） the same techniques in one's own personal investment approach。 This book does a very good job of boiling down Mr。 Buffett's investment strategy into a series of repeatable steps。 This approach makes it simple to apply （in some measure） the same techniques in one's own personal investment approach。 。。。more
Xiong Jun
，