The Tao of Warren Buffett
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- Create Date：2021-10-23 05:52:21
- Update Date：2025-09-07
- Status：finish
- Author：Mary Buffett
- ISBN：1847390528
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Summary
'The Tao of Warren Buffett' is a compendium of quotes from one of the world's most high-profile businessmen， revealing Buffett's investment strategies and life philosophies。
Reviews
Library of
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Enjoyed this book。 Quick read with a lot of great concepts。 My takeaways below。 Mary Buffett was for 12 years the daughter-in-law of Warren Buffett and has since released several books on Buffett’s views on investing。 During years of family dinners， she has learned about investments， education， mentors， and life in general。 The word “tao” is Chinese and means “way”， “path” or “doctrine”。TWO RULES OF INVESTING。 Buffett has said that “Rule no。 1 is never lose money。 Rule No。 2 is to never forget r Enjoyed this book。 Quick read with a lot of great concepts。 My takeaways below。 Mary Buffett was for 12 years the daughter-in-law of Warren Buffett and has since released several books on Buffett’s views on investing。 During years of family dinners， she has learned about investments， education， mentors， and life in general。 The word “tao” is Chinese and means “way”， “path” or “doctrine”。TWO RULES OF INVESTING。 Buffett has said that “Rule no。 1 is never lose money。 Rule No。 2 is to never forget rule No。 1”。 You get rich by compounding capital over a long period of time。 There can be no zeros in the protocol。 In addition， time is the friend of a good investment outcome。 The earlier you start the better。 Buffett has joked “I made my first investment at eleven。 I was wasting my life up until then”。THINK BEFORE YOU ACT。 It is difficult to get out of a signed contract – so do all the thinking before you sign。 Think through all the scenarios， especially the negative ones。 Thinking long and carefully before signing saves a lot of future thinking time if the decision turns out to be wrong。”It is easier to stay out of trouble than it is to get out of trouble”YOUR REPUTATION IS YOUR MOST IMPORTANT ASSET。 Buffett is known for thinking about his reputation first。 It takes 20 years to build a good reputation but five minutes to ruin it。 If you think about it， you do things differently。”It’s best not to do something that you know is wrong， because if you are caught， the price you pay may be more than you can afford。”WATCH OUT FOR BAD HABITS EARLY IN LIFE。 A well-known quote from Buffett is “The chains of habit are too light to be felt until they are too heavy to be broken。” However， it is not his own words， but the British philosopher Bertrand Russell’s。 Early in life we can choose what habits we want。 Later in life， we are stuck with the habits we have picked when we were young。WATCH OUT FOR A CHERRY CONSENSUS。 In the stock market， you get paid to go your own way – provided the analysis is correct。 If you do as everyone else， you get what everyone else gets and can therefore not expect miracles。 If a stock is liked by everyone， it is expensive。 Then the upside is small if the business develops as expected， but the downside is large if something goes wrong。 Buffett has said “The less prudence which with others conduct their affairs， the greater the prudence with which we should conduct our affairs”。 On the same subject， he has also said that we should be fearful when others are greedy， and greedy when others are fearful。BASIC MATH IS ENOUGH。 According to Buffett， a successful investor only needs to be able to add， subtract， multiply and divide。 In addition， he needs to be fluent in calculations of percentages and probabilities。 When an investment is justified by Greek figures， it is not good – then the uncertainty is too great。INTEGRITTY， INTELLIGENCE AND ENERGY。 When Buffett hires someone， he wants them to have integrity， be intelligent and have a lot of energy。 He is famous for saying “And if you don’t have the first， the other two will kill you。” If he has all three， he can leave them to take care of themselves and expect a good job。DON’T POSTPONE LIFE。 There will come a time when you should start doing what you really want。 There are many who take job after job because it will look good on their CV。 This behavior is only good for a while。 Doing it for too long is like saving up sex for later in life。DON’T LOOK BACK。 Buffett has said that he never looks back。 We all make mistakes and there is so much to look forward to in the future。 Why then suffer from previous bad decisions that we still cannot do anything about。 We can only live our lives forward。ACCEPT MISTAKES。 If you never make any mistakes， you never make any decisions。 Mistakes are part of the game。 Those who can make decisions will lead and those who cannot be led。 Part of decision making is making mistakes。 If you make twelve decisions in one day， something will be wrong。 Buffett， on the other hand， always wants to be able to explain his mistakes， so he makes no decisions if he does not understand the situation。 。。。more
Juan Romero
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Easy to read collection of investing tips。 The book presents Buffet's perspective towards investing: a rational activity that focuses on finding businesses with great long-term economics at a fair price。 Keeping these investments for a long time will make you rich， just as Warren。 Also， it is interesting the critic towards the stock market and buy-sell activity， described as folly by the authors。 Easy to read collection of investing tips。 The book presents Buffet's perspective towards investing: a rational activity that focuses on finding businesses with great long-term economics at a fair price。 Keeping these investments for a long time will make you rich， just as Warren。 Also， it is interesting the critic towards the stock market and buy-sell activity， described as folly by the authors。 。。。more
Gus Aragón
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De lectura rápida， nada relevante que ya no se conozca de Warren。
Robert
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Simple and direct repackaging of short statements from Warren Buffett， it might not make you wise， or rich， but it might make you think。
Kat Main
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Although these books aren’t written by the man himself， there is some good content in this book for the beginning advisor。 If anything， it’s a kind of daily devotional for traders （without any religious sentiments）。 It gives good advice for making sustainable choices in your investments。
Marcelo Fernandes
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Amazing book for investors but a little repetitive。。
Ronen David
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This review has been hidden because it contains spoilers。 To view it， click here。 ספר חמוד בסך הכול。ניתן לתמצת במשפט אחד - קנה היום， החזק לפחות 30 שנים ואז תמכור， או שלעולם לא תמכור， וכך תהפוך למיליארדר。。。
JD' D'Souza
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This was #100 book I read during pandemic。
Alexander Bojacá
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Bueno y deja abierto a querer saber más Si bien embarca varios aspectos relevantes de Warren y sus fundamentos， citas memorables de él me queda la sensación de que se le da vueltas a los mismos puntos。Aun así es un libro que abre la mente y deja enseñanzas generales muy buenas y que deben ser complementadas con otra literatura。
Chris Tin
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The book discusses a lot about how Warren's see things differently than the ordinary people。 If you have been a big fan of Marry Buffett， well probably it is not a fascinating read。 But， you can still learn a lot about Warren's perspective， as Mary's book rarely explains why he think about things in a certain way。 The book discusses a lot about how Warren's see things differently than the ordinary people。 If you have been a big fan of Marry Buffett， well probably it is not a fascinating read。 But， you can still learn a lot about Warren's perspective， as Mary's book rarely explains why he think about things in a certain way。 。。。more
Anh Nguyen Duc
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If you are a fan of Warren Buffet， it'll be your Bible。If you are not， it requires more specific explanation to truly make sense。 If you are a fan of Warren Buffet， it'll be your Bible。If you are not， it requires more specific explanation to truly make sense。 。。。more
Znail
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"any way the wind blows"A simple concept of Buffett。 Easy to listen but difficult to do that。 "any way the wind blows"A simple concept of Buffett。 Easy to listen but difficult to do that。 。。。more
Renata Kumala
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Simple easy read。 Just emphasising on the fundamentals of Buffet’s principles。
Surbhi Jain
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Investing has never been so easy。Book with a lot of knowledge and takeaways。Buffet's wife Mary so logically explains the investing tips in the best crisp way possible。Thanks to Mary Buffet for compiling and coming up with the such a great read。 Investing has never been so easy。Book with a lot of knowledge and takeaways。Buffet's wife Mary so logically explains the investing tips in the best crisp way possible。Thanks to Mary Buffet for compiling and coming up with the such a great read。 。。。more
Ajay Sarup
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The simplest book in investing。 Thanks to Mary for writing great tips in such simple words。Trading was never so easy。Takeaways would make you rich in case you feel that you really want to make money。Warren has learnt a lot from Benjamin Graham but applied his own fundamentals。For example : Warren says to invest when the stock price is less than the long economic value and actual worth of the company。 Stock market always shows the short term projections of any given company。Don't go on stock pric The simplest book in investing。 Thanks to Mary for writing great tips in such simple words。Trading was never so easy。Takeaways would make you rich in case you feel that you really want to make money。Warren has learnt a lot from Benjamin Graham but applied his own fundamentals。For example : Warren says to invest when the stock price is less than the long economic value and actual worth of the company。 Stock market always shows the short term projections of any given company。Don't go on stock pricing and rather investing is put your money in a stock and watch it grow。 。。。more
Rama Krishna Reddy
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Good collection of quotes but I frequently seem to disagree with the authors' interpretation of those quotes。 The explanations are repetitive and miss detail， and sometimes are wrongly interpreted too。 This was the case with "The Tao of Charlie Munger" too。 Makes you wonder of the quality of the other books from the authors。 Good collection of quotes but I frequently seem to disagree with the authors' interpretation of those quotes。 The explanations are repetitive and miss detail， and sometimes are wrongly interpreted too。 This was the case with "The Tao of Charlie Munger" too。 Makes you wonder of the quality of the other books from the authors。 。。。more
Shawn Lacagnina
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Nothing too deep here。。。 and not meant to be。 A simple read。 A quote per page with a little of his philosophy behind it。 Again， nothing too deep。。。 simple and straight forward very much like Warren Buffett。
Thomas
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Wisdom from the wise on investing， life， and business。
Sheri Robinson
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Should have read this in my 20's。 Although in my 20's I had no money to invest。 Should have read this in my 20's。 Although in my 20's I had no money to invest。 。。。more
Andres Poiche
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Muy buen libro de uno de los mejores inversores de los últimos tiempos， donde el comparte sus principios que utiliza a la hora de invertir。
Mario Souza
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Interessante， mas repetitivo。
Lautaro Lobo
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*Some takeaways at the bottom of the review。*A little bit repetitive， and sometimes contradictory。 Just like the Bible。Actually， I've found just one thing contradictory: "you need to know accounting to properly estimate the intrinsic value of a company， and to understand earning reports and stuff"。 But then says that "knowing how to multiply， add， subtract and calculate percentages it's enough"。 I guess accounting is that simple ¿？ lolAnyways， it has good advice， it's really helpful for new inve *Some takeaways at the bottom of the review。*A little bit repetitive， and sometimes contradictory。 Just like the Bible。Actually， I've found just one thing contradictory: "you need to know accounting to properly estimate the intrinsic value of a company， and to understand earning reports and stuff"。 But then says that "knowing how to multiply， add， subtract and calculate percentages it's enough"。 I guess accounting is that simple ¿？ lolAnyways， it has good advice， it's really helpful for new investors。 The book helps the reader to gain a broader perspective of value investing， to clarify ideas。It's not a technical guide on fundamental analysis。 It's a bunch of quotes from Warren Buffet， sometimes with proper explanation and context。My top takeaways:* Be disciplined。* Value investing is long term。* Buy when it's cheap and everyone is selling， sell when it's expensive and everyone is buying。* Money isn't happiness， neither the best thing in life。 Relationships are。* Be around of people that is better than you， so you can learn from them。* Buy on recessions/when the market falls。* Buy stocks from a company that has a business so solid that even an idiot CEO can't screw up。* Buy undervalued stocks。* Know the business you are investing in。* Diversification is the shield of the fools。 If you are ignorant， diversify。 If your agent tells you to diversify more and more， he's an ignorant， beware！* Agents win with each transaction you make， that's why they don't like the long term strategy。 Beware of that。 Don't change your stocks each month。 It's a long term game。 * Don't listen to rumors/whispers。 Don't。Nice one =） 。。。more
Justin Blount
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Top form， listened thrice， plan to revisit and listen every year
Lucie
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I was a bit sceptical about this book as it seemed as just a way to sell more books using the name of Warren Buffett and the trendy word "tao"。 However， if you don´t have any knowledge about Warren Buffett and you can borrow the book from library or friend） it is certainly worthy as you get to know the basic ideas behind Warren´s investing strategies。 The ideas repeat itself often so you will certainly understand them and remember them。 I was a bit sceptical about this book as it seemed as just a way to sell more books using the name of Warren Buffett and the trendy word "tao"。 However， if you don´t have any knowledge about Warren Buffett and you can borrow the book from library or friend） it is certainly worthy as you get to know the basic ideas behind Warren´s investing strategies。 The ideas repeat itself often so you will certainly understand them and remember them。 。。。more
Yasir Khan
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Read it in 2 hours。 Very simple to read。
AlGermene
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a book for when you become a multi millionaire and just have too much money and don't know what to do with it a book for when you become a multi millionaire and just have too much money and don't know what to do with it 。。。more
jaime Villalba Oyola
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Excelente libro。
Ujjval Patel
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Quick flip。 full of cliches but nice。
Michael G
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A little repetitive， but， because short and full of many of Buffett’s best sayings， this is a worthwhile trove of wisdom。 A nice book to peek at once in a while to reinforce good investing （and life） habits。 Enjoyable。
Pradeep Kumar
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