Project Description

book cover The Warren Buffett WayBy: Robert G. Hagstrom


  • 12 Investments in forty years made all the difference.
  • Warren doesn’t look at market conditions when buying companies.
    • Therefore, no technical analysis.
  • Warren only invests in stocks that will increase in earnings 5 to 10 years in the future.
  • He continuously changed his investment strategy over time, but he keeps the core valuation philosophy.
  • He says to buy stocks for less than two-thirds of their net assets value.
    • I might have an advantage, because I know how to value intangible assets.
  • Best advice to young people is learn about every single public company in the United States. Like WW does.
  • When adding a company to your port, only buy things that are better than what you already have.
    • No mention of when to get rid of companies.
  • Keep portfolio turnover between zero and 20%. It correlates with superior returns for every type of asset manager.
    • Outperformed tend to have low turnovers and concentrated holdings.
  • Buffet doesn’t sell when the mrkt is high. He looks at the mrkts mood and sells when ppl are euphoric.