The Tao of Warren Buffett

By: Mary Buffett, David Clark

Narrated by: Anna Fields

Following in the tradition of the Tao Te Ching, that ancient Chinese classic text on human nature (as well as more popular interpretations, like the best-selling The Tao of Pooh) comes The Tao of Warren Buffett, a compendium of quotes from America's favorite businessman. Buffett's investment strategies and life philosophies are revealed in this collection of sayings, some of which have never been heard before. Warren Buffett can teach us all a few secrets of success.©2006 Mary Buffett and David Clark (P)2006 Tantor Media Inc.

Sound advice for every investor

Age old principles of money never fail. Great reminders, eye openers and warnings for the baby investor. Wise council for the seasoned investor.

The dao is more than Wu Wei

The book gives good business advice through a daoist lens. However I consider it to go greatly against accordance with the dao to own businesses that: spread propaganda, increase global obesity, kill union workers, and bankrupt the poor.

An insight into a value investor

This audio book was a fascinating look into the ideology of value investing. It changed my outlook on the stock market and helped to make sense of otherwise senseless market swings. If everyone invested like Mr. Buffett, there would be fewer millionaires as there would be fewer losers in the market.

The philosophy of an investment genius

This book provides insight into the philosophy that made Warren Buffett one of the most successful investors of all time. Great book

There are nuggets of wisdom here.

Any additional comments?

First off, Buffet doesn't believe in broad portfolio diversification. He chooses single businesses and invests in them big.

When Buffet describes how he chooses his investments, he basically says: choose a lasting business (such as razor blades, soda pop, chewing gum, etc), with a strong competitive advantage, great underlying economics, buy it when it's stock price is less than it's "real value," and invest big in it. This information is presented as if it's dead simple and anyone can get rich following this advice. While I believe it's good advice, personally I feel Buffet owes a lot more of his success to luck than he'd care to admit.

Aside from my skepticism of non-diversification, there are excellent nuggets of wisdom on running a business in this book. Plus I've always been interested in how great people think, and for that this book is worth a listen, but if you're looking for sound (and more in depth) investing advice for normal people, I suggest reading "A Random Walk Down Wall Street."