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Warren Buffett and the Interpretation of Financial Statements Audiobook

Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage

Mary Buffett and David Clark clearly outline Warren Buffett's strategies in a way that will appeal to newcomers and seasoned Buffettologists alike. Inspired by the seminal work of Buffett's mentor, Benjamin Graham (The Interpretation of Financial Statements, 1937), this book presents Buffett's interpretation of financial statements with anecdotes and quotes from the master investor himself.
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Publisher's Summary

Mary Buffett and David Clark clearly outline Warren Buffett's strategies in a way that will appeal to newcomers and seasoned Buffettologists alike. Inspired by the seminal work of Buffett's mentor, Benjamin Graham (The Interpretation of Financial Statements, 1937), this book presents Buffett's interpretation of financial statements with anecdotes and quotes from the master investor himself.

Potential investors will discover:

  • Buffett's time-tested dos and don'ts for interpreting an income statement and balance sheet
  • Why high research and development costs can kill a great business
  • How much debt Buffett thinks a company can carry before it becomes too dangerous to touch
  • The financial ratios and calculations that Buffett uses to identify the company with a durable competitive advantage - which he believes makes for the winning long-term investment
  • How Buffett uses financial statements to value a company
  • What kinds of companies Warren stays away from no matter how cheap their selling price

    Once audiences complete and master Buffett's simple financial calculations and methods for interpreting a company's financial statement, they will be well on their way to identifying which companies are going to be tomorrow's winners - and which will be the losers that should be avoided at all costs.

    Destined to become a classic in the world of investment books, Warren Buffett and the Interpretation of Financial Statements is the perfect companion volume to The New Buffettology and The Tao of Warren Buffett.

    ©2008 Mary Buffett and David Clark; (P)2008 Tantor

  • What Members Say

    Average Customer Rating

    4.2 (124 )
    5 star
     (60)
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     (38)
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    Overall
    4.2 (87 )
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    Story
    4.3 (88 )
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     (14)
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     (2)
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     (1)
    Performance
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    •  
      Phil O. San Diego, CA, United States 07-26-12
      Phil O. San Diego, CA, United States 07-26-12 Member Since 2011
      HELPFUL VOTES
      857
      ratings
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      255
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      "A great basic walk-through"

      Being a Buffett-based book, it is aimed at building a buy-and-hold portfolio. It distinguishes Mr Buffett's approach from that of his mentor in value investing, Mr Graham. While Graham fished for underpriced stocks of all kinds, and unloaded them when certain criteria in gains were met, Buffett looks for more durable advantages for long-term returns on investment.
      I would term this "introductory," in reciting basic financial statement contents, meanings and inferences about companies one can get (pretty readily) from financial statements that are publicly available. Aside from the endless repetition of certain phrases ("durable competitive advantage," "getting rich"), it is highly listenable and chock-full of logic and common sense. It was a nice refresher for my financial accounting basics with added value, since my financial accounting class covered a lot of nuts and bolts, but not much about interpretation. While some of these points were apparent from my own observations, much had not occurred to me, e.g., aspects of a company's investments in other companies. There are red flags here that help show potential hard sledding ahead for companies. This got me thinking about lots of companies in today's landscape in different ways, in terms of challenges they face.

      4 of 4 people found this review helpful
    •  
      Aaron 10-28-15
      Aaron 10-28-15 Member Since 2016
      HELPFUL VOTES
      1
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      25
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      "Good basic to intermediate financial analysis concepts"

      Not for the advanced financial analyst, but most will get a few nuggets from this book.

      1 of 1 people found this review helpful
    •  
      Ranjit Katneni 01-28-15 Member Since 2016
      HELPFUL VOTES
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      "Excellent teaching points about Buffet's style"

      Great listen and informative
      Short and sweet
      Brief review as it was meant to be
      Worth listening several times
      Pleasant narration

      1 of 1 people found this review helpful
    •  
      M. Colsey Adelaide, Australia 01-06-16
      M. Colsey Adelaide, Australia 01-06-16 Member Since 2015
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      53
      3
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      Story
      "Good overview but superficial"

      It's a great book to help you get past the usual Wall Street delusions and really start thinking about company values. There is lots of very basic info and the last third of the book starts to get down to tin tacks but lacks the depth of coverage to really educate and equip investors.

      Although all the math is very simple, without a printed copy to follow along with, it is hard to learn the knub of the different analyses discussed and work through them yourself.

      However it is a good whistle whetter to get you started in doing tut own research into the fundamentals of listed companies.

      0 of 0 people found this review helpful
    •  
      Allen Evans San Antonio, TX United States 12-31-15
      Allen Evans San Antonio, TX United States 12-31-15 Member Since 2016
      ratings
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      51
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      "Wonderfully Useful!"

      This is how "how to" books should be written -- a guide to accomplishing a task, pointing out signposts signaling great (or mediocre) investing opportunities.

      This simple book put the majority of "The Little Book" series to shame.

      If you're a Value Investor ... Buy! Buy! Buy!

      0 of 0 people found this review helpful

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