Regular price: $11.99

Free with 30-day trial Membership
Membership details Membership details
  • 30 days of membership free - plus an audiobook, on us.
  • 1 credit a month after trial - good for any title.
  • Easy exchange. Don't love book? swap it for free.
  • Exchange books you don't like
  • After your free trial, Audible is $14.95 a month
OR
In Cart

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 Ratings

    Overall

    • 4.3 out of 5.0
    • 5 Stars
      124
    • 4 Stars
      64
    • 3 Stars
      31
    • 2 Stars
      10
    • 1 Stars
      3

    Performance

    • 4.3 out of 5.0
    • 5 Stars
      101
    • 4 Stars
      46
    • 3 Stars
      21
    • 2 Stars
      5
    • 1 Stars
      3

    Story

    • 4.2 out of 5.0
    • 5 Stars
      89
    • 4 Stars
      49
    • 3 Stars
      24
    • 2 Stars
      8
    • 1 Stars
      3
    Sort by:
    • Overall
    • Performance
    • Story
    • Phil O.
    • San Diego, CA, United States
    • 07-26-12

    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.

    7 of 7 people found this review helpful

    • Overall
    • Performance
    • Story
    • Shannon
    • Discovery Bay, CA, United States
    • 10-22-16

    Get super rich by finding a company with a durable competitive advantage

    If I could have received a dollar for each time those two phrases were mentioned I would be super rich too, just like Warren Buffet. Enjoyed the information, however I felt there was too much emphasis on being and getting super rich just like Warren Buffet by finding companies with a durable competitive advantage . I was looking more for information on financial statements...

    1 of 1 people found this review helpful

    • Overall
    • Performance
    • Story

    Good basic to intermediate financial analysis concepts

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

    2 of 3 people found this review helpful

    • Overall
    • Performance
    • Story

    Basic accounting knowledge

    Would you listen to Warren Buffett and the Interpretation of Financial Statements again? Why?

    This book explained the captions in Balance Sheet, Income Statement, and Statements of cash flows. It provides some basic understanding of those account captions and suggested ratios for investors to look at. It also provides the ideal ratios for a company to be considered to have a durable competitive advantage. However, for a person, who already has basic knowledge about financial statements, you will find yourself wasting time listening to this.

    What did you like best about this story?

    The book is kinda old and I found some stories were dated.

    What about Karen White’s performance did you like?

    She dictated the book very well.

    Did you have an extreme reaction to this book? Did it make you laugh or cry?

    No.

    0 of 1 people found this review helpful

    • Overall
    • Performance
    • Story

    New perspective when looking at financials. Not full book though

    Why is this not the full book? You can tell because it skips chapters. However, this is a new perspective for interpreting financial statements that you don't get from simply reading a "how to".

    • Overall
    • Performance
    • Story

    Analysis Gold!!!!

    Great 3 book series, Even if you dont purchase stock from one of these great company, Warren laysout the blue print of how you should run your own business (if you have one), and how to keep your books.

    • Overall
    • Performance
    • 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.

    • Overall
    • Performance
    • Story

    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!

    • Overall
    • Performance
    • Story

    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 2 people found this review helpful

    • Overall
    • Performance
    • Story

    Dont buy

    What could have made this a 4 or 5-star listening experience for you?

    The information in the book is repetitive common sense. I don't recommend buying it.

    Has Warren Buffett and the Interpretation of Financial Statements turned you off from other books in this genre?

    no

    Who would you have cast as narrator instead of Karen White?

    no

    You didn’t love this book... but did it have any redeeming qualities?

    nope.

    0 of 1 people found this review helpful

    Report Inappropriate Content

    If you find this review inappropriate and think it should be removed from our site, let us know. This report will be reviewed by Audible and we will take appropriate action.