Soldier of Fortune

Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking

De: Tobias Carlisle

Narrado por: Scott R. Pollak

Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking shows how Warren Buffett’s investment method mirrors Sun Tzu’s ancient strategy in The Art of War.

The book is a masterful synthesis of 2,500 years of risk-taking strategy, distilled into 13 practical laws.

It illustrates each ancient law using three little-known, but transformative deals Buffett used to achieve Sun Tzu’s ideal of “victory without conflict”. It shows how Buffett succeeded like the ancient strategist by:

• systematically avoiding failure,
• seeking asymmetries with favorable risk-reward ratios, and
• aligning with favorable forces to find effortless victories.

The work combines real modern examples with ancient strategic insights to help listeners understand how good risk-takers take calculated risks.

From the bronze age battlefield to the modern stock exchange, the victors are those who best master the ancient art of risk-taking.

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The book argues that Buffett embodies Sun Tzu's ideal of achieving "victory without conflict"—succeeding through superior positioning rather than aggressive confrontation. Like the ancient strategist, Buffett prioritizes avoiding defeat before seeking victory, emphasizing survival and risk management over aggressive returns.

Central themes include the primacy of character and integrity in business relationships, the importance of patience and long-term thinking, and the value of operating within one's "circle of competence." Carlisle argues that Buffett's greatest successes appear effortless precisely because they result from superior preparation, positioning, and an unwavering focus on avoiding catastrophic losses while capitalizing on inevitable opportunities.

©2025 Tobias E Carlisle (P)2025 Tobias E Carlisle

“He will win who knows when not to fight”

A clever and compelling book showing the timeless wisdom of Sun Tzu through the investment lens of Warren Buffett and Berkshire Hathaway.

Listening to this book gave me a new appreciation for some of the decisions made by investment greats, including what they chose not to do! It also made me reflect on my own investment approach and ask myself: “Am I trying to be brilliant, or am I trying to ensure I survive?”

Intersection of Sun Tzu and Buffet’s investments

I liked the breakdown of the chosen investments and the deep dive into the risk reward theses