The Snowball: Warren Buffett and the Business of Life by Alice Schroeder [1st Edition]
Requirements: ePUB Reader, 3.4 Mb
Overview: Alice Schroeder’s biography of Warren Buffett, anointed as the world’s richest man (but actually probably is second richest next to Bill Gates), is must reading for anyone who wants to gain an appreciation of the world of finance and, specifically, our current economic crisis. Buffett was one of the first to see the dangers of derivatives and their impact on the big banks of America and the world. The book ends in 2004 and so you won’t get advice on working through the current crisis but you will get a solid understanding of how we’ve gotten where we are.
Schroeder, a former Wall Street analyst, does a nice job of revealing the rational side of Warren Buffett, how he thinks, and what makes him tick. As an analyst with Morgan Stanley, Schroeder was assigned to track Buffett’s company, Berkshire Hathaway, as an analyst. She points out that Buffett is more in love with acquiring new properties and ventures than in investing himself personally in growing his vast empire through entrepreneurial leadership. The author points out that one of Buffett’s early lessons was learning about compounding at age 11. Another early lesson learned from his Quaker parents was to avoid confrontation and a desire to be liked. Schroeder does a wonderful job following the development of Buffett’s business knowledge, the success of his many investment partnerships, and how he overcome countless problems after acquiring Berkshire Hathaway.
Genre: Biographies/Memoirs
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