It is rightly said by the author L.J.Ritten House, that Warrent Buffett is a pure capitalist but not a materialist. We have so many billionaires all around the world, but the wisdom of Buffett teaches the entire world what’s investments is all about.
The concept of value investing and long term accumulation of wealth were the great lessons we have learned from the ‘Oracle of Omaha’. Investments pundits and financial gurus all around the world try to replicate the investment patterns of Warren Bufett and his company Berkshire Hathaway through various funds modeled according to allocation of his company. but they never replicated the performance of Buffett’s and never they will do , because it is not the numbers that matters for Buffett but the values and ethics associated with the investments.
That’s what highlighted in the whole book of L.J.Rittenhouse, “Buffett’s Bites – The Essential Investor’s Guide to Warren Buffett’s Shareholder letters” published by Tata McGraw-Hill. It is a 213 page book, which deals entirely the nuke and corner of the strategy of the world’s greatest Financial and Investment Guru.
The author gives 25 bites she understood from the Warrenn Buffett’s 2008 shareholders letter. She starts with ABC of shareholders letters to how Buffett takes a longer period of time to draft his 12000 words shareholder letter. The letter he writes will be very open and personal for the investors. The book deals with all the important attributes of the Buffetts letter and advises the readers with important bites that investors have to keep in mind while investing. The most important bites that i consider personally interesting are:
- Trust cash always
- The golden rule works in business too.
- Healthy cultures create wealth; toxic cultures destroy it
- Aiding investor’s analysis builds investor’s trust
- Judge CEOs on the quality and quantity of their confessions.
If you really want to understand the true theory of wealth building through investments, this book should be with you always n your hand, and the book is modeled for that exactly.
If you are modest and disciplined , you will surely like the principles of Buffett, because he himself is known for that modesty. That why he still lives in a home he bought back in 1950s. He is a man who inspired me, when he stunned the world by announcing that he would give his fortune $31 billion to Bill & Melinda gates foundation to help the poorest people in the world.
If i start speaking about Buffett and his personal professional life, we have to write uncountable volumes of books. Because this is a book speaks about one shareholder letter.
It was a great work of L.J.Rittenhouse and a great book to be read by Management, financial, and investment professionals. Not only them, but to people who wants to live their life by leading the whole world for a greater purpose with good values, it is worth reading.