A Snowball’s Chance in Hell: The Warren Buffett Story

Posted on | October 13, 2008 | No Comments

Alice Schroeder’s new book on Warren Buffett, The Snowball: Warren Buffett and the Business of Life, arrives just in time to give us hope for our financial future.  Buffett’s sublimely simple approach to investing has made him the richest man in the world (#1 on Fortune’s Richest People with $63 billion), and a major player in the rescue of big players in the financial markets (Buffett invested $3 billion in General Electric and $5  billion in Goldman Sachs).

At a time when we’re all trying to figure out what’s next, Schroeder’s The Snowball provides a deep dive into Buffett’s childhood, his motivations and his investment strategy.  Buffet describes his investment strategy as follows: Estimate the investment’s value, handicap its risks, keep a margin of safety, and then let compounding do the real work.

Simple.  Right?

Buffet hasn’t veered from this strategy since the 1960′s.  The wisdom is that is abudantly evident.  That’s why I’m spending my evenings reading Schroeder’s 960-page tome.  Join me.

If you’re not ready for such a long read, get Warren Buffett: The Making of an American Capitalist.

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