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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Buffett summary
The Making of an American Capitalist
15 mins
Brief summary
Buffett by Roger Lowenstein is a biography of the legendary investor, Warren Buffett. It tracks his rise from a small-town boy to one of the world's richest men. The book delves into his investment philosophy and provides insights into his life and career.
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Buffett
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Warren Buffett grew up in the Midwestern city of Omaha, Nebraska. Money was often on his mind.
Warren Edward Buffett was born to Howard and Leila Buffett on August 30, 1930, at a time when many families were facing an uncertain future.
As a child of the Great Depression, young Warren learned the value of money.
In 1932, when the Depression hit Warren’s hometown of Omaha, Nebraska, his father lost his job as a securities salesman for a local bank. But his dad was resourceful and soon began his own company, selling safe and reliable stocks and bonds.
Earnings were meager. Indeed, they could afford so little food that Warren’s mother would often give her portion to Howard so that he would have a decent meal.
These difficult times left a lasting impression on Warren Buffett, and fueled his desire for the kind of security and stability that money can buy. Even though his father’s business became successful when Warren was six, he never forgot those early Depression years.
It wasn’t long before Warren’s interest in investment and entrepreneurship revealed itself.
He always looked forward to visiting his father’s office, and, when Warren was ten, Howard took him on an exciting business trip to New York, where they visited the Stock Exchange.
A year later, when he was eleven, Warren made his first profit by buying and selling stocks along with his sister, Doris.
To afford these stocks, Warren had undertaken many entrepreneurial activities, such as roaming the local golf course to collect lost golf balls and then selling them back to the owner.
At the age of 14, Warren was in charge of five separate paper routes, which had him getting up early every morning, delivering papers and collecting subscription fees.
By saving every cent he made, Warren purchased 40 acres of land for $1,200. He wasn’t yet fifteen.
Warren was no slouch at school, either. He graduated in the top three percent and enrolled at the Wharton School of Finance and Commerce, in Pennsylvania, where his love of money would only grow.
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What is Buffett about?
Buffett (1995) tells the tale of Warren Buffett, from his humble beginnings as a boy with a paper route for the Washington Post to his success as one of the newspaper’s largest shareholder. But of course, that’s not all. Today, Warren Buffett is one of the world’s wealthiest people and one of its biggest philanthropists. Find out how he got there, and how he applies his unique mix of hard work, consistency and frugality.
Buffett Review
Buffett (1995) by Roger Lowenstein is a captivating exploration of the life, principles, and strategies of one of the most successful investors of all time, Warren Buffett. Here's why this book is worth your time:
- Lowenstein provides detailed insights into Buffett's investment philosophy, showcasing how he built his wealth through a long-term, value-oriented approach.
- The book delves into Buffett's personal life and offers a deeper understanding of his character, providing valuable lessons on integrity, patience, and determination.
- Lowenstein's careful research and compelling storytelling make the book rich with anecdotes and examples, ensuring that it is far from boring and keeps you engaged throughout.
Best quote from Buffett
Likes math . . . a future stockbroker - the caption under Buffetts high school yearbook photo.
—Roger Lowenstein
Who should read Buffett?
- Investors and traders looking for a role model
- Stock market junkies
- Students of business or management
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Buffett FAQs
What is the main message of Buffett?
The main message of Buffett is the value of investing in businesses with sustainable competitive advantages and strong management.
How long does it take to read Buffett?
The reading time for Buffett varies depending on the reader, but it typically takes several hours. The Blinkist summary can be read in just 15 minutes.
Is Buffett a good book? Is it worth reading?
Buffett is worth reading for anyone interested in learning from one of the most successful investors of all time. It provides valuable insights and strategies in a concise format.
Who is the author of Buffett?
The author of Buffett is Roger Lowenstein.
What to read after Buffett?
If you're wondering what to read next after Buffett, here are some recommendations we suggest:
- The Education of a Value Investor by Guy Spier
- The Snowball by Alice Schroeder
- The Intelligent Investor by Benjamin Graham and comments by Jason Zweig
- Charlie Munger by Tren Griffin
- The Little Book of Common Sense Investing by John C. Bogle
- New Cold Wars by David E. Sanger
- Millennial Money by Patrick O’Shaughnessy
- You Only Die Once by Jodi Wellman
- Warren Buffett's Ground Rules by Jeremy C. Miller
- Feel-Good Productivity by Ali Abdaal