Sample text for Warren Buffett and the interpretation of financial statements : the search for the company with a durable competitive advantage / Mary Buffett and David Clark.


Bibliographic record and links to related information available from the Library of Congress catalog


Copyrighted sample text provided by the publisher and used with permission. May be incomplete or contain other coding.


Counter

CHAPTER 1
Two Great Revelations That Made Warren the Richest Person in the World

In the mid-sixties Warren began to reexamine Benjamin Graham's investment strategies. In doing so he had two stunning revelations about what kinds of companies would make the best investments and the most money over the long run. As a direct result of these revelations he altered the Graham-based value investment strategy he had used up until that time and in the process created the greatest wealth-investment strategy the world has ever seen.

It is the purpose of this book to explore Warren's tworevelations --

1. How do you identify an exceptional company with adurable competitive advantage?

2. How do you value a company with a durable competitiveadvantage?

-- to explain how his unique strategy works, and how he uses financial statements to put his strategy into practice. A practice that has made him the richest man in the world.Copyright © 2008 by Mary Buffett and David Clark


Library of Congress subject headings for this publication:
Financial statements.
Business enterprises -- Finance.
Corporations -- Finance.
Investment analysis.
Investments -- Decision-making.
Buffett, Warren.