Review of "Warren Buffett Speaks: Wit and Wisdom from the World’s Greatest Investor," by Janet Lowe

 Review of

Warren Buffett Speaks: Wit and Wisdom from the World’s Greatest Investor, by Janet Lowe, ISBN 047116996x

Five out of five stars

It does indeed contain wit with the wisdom

  In a world where the billionaires seem to be expanding their power and influence and exhibiting a lack of concern for the rest of the world, Warren Buffett is a breath of fresh air exception. He has clearly stated that most of his fortune will be given away and he had made what is for the uber-wealthy some rather unusual statements. He is on the record as saying that short term capital gains (less than a year) should be very heavily taxed (over 90%) in order to strongly encourage investors to invest on a more long-term basis. He has also lamented that his secretary pays a higher rate of taxes on her income than he does.

 Buffett’s investment strategy is well known and he has repeatedly stated it publicly. He examines a company, looks for long-term potential earnings and invests to hold for the long-term. That strategy has served him very well, the holdings of his investment firm have dramatically increased over the decades.

 That strategy is articulated again in this book, so the wisdom part in the title is a given precondition. However, the inclusion of wit in the title is justified, Buffett demonstrates that he keeps his success in perspective and does not hesitate to accept and acknowledge what he has done wrong in the past. He also gives credit to others and some of his lines are pretty funny. It is hard to picture many of the other billionaires coming up with jokes of this caliber.

 While the book is positive in the treatment of Buffett, it does not come anywhere close to being laudatory. It is a quick and very satisfactory read, well worth the effort to learn a sound investment strategy.

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