'The Snowball: Warren Buffet and the Business of Life'
Insight into and from one stinking rich man
By Mark Fagan,
5:28PM, Mon. Oct. 20, 2008
Timing is a crucial factor in investing and with the world's economy struggling (to put it nicely) it's the perfect time for the legendary investor to share his principles on life and investing. The Snowball: Warren Buffet and the Business of Life is a 960-page tome documenting the Oracle of Omaha's life and business theories. Buffet's only request of biographer Alice Schroeder was, "Whenever my version of the story is different from someone else's … use the less flattering version." And unflattering much of it is. His obsession with business left him distant from those close to him, he doesn't believe in loaning money even to close relatives, and there's also a little adultery mixed in as well.
Regardless of any personal shortcomings, he is nothing less than a brilliant businessman and shares his thoughts on the stock market, reinvesting savings, buying "cigar butts" (cheap and unwanted stocks that you can suck one last puff out of), investing in Berkshire Hathaway, and following your "Inner Scorecard" ("a toughness about financial decisions that had infused him for as long as anyone could remember"). The Snowball is a must-read for anyone even remotely interested in the investment world and its release comes not a day too soon. That is if anyone can still afford to buy it. Author Alice Schroeder will appear at the Texas Book Festival on Saturday, Nov. 1, 2:30pm, in Capitol Auditorium Room E1.004.