Introduction xix
Kenneth L. Fisher
1 The World’s Greatest Investor 1
2 The Education of Warren Buffett 11
3 “Our Main Business Is Insurance”: The Early
Days of Berkshire Hathaway 29
4 Buying a Business 41
5 Investing Guidelines: Business Tenets 61
6 Investing Guidelines: Management Tenets 81
7 Investing Guidelines: Financial Tenets 109
8 Investing Guidelines: Value Tenets 121
v i CONTENTS
9 Investing in Fixed-Income Securities 141
10 Managing Your Portfolio 157
11 The Psychology of Money 177
12 The Unreasonable Man 189
Afterword: Managing Money the Warren Buffett Way 199
Appendix 211
Notes 225
Acknowledgments 235
Index 239