Contents
vii
Preface ix
Part I. Warren Buffett: The Super Combination Investor
1 Buffett’s Success Strategies: Building Real Wealth with
Commonsense Investment Rules and Compound Returns 5
2 Buffett Applies the 3 Steps: Getting Insights from
Annual Reports 12
3 Buffett Applies the 3 Steps (continued): Getting Insights
from Stock Research Reports 20
4 GEICO Revisited 32
5 Applying Buffett’s Strategies for Different Types
of Investors 38
6 The Ultimate Annual Meeting 40
7 The Life and Career of Warren Buffett 43
Part II. Benjamin Graham: The Value Numbers Investor
8 Graham’s Success Strategies: The Cornerstones
of Investing 51
9 Graham and His Followers Apply the 3 Steps:
Going Bargain Hunting for Undervalued Stocks 57
10 21st-Century Value Investing with John Spears
and Mason Hawkins 74
11 Applying Graham’s Strategies for Different Types
of Investors 82
12 The Life and Career of Benjamin Graham 84
Part III. Phil Fisher: The Investigative Growth Stock Investor
13 Fisher’s Success Strategies: Evaluating a Company’s
People, Products, and Policies 93
14 Fisher Applies the 3 Steps: Getting the Scuttlebutt 95
15 Motorola Revisited 106
16 Applying Fisher’s Strategies for Different Investment Types 113
17 Thorns and Roses: Learning from Investment Mistakes 117
18 The Life and Career of Phil Fisher 119
Part IV. Thomas Rowe Price: The Visionary Growth Investor
19 Price’s Success Strategies: Think Like a Business Owner, but
Be Aware That “Change Is the Investor’s Only Certainty” 129
20 Price Applies the 3 Steps: Examining the Growth and
Life Cycles of Companies 132
21 Applying Price’s Strategies for Different Types of Investors 148
22 Current and Future Investment Trends: Technology,
Health Care, and Financial Services 161
23 The Life and Career of Thomas Rowe Price 164
Part V. John Templeton: The Spiritual Global Investor
24 Templeton’s Success Strategies: Foresight, Patience,
and the Contrarian View 177
25 Templeton Applies the 3 Steps: Worldwide
Comparison Shopping for Stocks 180
26 Templeton’s 15 Commonsense Rules for
Investment Success 187
27 The Evolution and Importance of Global Investing 194
28 Applying Templeton’s Strategies for Different Types
of Investors 201
29 Templeton’s Positive View: The Future of Free Enterprise
and the Stock Market 204
30 The Life and Career of John Templeton 208
Part VI. Creating Your Own Wealth Plan
31 How You Can Apply a Composite Version of the 3 Steps
and Project Potential Investment Returns 213
32 How You Can Build and Preserve Real Wealth 226
Endnotes 251
Index 259