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The Genius That Is Warren Buffett (and a GIVEAWAY to boot!)
By JLP | October 1, 2008
I picked up a copy of Alice Schroeder’s The Snowball - Warren Buffett and the Business of Life
Buffett speaking:
“…I would like to talk today about the stock market,” he said. “I will be talking about pricing stocks, but I will not be talking about predicting their course of action next month or next year. Valuing is not he same as predicting.
“In the short run, the market is a voting machine. In the long run, it’s a weighing machine.
“Weight counts eventually. But votes count in the short term. And it’s a very undemocratic way of voting. Unfortunately, they have no literacy tests in terms of voting qualifications, as you’ve all learned.”
Continuing…
“…What you’re doing when you invest is deferring consumption and laying money out now to get more money back at a later time. And there are really only two questions. One is how much you’re going to get back, and the other is when.
“Now, Aesop was not much of a finance major, because he said something like, ‘A bird in hand is worth two in the bush.’ But he doesn’t say when.” Interest rates—the cost of borrowing—Buffett explained, are the price of “when.” They are to finance as gravity is to physics. As interest rates vary, the value of all financial assets—houses, stocks, bonds—changes, as if the price of birds had fluctuated. “And that’s why sometimes a bird in the hand is better than two birds in the bush and sometimes two in the bush are better than one in the hand.”
The talk goes on for several more pages in the book. The author mentions that the techies didn’t much care for Warren’s speech because they represented something new and exciting. In other words, they were smarter than everyone else. We all know what happened in 2000! Those pages alone are worth the price of the book!
Anyway, to celebrate the release of the book, I thought it would be cool to give away a copy. If you’re interested in winning a copy, leave a comment below. All I ask is that you remember my two rules:
1. You must be a resident of the U.S. or Canada, and…
2. You can only enter ONE TIME!
*Affiliate Link
Topics: Books |
October 1st, 2008 at 11:51 am
Sounds like a good book, I’ll have to check that out.
October 1st, 2008 at 11:55 am
I’m interested in the book.
October 1st, 2008 at 11:57 am
…come on 7!
October 1st, 2008 at 11:58 am
I’m interested in learning from the oracle.
October 1st, 2008 at 11:59 am
Please include me.
Also, there appear to be many typos that impact the ability to comprehend what is being said.
October 1st, 2008 at 12:01 pm
True value wins out over time. Despite fluctuations, the psychology of the market over time, sooner or later the numbers (financial statement/balance sheets) have to win out! But if you have to wait 5 years for market trepidation to alleviate…you have to wait 5 years, but you’ll be rewarded in the end.
October 1st, 2008 at 12:03 pm
Sounds awesome!
October 1st, 2008 at 12:06 pm
Those smug techies
Count me in!
October 1st, 2008 at 12:09 pm
In reading the reviews on this book, it looks like a very interesting read.
October 1st, 2008 at 12:10 pm
I could use some of his genius.
October 1st, 2008 at 12:12 pm
I like that he quotes Asop to the “new” tech crowd.
Count me in.
October 1st, 2008 at 12:12 pm
Count me in!
Thank you!
October 1st, 2008 at 12:15 pm
Techies… they think they are soooo smart! Sounds like a good read.
October 1st, 2008 at 12:16 pm
Thanks for the contest!
October 1st, 2008 at 12:18 pm
Thank you for reminding me that Mr. Buffet’s book came out last week! I have been looking forward to reading it and need to add it to my library list but winning it would be even better. Thanks for your site, I am a Beaumont native so I am glad to see someone from my hometown publishing such a great site.
October 1st, 2008 at 12:19 pm
I’d even read it!
October 1st, 2008 at 12:19 pm
Can’t go wrong with a book by Buffett!
October 1st, 2008 at 12:20 pm
sounds interesting
October 1st, 2008 at 12:25 pm
i’m game
October 1st, 2008 at 12:27 pm
I just heard about this book for the first time a few days ago, and have been thinking about picking it up. But free would be even better on the ol’ wallet
October 1st, 2008 at 12:28 pm
I’m interested too.
October 1st, 2008 at 12:35 pm
Every 5-7 years there seems to be a new round of young hotshots who believe they know everything and that Buffett has “lost his touch.” That was the case in ‘99, and that was certainly the case earlier this year. In both instances, his doubters picked the worst times to be buying stocks without regard to their fundamentals.
If there a lesson to be learned from the current market conditions it’s to ignore the noise and emulate the masters, like Warren Buffett and Ben Graham.
October 1st, 2008 at 12:37 pm
Using the concept that it takes money to make money, Warren Buffet has a huge advantage over the rest of us. He can afford to take large and small risks with enormous sums of money. He has been in that position for years. But I do want to read this book.
October 1st, 2008 at 12:40 pm
I love Buffett.
Anecdotes like the one you cover in this post really drive home his philosophy and why it is timeless. I’d love a copy - especially since it will take FOREVER for my library to get a copy!
October 1st, 2008 at 12:41 pm
my favorite book is ‘Buffet: The making of an American capitalist’. I swear by that book.
it would not be a stretch that I will be reading the latest….the issue is, with full time work, a new born on the way and two tough MBA classes at night, when?
October 1st, 2008 at 12:43 pm
was about to buy this, but maybe I’ll win instead.
October 1st, 2008 at 12:44 pm
Good advice from Buffett! I want to read more! Please give the book to me!
October 1st, 2008 at 12:45 pm
I’ve heard about Buffet’s book and it sounds like it should be good.
October 1st, 2008 at 12:45 pm
I want in
October 1st, 2008 at 12:50 pm
Sounds like a very interesting book to read…
Count me in…
October 1st, 2008 at 12:51 pm
Count me in…
Thanks for the giveaway!
October 1st, 2008 at 12:55 pm
Sounds cool. Love Buffett’s wisdom
October 1st, 2008 at 12:55 pm
But does it have pictures? I keed, I keed. I’d love to read this book.
October 1st, 2008 at 1:01 pm
Love it!
October 1st, 2008 at 1:04 pm
I would love a copy!
October 1st, 2008 at 1:05 pm
EVERYONE: Sorry for the typos. That’s what I get for trying to type fast and then not proof-read. I think I fixed all the typos.
October 1st, 2008 at 1:07 pm
I’m interested
Sign me up for the giveaway
October 1st, 2008 at 1:18 pm
Count me in. Thanks.
October 1st, 2008 at 1:22 pm
Sound like a very intersting book to read
October 1st, 2008 at 1:24 pm
Buffet book please!
October 1st, 2008 at 1:24 pm
I would love a book!
October 1st, 2008 at 1:25 pm
It’d be great to read this book!
October 1st, 2008 at 1:31 pm
I’m in! (crossing fingers…)
October 1st, 2008 at 1:32 pm
Buffet rocks.
October 1st, 2008 at 1:35 pm
I’m in
October 1st, 2008 at 1:40 pm
Yup. The time value of money. basics of finance.
I’d like a copy!
October 1st, 2008 at 1:43 pm
I wanna win.
October 1st, 2008 at 1:48 pm
Looks like a great book. If I don’t win it, I’ll have to check it out at the library!
October 1st, 2008 at 1:52 pm
Count me in! Would love to read it
October 1st, 2008 at 1:59 pm
I’m interested.
October 1st, 2008 at 2:00 pm
That’s a great excerpt!
October 1st, 2008 at 2:20 pm
I’m in! I would love to read this book.
October 1st, 2008 at 2:26 pm
Great article. The Snowball is a definite must-read.
October 1st, 2008 at 2:30 pm
Better late than never. Count me in
October 1st, 2008 at 2:31 pm
Yaaa! Another book giveaway.
October 1st, 2008 at 2:34 pm
I would like to be in on your drawing please.
October 1st, 2008 at 2:35 pm
I’ll add my name to the raffle, although based on the excerpt you’ve included if I don’t win it, I’ll have to add it to my Christmas list!
October 1st, 2008 at 2:44 pm
I’m in with Warren for the long haul!
October 1st, 2008 at 2:51 pm
Sounds like a pretty good book!
October 1st, 2008 at 2:54 pm
I’m in for the book…and the direction of W.B. What could be cooler!?
October 1st, 2008 at 2:56 pm
Sounds like a great book!
October 1st, 2008 at 2:57 pm
Sign me up!
October 1st, 2008 at 3:01 pm
Sounds like a good read, sign me up
October 1st, 2008 at 3:05 pm
Sounds like a fantastic read! Buffett is really a genius, because he does not complicate things more than they need to.
His brilliance is really evidenced by how he stayed away from the 2 major crashes of the last decade, and in fact predicted them years in advance.
October 1st, 2008 at 3:15 pm
Definitely interested in the book, as there is no one I trust more than Buffet when it comes to investing. The fact that he invested in Goldman Sachs and now GE mean more than all of the talking heads making predictions right now.
I hope you will continue to post excerpts from the book.
October 1st, 2008 at 3:57 pm
sounds great, i would love a copy
October 1st, 2008 at 4:18 pm
This would be a great book to share with my High School Economics Students~!
October 1st, 2008 at 4:37 pm
I think if there were one person alive in this country today that I would choose to model my entire life after, it would be Warren Buffett. I am fascinated by every interview I ever see him in and cannot turn away.
Oh…and if anyone ever thinks about complaining about the tax they pay, Mr. Buffett, the wealthiest man in America, believes he doesn’t pay enough.
October 1st, 2008 at 4:38 pm
It would be great to get one to learn and share with all.
October 1st, 2008 at 4:45 pm
I blew on the dice, and I’m rollin’ for my chance!
October 1st, 2008 at 4:45 pm
I would like a copy
October 1st, 2008 at 4:48 pm
I would like to be entered for the contest. Thank you!
October 1st, 2008 at 5:02 pm
I’m in!
Thanks
October 1st, 2008 at 5:13 pm
This was reviewed and discussed on NPR today, On Point. You can excerpts on their webpage and listen to the show.
http://www.onpointradio.org
October 1st, 2008 at 5:13 pm
Buffet makes it seem easy, but I’m sure he works really hard at finding the right investments at the right time. I wish we could all have a copy of his book!
October 1st, 2008 at 5:27 pm
Thanks, sounds interesting, I’d like a copy
October 1st, 2008 at 5:35 pm
Buffett is a genius. Would be very interesting to read this.
October 1st, 2008 at 5:55 pm
I’m all in!
October 1st, 2008 at 6:28 pm
I NEED THAT BOOK!
October 1st, 2008 at 6:31 pm
Sounds good to me
October 1st, 2008 at 6:36 pm
Count me in.
October 1st, 2008 at 6:58 pm
Count me in
October 1st, 2008 at 8:04 pm
I’ve never read anything on Warren Buffett so this sounds great! Thank you!
October 1st, 2008 at 8:45 pm
I’m in, thanks lads.
October 1st, 2008 at 8:49 pm
Really interested in the book…
October 1st, 2008 at 8:49 pm
Thanks for doing this. It sounds really interesting.
October 1st, 2008 at 10:07 pm
Thank you
October 1st, 2008 at 10:12 pm
Add my name! Wishing I was related to Warren! This will be the next best thing.
October 1st, 2008 at 10:24 pm
I’d love to read this! Thanks for holding the giveaway.
October 1st, 2008 at 10:38 pm
He shoots the 19
October 1st, 2008 at 10:40 pm
Me too
Love,
Jodi
October 1st, 2008 at 10:44 pm
I always like Buffett. Count me in .
October 1st, 2008 at 10:44 pm
I’m ready for some Buffett-inspiration. May the random number generator shine upon my lowly number 92!
xoxo,slm
October 1st, 2008 at 11:11 pm
Count me in, please
October 2nd, 2008 at 12:33 am
Mr. buffet seems to have simple easy rules for himself and the things he does. The rest of our society could learn alot from that. We’re too complicated.
Count me in please!
October 2nd, 2008 at 12:35 am
Buffett’s out there investing a *lot* of money this week one could do a lot worse than read about him and his philosophies.
October 2nd, 2008 at 1:06 am
Sounds like a good read. Thanks!
October 2nd, 2008 at 1:11 am
I would like a copy!
October 2nd, 2008 at 3:24 am
the winning # is 99. thank you!
October 2nd, 2008 at 6:30 am
Sounds like a great read.
October 2nd, 2008 at 6:31 am
I would really like to read the book. He’s a fascinating man.
October 2nd, 2008 at 7:20 am
Love your site. Enter me in book drawing.
October 2nd, 2008 at 7:56 am
I’ve been getting interested in him more and more lately - would love to get to read the book!
October 2nd, 2008 at 9:35 am
n-time is the charm!
October 2nd, 2008 at 9:37 am
I am interested. Thanks!
October 2nd, 2008 at 9:52 am
Count me in!
October 2nd, 2008 at 9:59 am
Count me in. Over a 100 entries…the lure of the oracle of omaha…
October 2nd, 2008 at 10:36 am
Count me in! I’ve heard of the book. Sounds like a good read.
October 2nd, 2008 at 11:04 am
Please count me in!
October 2nd, 2008 at 11:14 am
I am interested.
October 2nd, 2008 at 11:33 am
If I win the book, maybe my husband will read it too!
October 2nd, 2008 at 11:55 am
pick me, pick me
October 2nd, 2008 at 12:08 pm
Please count me in. Thanks
October 2nd, 2008 at 12:13 pm
Warren’s the man!!
October 2nd, 2008 at 12:33 pm
I’m a big fan of Buffet, but I have never read a book about him. I’d love to have this book.
October 2nd, 2008 at 1:00 pm
Count me in.
October 2nd, 2008 at 1:13 pm
Count me in
Thanks again love the blog
October 2nd, 2008 at 1:29 pm
Count me in. I am a huge fan of Warren Buffett.
October 2nd, 2008 at 1:34 pm
I’d love to win.
October 2nd, 2008 at 2:19 pm
WOW! I love reading your thoughts and what a great promo!
October 2nd, 2008 at 3:08 pm
Warren Buffett is a genius… I’d love to read more about it
October 2nd, 2008 at 3:13 pm
Count me in for the book. I have been listening to the reviews, sounds great–if I don’t win I will put my name on list at library, no longer buying books as part of the savings plan to deal with the economy,
October 2nd, 2008 at 3:28 pm
Warren Buffet is my hero. I want to hug him for being awesome!
October 2nd, 2008 at 3:30 pm
I’m in!
October 2nd, 2008 at 3:59 pm
Count me in!
October 2nd, 2008 at 4:35 pm
I’m the winner!
October 2nd, 2008 at 5:24 pm
Warren Buffett is my idol!
October 2nd, 2008 at 6:05 pm
Please put me in the drawing. Thanks
October 2nd, 2008 at 6:11 pm
Ohh a buffet book. i’m in.
Great Site by the way.
October 2nd, 2008 at 8:26 pm
count me in
October 2nd, 2008 at 9:30 pm
Silly not to enter, so I’m in too.
October 2nd, 2008 at 9:46 pm
Count me in
October 2nd, 2008 at 9:57 pm
I would love to read a Buffett book
October 2nd, 2008 at 11:17 pm
Count me in!
October 2nd, 2008 at 11:17 pm
This sounds like an interesting book. I hope I win!
October 3rd, 2008 at 1:50 am
count me in
October 3rd, 2008 at 6:29 am
I would very much enjoy a free book about Warren Buffet.
October 3rd, 2008 at 7:23 am
Saw the book at Costco yesterday. I figure I will have to wait until a copy shows up at the used book store… 1/138 odds so far are not too great.
October 3rd, 2008 at 7:30 am
I would really enjoy this book!
October 3rd, 2008 at 8:57 am
!
October 3rd, 2008 at 9:08 am
Who says Buffett is too early buying Goldman and GE… He said that we are in an Economic Pearl Harbor… so why is he buying… many members of myinvestorsplace.com are saying that Buffett is following in the steps of Ben Graham…who got in early in the Depression…and it took him 10 years to get to break even..Really do you think Buffett is too early???I am sure our members would like to know…
October 3rd, 2008 at 9:22 am
I’m in for a chance! Anything about WB is interesting.
October 3rd, 2008 at 9:23 am
I’d love a copy, please add me to the contest.
October 3rd, 2008 at 9:29 am
I am in
October 3rd, 2008 at 9:48 am
Thanks! Count me in!
October 3rd, 2008 at 9:51 am
site worked on IE today:)
October 3rd, 2008 at 12:42 pm
was gonna pick up a copy, but now I am gonna try and win it :)~
October 3rd, 2008 at 12:50 pm
Count me in
October 3rd, 2008 at 2:27 pm
count me in
October 3rd, 2008 at 2:36 pm
I’d like to be in the contest.
October 3rd, 2008 at 2:45 pm
Count me in!
October 3rd, 2008 at 4:06 pm
I’d like to enter the contest, if it’s not too late!
October 3rd, 2008 at 4:36 pm
I’m interested.
October 3rd, 2008 at 4:39 pm
Anything about Buffet is worth the read.
October 3rd, 2008 at 4:56 pm
That sounds like a very interesting read indeed.
October 3rd, 2008 at 7:15 pm
I am in
October 4th, 2008 at 4:13 am
me too
October 4th, 2008 at 8:30 am
count me in
October 4th, 2008 at 9:49 am
Warren is the man!
October 4th, 2008 at 1:26 pm
I am in
October 4th, 2008 at 7:33 pm
Not often is the world blessed with an exceptional thinker who can express his ideas in such an engaging manner. Much to appreciate in Buffet’s pearls of wisdom, from both a philosophical and literary perspective - not to mention financial perspective! I look forward to reading/hearing every word I can find that issued from his mouth…!
October 4th, 2008 at 9:53 pm
Win or lose the giveaway, this is definitely a book on my reading list.
October 5th, 2008 at 12:18 am
Great giveaway. Thanks.
October 5th, 2008 at 9:28 am
I’m always interested in what Warren Buffet has to say, and I’d love to read about it in depth.
P.S. I have to agree with Andre — “Warren is the man!”
October 5th, 2008 at 11:13 am
Warren is often ahead of the curve, from derivatives as weapons of mass destruction to his recent wager on the merits of a simple stock index fund outperforming(ofcourse after fees)hedge funds over time. Interesting that already 250 hedge funds are no longer in existence just this year, and I am sure redemptions in some funds going forward will bring more problems for the market. Stick with Buffett and Munger. Age does not equate with being OLD.
October 5th, 2008 at 1:57 pm
yes please.
October 5th, 2008 at 3:29 pm
Buffet books are always great!
October 5th, 2008 at 4:12 pm
Let me in, I read many books about him, hope to read the official one!
October 5th, 2008 at 8:51 pm
Count me in !!
October 5th, 2008 at 9:38 pm
Looking forward to reading the book, thanks for the update on your site!
October 6th, 2008 at 9:02 am
I have heard some wonderful and facinating things about Warren Buffett. When I have heard him speak and read articles about him he always has such unusual insights on such a broad spectrum of subjects. I have never read any of his books but am happy at the prospect of being included in the possibility of receiving a free copy of his book. Thank you for the opportunity.
October 6th, 2008 at 9:17 am
We can only hope that Buffett continues his track record of success with his recent investments in GE and GS … that would be a great sign that we’re nearing the bottom of the current markets…