Ep 464. Buffett’s Playbook: Past and Present

This book delves into the early investments of Warren Buffett, analyzing ten significant investments he made in the 1950s and 1960s. Using the same documents Buffett used at the time, the author reveals the inside stories of how these investments transformed, including the transformation of Philadelphia and Reading from a declining coal company to a diversified conglomerate, the first formal investment with Charlie Munger in Hochschild-Kohn, and the risks faced in the 1966 investment in Walt Disney. The book also covers investments in American Express, British Columbia Power, Cleveland Worsted Mills, Greif Bros, Marshall-Wells, Studebaker, and Union Street Railway, providing insights into why some investments succeeded while others did not.

This book provides an unprecedented look into the life and investment philosophy of Warren Buffett. Written by Alice Schroeder, who gained unparalleled access to Buffett and his inner circle, it delves into the complexities and paradoxes of Buffett's life. The book covers his work, opinions, struggles, and triumphs, and highlights key principles such as intrinsic value, margin of safety, and long-term perspective. Buffett’s legacy is not just his wealth, but the principles and ideas that have enriched people’s lives.