THE SNOWBALL OF WARREN BUFFETT BY ALICE SCHROEDER

It’s a big honor for me to write about Warren Buffett,being  my idol and the person who admire most from business leaders.About him have told a lot on media but what caught my attention was the book written by Alice Schroeder where she presented entire his prodigious career since he was a child until present.

When I read the book I discovered things that have never been told before.As many of you probably know Warren Buffett is the CEO& Chairman of Berkshire Hathaway.

Once Buffet called Berkshire Hathaway  one of his bad investments that he ever made.Sounds strange considering that today Berkshire Hathaway is 223 billion $ company according to Fortune 500 global ranking.

The story began with many years ago when Buffett had started to buy small stakes in the company until he bought entirely company.In that period Berkshire Hathaway was a textile bankrupted company.He bought the company with the intention to resale,but he didn’t  ,he liquidated the textile business and transformed it into conglomerate holding company.

Only him could be able to do this kind of performance .for those who don’t know Buffet investment strategy in the early stage of his career was ‘’Cigar Butt’’  approach,that means to buy company at cheap price but being cheap dosen’t mean certainly good.

His a value investor by definition his using Benjamin Graham investment philosophy.Benjamin Graham was economic professor at Columbia University,Buffett professor and mentor.

At Charlie Munger (Vicechairman Berkshire Hathaway)  suggestion Buffett have changed his investments strategy from buy cheap companies at cheap price to buy good companies.

He later exaplained: ‘’It’s far better to buy a wonderful company at fair price than a fair company at wonderful price’’

In conclusion I recomand to everybody to read this book you  will  discover the lifeof one of the most respected men in the world.The Snowball is a financial success story of capital accumulation.