Chapter 2 foreword

Roger.Lowenstein I am a Berkshire.A longtime investor in Hathaway, which Buffett controls, and a Wall Street Journal financial reporter for more than a decade began studying Warren.Buffett's. Theoretically, this book has not only investors' familiarity with the profession, but also the objectivity of journalists.As for whether these wishes can be realized, it is up to the reader to make a judgment. I began writing this book in the fall of 1991, when Buffett was trying to save Salomon Brothers.For my creation, Buffett told me that he would not give any help, but he would not interfere.He also specifically assured that he neither encourages nor opposes obtaining material through other sources.He kept his word, but Buffett has allowed me to cite numerous articles he has written, which are invaluable sources.

The completion of this book has benefited from the visits to many collaborators. There are Buffett’s family members, friends, assistants and others. It is stated in the cornernote or in the corner note, but sometimes the source of the information is not noted when it is well known. For example, most of the conversations or events involving Buffett and the other party are the result of visiting the other party. I want to mention a few people in particular, Roxanne.Brandt, Ken.Chase, Bob.Goldfarb, Stan.Lipsey, Barbara.Moreau and Charlie.Munger, who I've asked for help many times, has reached out to them with an investigative attitude that rivals that of the best journalists.Buffett's sister Doris, younger sister Roberta, and his three children, Susie, Howie, and Peter, are loyal family members who have provided me with invaluable and generous help in understanding the Buffett family.

In the age of computers, Bruce of the Wall Street Journal.Levy, Jenny of the Omaha World-Herald.Hauser, Stephen.Allard proves that good librarians are still irreplaceable.I also want to thank the editors at The Wall Street Journal for being extraordinarily lenient when I took a long vacation to work on this book. Special thanks to the perceptive and forgiving reader - Neil.Barsky, Robert.Goodman, Andrew.Loewenstein, Jeffrey.Tanebaum; my agent Milani.I am very grateful to Jackson for his enthusiasm for this book from the beginning; Ann, the editor of this book.Godolph gave an unabashed and very accurate criticism.Without these, this book would be far from satisfactory, and for young children Matthew, Zachary, and Ellison, the writing of this book took half of their years. (I'll always miss you too.) Finally, I must mention some of the gifts I got from my parents, among them my father's love of finance and consistent moral values.

What Buffett taught me bill.Gates Roger.Lowenstein wrote Warren.When reading Buffett's biography, he declared that he was not responsible for the consequences of this book.Lowenstein revealed that he is a long-term investor in Berkshire.Hathaway Company.Under Buffett's management, the company's stock value climbed from $7.60 per share to around $30,000 in 32 years. When commenting on Lowenstein's work, I must also declare that I am not responsible for the consequences caused by this article.Speaking of Warren.Buffett, it's hard for me to be objective or calm because we're best friends.Recently, both of us took our wife to China for vacation.I thought his jokes were hilarious, and his diet—a lot of hamburgers and Cokes—was fantastic.In short, I am a "Buffett fan".

It is easy to become a "Buffett fan", and there are many "The Growth of an American Capitalist-Warren the World's Richest Man".Readers of Buffett's Biography will no doubt join the ranks.Lowenstein's book is a candid account of Buffett's remarkable life.While the book doesn't quite capture Buffett's wit, courtesy, and charm, his unique personality is there.I'm afraid every reader will end up thinking, "Well, I like this guy." Everyone knows a thing or two about Buffett's career, and this book provides many more interesting details.Lowenstein traces Buffett's life: from being born in Omaha, Nebraska, in 1930 to his first stock purchase at age 11; from being taught by the legendary Columbia University securities professor Benjamin.Graham, creating his own empire by the age of 27.Buffett has always been tight-lipped about the stocks he invests in, but he is open and honest about his investment theory, that is, buy stocks at the lowest price and wait patiently.Warren once explained to his partners in a letter, "Our investment philosophy is: Don't expect to be in a big business. If the price is low, even a medium business can be very profitable."

Readers can learn from Lowenstein how Buffett controls Berkshire.Hathaway and pour money into it, with the ultimate goal of buying shares in other companies.The book charts the evolution of Berkshire into a holding company and its investment rationale as Warren set foot in the financial world and other industries with moderate economic potential, such as some major newspapers.Today, Berkshire owns the See's candy chain, The Buffalo News, World Book Publishing, and owns American Express, ABC, The Coca-Cola Company, Garnett, Gillette, and Major stake in The Washington Post. Its stake in CEICO is also significant.

After reading the book, readers may feel that they have benefited a lot from business and investment, but it is difficult to determine whether the theory can be successfully put into practice.Warren's gift lies in his ability to see where things are going, and to do that, it takes more than memorizing Warren's aphorisms, although Warren's plethora of them are worth memorizing. For example, Warren likes to say when it comes to investing: If you don't go into the tiger's den, you can't catch the tiger.It's like playing baseball. To hit the ball well, you have to swing the bat. It may hit the ball well or it may fail.When you have a bat in hand, you don't have to think about every pitch.In other words, you don't need to know every stock or every investment opportunity thoroughly, and you don't have to sigh if some stocks are not bought but appreciate very fast.

Warren believes that it is enough to hit a dozen or so good shots in a lifetime. Of course, to do this requires a lot of analysis and research. This is exactly what Warren does. When he invests in a company, he always reads all the annual reports he can find to understand the company's development and strategy.Once she buys a company or company stock, Warren is reluctant to change hands. Another Buffett dictum that reflects his passion for long-term investing is, "You invest in a business that, even if managed by a fool, should work just fine. Because someday, the fool will figure it out."