Customer Reviews
Good content, annoying editing - By: Ms. J. Francis, 08 Nov 2008 
Warren Buffett's insights are invaluablein any context, so this is no exception, hence the high rating. Here are essentially what seems to be some pretty old letters (1980s?) to the shareholders of Berkshire Hathaway essentially cut & pasted into a book. Useful no doubt, plentiful Buffett words of wisdom: I particularly like the stories & sayings he uses to explain a pointin simple 'relatable' terms for the reader.
However, there is another reviewer who commented that the book's editing is really rubbish. I agree. The arrangement seems a bit arbitrary & I'm not sure exactly what the author is taking credit for, since he doesn't seem to have contributed anything to the content (except the intro). Like with Benjamin Graham's 'The Intelligent Investor' (recommended btw), the essays could have been doing with some commentary & evaluation from the author to give some cohesion & continuity to the 'cutting & pasting'.
BUT, if you can be patient & creative with the content there is no reason why you can't get some useful insights from this book. I'm heading back to the original now with 'Security Analysis' by Benjamin Graham (Buffett's inspiration), reading both of their philosophies will give a good groundingin value investing,in my (albiet novice) opinion.
The only authentic Buffett - By: De Salvo Domenico, 04 Mar 2008 
Too many books contain the word Buffettin their title but only this book comes from the annual letters to shareholders. Truly authentic Buffettin his own words is much better just because he dosen't need any interpretation.
Domenico De Salvo
Prominent name, bad book - By: D. Giediminas, 30 Jan 2008 
This book tells about company strategy of Berkshire Hathaway & the history of it. Very boring, nothing interesting to learn & badly written. Complicated & confusing, skipping from one story to another & back again to first story.
Waste of money.
Wisdom from the great investor - By: mohan, 08 Dec 2007 I admire Warren Buffett & love reading what he writes. Not only is he probably the wisest investor ever but he is also very articulate & witty.
Some of the chapters, e.g. "An Owner-Based Approach to Corporate Charity", "Berkshire's Recapitalization", "Distribution of the Corporate Tax Burden", etc were not of any interest to me. Excluding such chapters, this slim volume would be even slimmer. However, the book is worth it just for the remainder.
His basic investment goal is simple: He tries to buy businesses that he can understand that have favourable, long-term prospects & are operated by honest & competent people at an attractive price. This is easier said than done, but there is some guidancein his essays as to how he does this.
Some examples of his way with words, taken at random from the first few pages:
"At too many companies, the boss shoots the arrow of managerial performance & then hastily paints the bullseye around the spot where it lands."
"A horse that can count to ten is a remarkable horse - not a remarkable mathematician."
"Should you find yourselfin a chronically-leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks."
Essence of sage - By: Petrolhead, 16 Mar 2007 Cunningham has done us a great favour. Buffett doesn't talk to the press & most books claiming to be Buffett bibles are re-hashes & interpretations, so this book of essays is the closest you will get to hearing it straight from the horse's mouth. This is Buffett's wisdom distilled from annual letters to shareholdersin his company, which Cunningham has strung together seamlessly. Although that means alot of passages refer to Buffett's own firm & its shareholdings, the lessons for investors are universal, & the "value investing" philosophy shines through. If that was all there was to recommend the book it would still be a must-have for anyone interestedin making money. But it is also a great read.
Buffett comes across as the most genial, honest & no-nonsense guyin the financial world. He also has a wonderfully impish sense of humour & had me chuckling out loud (and then tryingin vain to explain the joke to my girlfriend...) The only bits where he slightly lost me was when comparing investing with baseball, but I think I got the gist of it. Anyway, Buffett writes as clearly as he thinks & is as modest & self-deprecating as he is authoritative. He treats his readers like the investors they are, so this is not an "entry level" book & it might be a struggle if you don't know the difference between a fixed asset & a preference share, but otherwise it is a book that you won't regret buying.
I can't recommend it highly enough.
