Kindle
$13.00
Available instantly
Audible Logo Audiobook
$0.00
with membership trial
Hardcover
$27.00
Paperback
from $33.43
Kindle Price: $13.00

Promotions apply when you purchase

These promotions will be applied to this item:

Some promotions may be combined; others are not eligible to be combined with other offers. For details, please see the Terms & Conditions associated with these promotions.

Audiobook Price: $15.75

Save: $6.76 (43%)

Read with our free app
You've subscribed to ! We will preorder your items within 24 hours of when they become available. When new books are released, we'll charge your default payment method for the lowest price available during the pre-order period.
Update your device or payment method, cancel individual pre-orders or your subscription at
Your Memberships & Subscriptions

Buy for others

Give as a gift or purchase for a team or group.
Learn more

Buying and sending eBooks to others

  1. Select quantity
  2. Buy and send eBooks
  3. Recipients can read on any device

These ebooks can only be redeemed by recipients in the US. Redemption links and eBooks cannot be resold.
Kindle app logo image

Download the free Kindle app and start reading Kindle books instantly on your smartphone, tablet, or computer - no Kindle device required.

Read instantly on your browser with Kindle for Web.

Using your mobile phone camera - scan the code below and download the Kindle app.

QR code to download the Kindle App

Amazon book clubs early access
Loading your book clubs
There was a problem loading your book clubs. Please try again.
Not in a club? Learn more
Amazon book clubs early access

Join or create book clubs

Choose books together

Track your books
Bring your club to Amazon Book Clubs, start a new book club and invite your friends to join, or find a club that’s right for you for free.
Explore Amazon Book Clubs

Follow the author

Robert G. Hagstrom
+ Follow
More books from this author
Something went wrong. Please try your request again later.

The Warren Buffett Way Kindle Edition

by Robert G. Hagstrom (Author), Howard Marks (Foreword), Bill Miller (Foreword), Format: Kindle Edition
4.7 4.7 out of 5 stars 2,502 ratings
Best Price in 30 Days
Best Price in 30 Days means that the current price is lower than, or equal to, the lowest price this item sold for on Amazon.com in the past 30 days.
See all formats and editions
Great on Kindle
Great Experience. Great Value.
iphone with kindle app
Putting our best book forward
Each Great on Kindle book offers a great reading experience, at a better value than print to keep your wallet happy.

Explore your book, then jump right back to where you left off with Page Flip.

View high quality images that let you zoom in to take a closer look.

Enjoy features only possible in digital – start reading right away, carry your library with you, adjust the font, create shareable notes and highlights, and more.

Discover additional details about the events, people, and places in your book, with Wikipedia integration.
Get the free Kindle app: Link to the kindle app page Link to the kindle app page
Enjoy a great reading experience when you buy the Kindle edition of this book. Learn more about Great on Kindle, available in select categories.

Warren Buffett is the most famous investor of all time and one of today’s most admired business leaders. He became a billionaire and investment sage by looking at companies as businesses rather than prices on a stock screen. The first two editions of The Warren Buffett Way gave investors their first in-depth look at the innovative investment and business strategies behind Buffett's spectacular success. The new edition updates readers on the latest investments by Buffett. And, more importantly, it draws on the new field of behavioral finance to explain how investors can overcome the common obstacles that prevent them from investing like Buffett.

New material includes:

  • How to think like a long-term investor – just like Buffett
  • Why "loss aversion", the tendency of most investors to overweight the pain of losing money, is one of the biggest obstacles that investors must overcome.
  • Why behaving rationally in the face of the ups and downs of the market has been the key to Buffett's investing success
  • Analysis of Buffett's recent acquisition of H.J. Heinz and his investment in IBM stock

The greatest challenge to emulating Buffett is not in the selection of the right stocks, Hagstrom writes, but in having the fortitude to stick with sound investments in the face of economic and market uncertainty. The new edition explains the psychological foundations of Buffett's approach, thus giving readers the best roadmap yet for mastering both the principles and behaviors that have made Buffett the greatest investor of our generation.

Read more Read less
Previous page
  1. Print length
    388 pages
  2. Language
    English
  3. Sticky notes
    On Kindle Scribe
  4. Publisher
    Wiley
  5. Publication date
    September 13, 2013
  6. File size
    5091 KB
  7. Page Flip
    Enabled
  8. Word Wise
    Enabled
  9. Enhanced typesetting
    Enabled
  10. See all details
Next page
Add a debit or credit card to save time when you check out
Convenient and secure with 2 clicks. Add your card
Popular Highlights in this book
What are popular highlights?
Previous page
  1. He looks for companies he understands, with favorable long-term prospects, that are operated by honest and competent people, and, importantly, are available at attractive prices.
    Highlighted by 1,047 Kindle readers
  2. “An investment operation is one which, upon thorough analysis, promises safety of principal and a satisfactory return. Operations not meeting these requirements are speculative.”
    Highlighted by 1,041 Kindle readers
  3. 1. Focus on return on equity, not earnings per share. 2. Calculate “owner earnings” to get a true reflection of value. 3. Look for companies with high profit margins. 4. For every dollar retained, make sure the company has created at least one dollar of market value.
    Highlighted by 913 Kindle readers
  4. The key lesson that Buffett took from Graham was: Successful investing involves purchasing stocks when their market price is at a significant discount to their underlying business value.
    Highlighted by 905 Kindle readers
Next page

Editorial Reviews

Amazon.com Review

More to Explore: See More Warren Buffett Guides



 Title The Warren Buffett Way, + Website The Warren Buffett Way Workbook The Warren Buffett Way Video Course Guide Type Professional Guide Workbook Video Course Audience Level Professional Professional Professional Pages 320 224 DVD List Price $29.95 $24.95 $40.00 Publication Date September, 2013 September, 2013 September, 2013 Author(s) Hagstrom Hagstrom and Rhodes Hagstrom Imprint Wiley Wiley Wiley ASIN 1118503252 1118574710 1118614402 Edition 3 1 1 Brief Description Third edition of the international bestselling guide to Warren Buffett's investment methods - completely revised and updated. Consists of over 500 questions and answers to help apply and reinforce learning from The Warren Buffett Way third edition. A video course by Robert Hagstrom that accompanies The Warren Buffett Way book and workbook. Can be used as a standalone or as enhancement to the book.

From the Inside Flap

Over an investment career that is six decades and counting, Warren Buffett has confronted countless challenges and navigated his way to unparalleled success. His humility, integrity, and intellectual spirit have endeared him to millions of investors around the world, and continue to ignite intense interest in how he goes about his business. That's why Robert Hagstrom has returned with the Third Edition of The Warren Buffett Way.

Despite the avalanche of information available to today's investor, many still struggle to earn a profit. But far above the market madness stands the insights and experience of Warren Buffett. In this latest edition of The Warren Buffett Way, Hagstrom puts the "Oracle of Omaha's" investment philosophy in perspective, while revealing how you can incorporate his effective approach into your own endeavors.

Opening with an engaging look at Buffett's personal and professional history, this timely book quickly moves on to introduce the individuals from Benjamin Graham and Philip Fisher to Charlie Munger who influenced the way Buffett looks at investing.

From here, Hagstrom begins to breakdown Buffett's methodology and makes a case for why what Buffett does is "not beyond anybody else's competence." You'll become familiar with Buffett's proven approach to selecting stocks as well as buying businesses both of which follow a similar pattern built on timeless principles codified into twelve tenets. You'll discover firsthand how his principles are applied to many Berkshire Hathaway purchases, including the classic purchase of Coca-Cola and more recent transactions involving IBM and Heinz. And after learning how to make rational decisions about which stocks to buy, Hagstrom shows you how to pull it all together by addressing why Buffett thinks focus investing greatly simplifies the task of portfolio management. Along the way, you'll gain essential insights into the psychological challenges of managing a Warren Buffett portfolio as well as the role of patience in long-term investing.

Warren Buffett's career of successfully managing money spans nearly sixty years. Integrating his tenets into your thinking and basing your investment decisions on them may not make you billions, but it will put you in a better position to improve your portfolio's bottom line over time.

Product details

  • ASIN ‏ : ‎ B00FAMMZN8
  • Publisher ‏ : ‎ Wiley; 3rd edition (September 13, 2013)
  • Publication date ‏ : ‎ September 13, 2013
  • Language ‏ : ‎ English
  • File size ‏ : ‎ 5091 KB
  • Text-to-Speech ‏ : ‎ Enabled
  • Screen Reader ‏ : ‎ Supported
  • Enhanced typesetting ‏ : ‎ Enabled
  • X-Ray ‏ : ‎ Enabled
  • Word Wise ‏ : ‎ Enabled
  • Sticky notes ‏ : ‎ On Kindle Scribe
  • Print length ‏ : ‎ 388 pages
  • Customer Reviews:
    4.7 4.7 out of 5 stars 2,502 ratings

About the author

Follow authors to get new release updates, plus improved recommendations.
Robert G. Hagstrom

Robert G. Hagstrom

Brief content visible, double tap to read full content.
Full content visible, double tap to read brief content.

Discover more of the author’s books, see similar authors, read author blogs and more

Customer reviews

4.7 out of 5 stars
4.7 out of 5
2,502 global ratings

Top reviews from the United States

Oded Regev
5.0 out of 5 stars Excellent book to complement Berkshire annual letters
Reviewed in the United States on May 17, 2023
Verified Purchase
I got deep into the Warren Buffet rabbit hole in the past year. Got to read all of Berkshire annual letters. I searched for a good complementary book that will allow me to learn more directly about how can I use WB methods in my own portfolio selection. This book is the exact thing that I wished for. Full of knowledge and construct in a very clean and easy to understand way to help someone like me with concrete steps to use.
6 people found this helpful
Helpful
 Report
Kyungbae Kim
5.0 out of 5 stars enjoying legendary stories of the investment giant
Reviewed in the United States on October 7, 2017
Verified Purchase
nicely summarized investment principle
as well as good background necessary knowledge with persuasive explanation

I personally got the answer to my life long unsolved question; what does common stock investment (especially in the secondary market) really contribute to the society really? (other than just betting on the company’s share price which gives no additional value either to the company nor to the society)

the answer I realized is that becoming long term value investor could contribute to both the company and society because it helps to find right share price eventually and sound investment environment
8 people found this helpful
Helpful
 Report
Karol
4.0 out of 5 stars Good book
Reviewed in the United States on August 24, 2020
Verified Purchase
If you want to learn about Warren Buffet and his way of investing I believe this is a good book to start with.
One person found this helpful
Helpful
 Report
Amazon Customer
5.0 out of 5 stars Chew, enjoy and digest the Buffett Way
Reviewed in the United States on October 25, 2014
Verified Purchase
I am not finished yet merely half-way into the book but I wanted to review this book; I just could not wait ;-) to tell you all about it. I am taking my time and digesting it all because the meat needs to be chewed, enjoyed and digested thoroughly. I am enjoying each aspect of this book and can't say enough...............I am loving this book.

I have purchased several books pertaining to Buffett and have followed him and his work for a few years. I was interested in him not only because of his investments but his character is to be rewarded; money isn't everything. I have not finished the other books that I have purchased about him but want to be able to absorb this one first before moving forward into the others. Nor have I gotten a chance to delve into the website yet, I can't wait.

This book helps you to see and delve into the ways into which Buffett processes his investments but also shows how his upbringing, mentors and experiences has helped him in his investment endeavors and the investment choices that he makes as seen in Chapter 2: The Education of Warren Buffet. Here it provides an understanding of the industry and having hands on experience does help but in not letting money be your guide is best. Once you understand then you can make better and educated decisions.

Everyone may not be able to have the same types of successes as Buffett has had but to understand the method behind the man says a lot. Robert G. Hagstrom does a good job in breaking down the book. As in Chapter 4: Common Stock Purchases - Nine Case Studies in the tenets that he uses are valuable from Simple and Understandable and Price Point to Candor/Rationality. Stay tuned for a follow-up from me once I finish the book and review the website.

Up unto this point this book is Highly Recommended.
23 people found this helpful
Helpful
 Report
Ash W
5.0 out of 5 stars Gift it
Reviewed in the United States on January 11, 2024
Verified Purchase
bought as a gift, recipient was happy
One person found this helpful
Helpful
 Report
Joshua
5.0 out of 5 stars Practical advice on Buffett-like Value Investing
Reviewed in the United States on December 12, 2014
Verified Purchase
I have read many books on value investing. This is far and away among the top books that I will re-read over the years to come. (Others include The Intelligent Investor; The Most Important Thing; Common Stocks, Uncommon Profits; The Essays of Warren Buffett; and Margin of Safety). Mr. Hagstrom has put together a great primer on how to evaluate a company as an investment. His tenets are great checklist for your thinking as you evaluate the merits of a company and its value and then apply a margin of safety to figure out if it is attractively priced. I would highly suggest that you also purchase something along the lines of William Sahlman's Note on Free Cash Flow Valuation Models available through Harvard Business Review if you're now sure how to perform a discounted cash flow model. I would definitely recommend buying and studying this book.
45 people found this helpful
Helpful
 Report
Mark91345
5.0 out of 5 stars I've heard this, in the car, maybe 10 ...
Reviewed in the United States on April 10, 2015
Verified Purchase
I've heard this, in the car, maybe 10 or 20 times. It makes me think -- and feel -- the importance of studying, and of course, what to actually study. I have a hard time understanding Annual Reports (from publicly traded companies), as all those accounting terms, and GAAP standards (hardy har har) make it difficult to figure out if a company is making more money than it spends, but more importantly Hagstrom's book gives an insight into Buffett's approach which includes, as an example, reading all those "footnotes", as well getting a feel for whether management is doing what they say they're going to do.

I think that companies' annual reports are partly "boilerplate" info, but I also think they are INTENDED to obfuscate, since the real question is to determine whether a company makes more than it spends (profit), and secondly whether shareholders tend to benefit (or if the company plows that cash back into their own agenda).
14 people found this helpful
Helpful
 Report
dan
5.0 out of 5 stars It’s a book by Robert Hagstrom, best portfolio manager.
Reviewed in the United States on August 6, 2022
Verified Purchase
It’s a good read about investments in stocks. But it’s easier to just use his portfolio because it’s really good.
Helpful
 Report

Top reviews from other countries

Translate all reviews to English
Raphael Cavalcanti
5.0 out of 5 stars Excellent! Amazing book
Reviewed in Canada on March 8, 2022
Verified Purchase
Excellent! Amazing book for all investors strategies.
Report
João Curral
2.0 out of 5 stars Encomenda com danos
Reviewed in Spain on September 14, 2023
Verified Purchase
Customer image
João Curral
2.0 out of 5 stars Encomenda com danos
Reviewed in Spain on September 14, 2023
Images in this review
Customer image Customer image
Customer imageCustomer image
Report
Dama Demolizioni
5.0 out of 5 stars Ottimo libro
Reviewed in Italy on February 18, 2023
Verified Purchase
Per la scuola
Report
Neelesh Das
5.0 out of 5 stars Incredible and Outstanding Book
Reviewed in India on August 9, 2021
Verified Purchase
The Warren Buffett Way Investment is a patience game. All investors need to have patience to become successful one. In this book, “The Warren Buffett Way”, written by Robert G Hagstorm has given several key aspects of Warren Buffett ideology in stock market investment. We all know Buffett has accumulated all of his wealth by investing in stock market. According to him there is no significant difference between buying a business outright and buying a piece of business in the form of share of stock. Thi s book has been divided into eight chapters; each chapter has given a significant lesson for the investors to accumulate wealth in stock market. Chapter 1: A Five Sigma Event: The World’s Greatest Investors Chapter
2: The Education Of Warren Buffett Chapte r 3: Buying a Business: The Twelve Immutable Tenets
Chapter 4: Common Stock Purchase: Nine Case Studies Chapter
5: Portfolio management: The Mathematics of Investing Chapter
6: The Psychology of Investing
Chapter 7: The Value of Patience
Chapter 8: The Wor ld’s Greatest Investors

Key Takeaways:
❖ Business Tenets: While investing in stock market Buffett doesn’t think about the market theory, macroeconomic factors, sectors trends etc. He focuses on,
• Concept Of Business: Invest in those stocks which is relevant to understand their business models for you . Before investing all the investors need to have a clear generated models idea about the mode of operations, revenue , capital allocation model, cash flow etc. Understanding the business model allows investors to manage their portfolio efficiently.
• Consistent Operating History: All businesses need to have consistency in their operation. If a business is able to generate consistent result over a period of time wi th same product and services, then it is reasonable to assume that those result will continue .
Favourable long-Term Prospect: Every organisation needs to have long term plan sustainable planning. While investing investors need to have focus on long term prospect of business.
❖ Management Tenet: Organisation can’t be succeeded in long term if the management is not honest and consistent. Role of the managers is not only to make organisation profitable but also to efficient allocation of capital for creating shareholders wealth. Managers need to be,
• Rational
• Candor: Management need report company’s performance with genuinely before shareholders and admits mistakes as well as share success.
Strong management can make the company’s head held high. Every individual investors need to analyse behaviour of management before investing.
❖ Financial Tenets: One of the most important tenets of investing is to analyse the financial position of an Organisation. Investors need to invest by keeping following things in mind,
• Chose those companies whose profit margin is high to avoid loss.
• The value of the company should be accurate with the share price.
• Past Performance of the company and how management has accomplished its goal of creating shareholders value.
❖ Market tenets: Rational investing of a company has two components,
• What is the value of the business?
• Can the business be purchased at a significant discount to its value?
Determining the cash flow with a degree od certainty plays an important role while investing.
❖ Besides all the above points its also important to build a focus portfolio. In this chapter several examples of focus investors are there which will help investors to build efficient portfolio for long term success.
❖ Patience is the key factor in stock market investing, slowly and careful analysis of every situation is an important factors all investors need to do.

Several ways of Warren Buffett have been mentioned here which will help the investors for creating efficient portfolio and help them to maximise their wealth. All words will fall short to describe how outstanding book it is.

Conclusion: In this book the Buffett’s principles of investment have been analysed in a broader way. Author has also captured the ideology of Benjamin Graham, Philip Fisher and Charlie Munger. Individual investors can navigate the rule, ideology and principles of the world greatest investors. Author has n icely combined the psychological phenomenon of investment with probability theories. In one sentence it’s not a Investment book it’s an Investment Bible.
43 people found this helpful
 Report
David
5.0 out of 5 stars Excelente
Reviewed in Mexico on December 31, 2019
Verified Purchase
Excelente
Report
Report an issue

Does this item contain inappropriate content?
Report
Do you believe that this item violates a copyright?
Report
Does this item contain quality or formatting issues?
Report