The Warren Buffett Way: The World’s Greatest Investor
54 THE WARREN BUFFETT WAY margins. The company stands to benef it not only from increasing unit sales but from steadily improvin ...
Buying a Business 55 placed in receivership. That summer, the company was sold at auction to satisfy creditors. Eugene Meyer, a ...
56 THE WARREN BUFFETT WAY For the next two years, while business at the paper was improving, the mood on Wall Street was turning ...
Buying a Business 57 Donald E. Graham, son of Phil and Katherine, is chairman of the board of the Washington Post Company. Don G ...
58 THE WARREN BUFFETT WAY California banks in droves. At the time, the West Coast was in the throes of a severe recession and so ...
Buying a Business 59 from the company’s f inancial statements. They behave as if the market’s ever-changing price is a more accu ...
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61 5 Investing Guidelines Business Tenets W e come now to the heart of the matter—the essence of Warren Buffett’s way of thinkin ...
62 THE WARREN BUFFETT WAY that have guided his decisions. If we extract these tenets and spread them out for a closer look, we s ...
Investing Guidelines: Business Tenets 63 A SIMPLE AND UNDERSTANDABLE BUSINESS In Buffett’s view, investors’ f inancial success i ...
64 THE WARREN BUFFETT WAY big mistakes.”^5 Producing above-average results, Buffett has learned, often comes from doing ordinary ...
65 CASE IN POINT BENJAMINMOORE, 2000 In November 2000, Warren Buffett and Berkshire Hathaway paid about $1 billion for Benjamin ...
66 does not expect to have to change much. His modus operandi is to buy companies that are already successful and still have po- ...
Investing Guidelines: Business Tenets 67 In 1969, Buffett bought his f irst major newspaper, the Omaha Sun, along with a group o ...
68 THE WARREN BUFFETT WAY consistent results with the same type of products year after year, it is not unreasonable to assume th ...
Investing Guidelines: Business Tenets 69 cases of soft drinks annually ( having converted sales from gallons to cases). That yea ...
70 THE WARREN BUFFETT WAY popular Sensor, a razor with independently suspended blades. Gillette’s consistent success is a result ...
Investing Guidelines: Business Tenets 71 “is determining the competitive advantage of any given company and, above all, the dura ...
72 CASE IN POINT JUSTININDUSTRIES, 2000 In July 2000, Berkshire Hathaway bought 100 percent of Texas- based Justin Industries fo ...
73 Justin Boots, known for rugged, long-lasting boots for working cowboys, remains the f lagship brand. But Justin Brands includ ...
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