235Acknowledgments
T
o begin, I want to express my deep gratitude to Warren Buffett for
his teachings and for allowing me to use his copyrighted material.
It is next to impossible to improve on what Warren has already
said. This book is the better for being able to use his own words instead
of subjecting you to a second-best paraphrase.
Thanks also to Charlie Munger for his contributions to the study of
investing. His ideas on the “psychology of misjudgment” and the “lat-
ticework of mental models” are extremely important and should be ex-
amined by all. My appreciation to Charlie also includes thanks for his
thoughtful conversations and his earliest word of encouragement and
support.
In the development of my investment skills, no one has been more
important in moving me from the theoretical to the practical than Bill
Miller. Bill has been my friend and intellectual coach for over twenty
years. His generosity is unmatched. As CEO of Legg Mason Capital
Management, Bill has taken me by the hand and showed me how to
apply Warren Buffett’s approach to all types of companies, including
those participating in the landscapes of the New Economy. What is par-
ticularly exciting for me is that Bill is not only a friend and teacher, but
also a colleague.
I am also fortunate to work in an environment that supports and
promotes rational investing. And so I would like to thank all my col-
leagues at Legg Mason including Nancy Dennin, Mary Chris Gay, Ernie
Kiehne, Kyle Legg, Ira Malis, Michael Mauboussin, Jennifer Murphy,