The Warren Buffett Way: The World’s Greatest Investor

Index 243

management tenets, 81–108

value tenets, 121–139

Jain, Ajit, 37
Justin, Enid, 72, 73
Justin, H. J. ( Joe), 72
Justin, John, Jr., 72, 73, 74, 75
Justin Industries, 44, 72–76

Kern River Gas Transmission Project,
153
Keynes, John Maynard, 4
Kiehne, Ernie, 204 –205
Kilpatrick, Andrew, 57
Kirby Vacuum Cleaners, 44

Lama, Tony, 73
Larson-Juhl, 45, 71, 132–134
Larson Picture Frame, 132
Learning from others, 11
Legg Mason, 147–148
Legg Mason Growth Trust, 203
Level 3 Communications, 146–148
Longleaf Partners, 147–148
Loomis, Carol, 85
Loss aversion, 185

Malfeasant accounting, 104 –105
Management, quality of, 18
Management, value of, 106–108
Management tenets, 59, 81–108
Managing your portfolio, 157–175
Margin of safety, 13, 25, 131
Market, stock:
f luctuation, folly of, 25
Market potential, 17
Market value, 53, 70
Markowitz, Harry, 20, 164
Mauboussin, Michael, 208–209
McLane, Robert Drayton, 47
McLane, Robert Drayton, Jr., 47
McLane Company, 47–48, 79

Mental accounting, 185–186

Meyer, Eugene, 55

Microsoft, 123

MidAmerican Energy Holdings

Company, 152–154

Miller, Bill, 204 –206, 210

Mindless imitation as a cause of failure,

98–99

Mistakes, value of, 95

MiTek, 44 –45

Moat, def ining a, 70 –71

Mockler, Colman, 52, 127

Modern f inance theory:

Fama, Eugene, 20

Markowitz, Harry, 20

Modern portfolio theory, 21–22,

163–166

Modigliani, Franco, 20

Money, psychology of, 177–188

Mr. Market, 181–183

Munger, Charles, 2, 11, 22–24, 107,

188, 198

on Berkshire Hathaway, 22–23, 33,

95

vs. Buffet’s philosophy, 23 , 131

on fair price for quality, 23, 131

and Graham, 28, 167

and Mr. Market, 182–183

psychology of misjudgment, 28

talents of, 167–168

National Fire & Marine Insurance

Company, 31

National Indemnity Company, 31, 97

Nebraska Furniture Mart, 43

Negative cost of f loat, 35

Newman, Jerome, 12

Nocona, 73

Notebaert, Dick, 149

Oakwood Homes, 46

One-dollar premise, 117–118