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Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage | 
 enlarge | Authors: Mary Buffett, David Clark
Publisher: Scribner
Category: Book
List Price: $24.95
Buy New: $13.84
You Save: $11.11 (45%)
New (49) Used (13) from $13.32
Rating:  31 reviews
Sales Rank: 5714
Media: Hardcover
Pages: 224
Number Of Items: 1
Shipping Weight (lbs): 0.8
Dimensions (in): 7.4 x 5.9 x 0.9
ISBN: 1416573186
Dewey Decimal Number: 332.632042
EAN: 9781416573180
ASIN: 1416573186
Publication Date: October 14, 2008
Availability: Usually ships in 1-2 business days
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Product Description
With an insider's view of the mind of the master, Mary Buffett and David Clark have written a simple guide for reading financial statements from Warren Buffett's succccessful perspective. Buffett and Clark clearly outline Warren Buffett's strategies in a way that will appeal to newcomers and seasoned Buffettologists alike. Inspired by the seminal work of Buffett's mentor, Benjamin Graham (The Interpretation of Financial Statements, 1937), this book presents Buffett's interpretation of financial statements with anecdotes and quotes from the master investor himself. Potential investors will discover: • Buffett's time-tested dos and don'ts for interpreting an income statement and balance sheet
• Why high research and development costs can kill a great business
• How much debt Buffett thinks a company can carry before it becomes too dangerous to touch
• The financial ratios and calculations that Buffett uses to identify the company with a durable competitive advantage -- which he believes makes for the winning long-term investment
• How Buffett uses financial statements to value a company
• What kinds of companies Warren stays away from no matter how cheap their selling price Once readers complete and master Buffett's simple financial calculations and methods for interpreting a company's financial statement, they'll be well on their way to identifying which companies are going to be tomorrow's winners -- and which will be the losers they should avoid at all costs. Destined to become a classic in the world of investment books, Warren Buffett and the Interpretation of Financial Statements is the perfect companion volume to The New Buffettology and The Tao of Warren Buffett.
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| Customer Reviews: Read 26 more reviews...
 Primer on Buffett and Reading Financial Reports January 9, 2009
Daniel Hurley (Chesapeake, VA.)
Five stars for this book because it accomplishes what it intends to be, a simple primer on how Warren Buffett invests, which means reading financial reports for critical details that tell you the financial health of the company and from that understanding, where it is going in the future. The book features over 60 short chapters starting with Buffett's philosophy on investing for the long haul and then, in a very simple format, breaks down financial statements; income statements, balance sheets and cash flow statements . The authors also explain key ratios that relate to performance such as gross profit to gross profit margin. The book also includes plenty of examples and a glossary all in less than 200 pages. Not for the accountant or someone well versed in stocks, but that's not the intended audience. For those interested in a reasonable introduction to smart investing, you can read the whole book on a three to four hour plane ride and you will see why companies like the auto industry struggle to make a profit. Of course Buffett's key, investing in companies with an incredible competitive advantage with low cost needs for retooling
Excellent Educational Resource January 9, 2009
W. Miles (Houston, TX USA)
The book contains a very detailed approach to financial statement analysis for making investment decisions. However, it explains the detail in a practical/common sense manner, which makes it easy to read and easy to comprehend even for someone who is not familiar with financial statements. For someone who is familiar with financial statements, but doesn't know how to use them to make investment decisions, this is what they need to read. It will permanently change the way they review financial statements and the value they place on them.
A concise, easy to read guide on the financial statements December 22, 2008
Jonathan George
For the beginner, who wants to unterstand company financial statements, this is a good book to have. This book gives a step by step commentary into the relevant components of a typical company's financial statement.
SIMPLE Corporate Financial Health Check List November 25, 2008
Panitte Tuangsuwan (Bangkok, Thailand)
3 out of 4 found this review helpful
This book is valuable! Think if you were Warren Buffett and looking for a company to invest. How does Buffett choose a company? How about yourself? This book tell you how. By studying this book, you should be able to identify a good company and a crap one. This is how Buffett invests.
Look! On the other side of reading this book, instead of looking at outside, it can teach how to look inside your own. What about your own company? As an entrepreneur, I also use the book as a financial health check list to improve my company. Some said information in this book is too simple and too common. (Everyone should know.) You are right! But you know what! Simple is understandable and usable. Complicated is only interesting. I believe Warren Buffett is a simple guy and that is why he's RICH. Hello Complicated! How much you got? Talking is cheap. (Doing is different!)
Thanks for reading. Get a book. It's worthy and valuable. Trust me!
Informative & Easy to Follow Book November 22, 2008
Melissa Long-Higgs (Las Vegas)
3 out of 3 found this review helpful
I found this book to be very interesting and an informative investing book. Some investing books can be overwhelming; using terms and formulas that don't make sense and you can't understand where they came up with the numbers they are discussing. You won't find that with this book. This is a small book compared to some with only 173 pages however the layout is wonderful. Within the 173 pages are 57 chapters-that is a little over 3 pages a chapter and it includes a glossary of terms in the back of the book. With these easy to follow and to the point discussions, I could read a chapter and then go straight to [...] Money; pull up the financial statements and look at exactly what I just read. The formulas in the book makes sense and are easy to do myself. I can figure out what the Gross Profit Margin or Net Worth of a company I'm interested in and if it's worth purchasing.
Can we all invest like Warren Buffet? Not exactly, however we can understand the concepts and information to look for so we can make a smarter decision in purchasing our investments. I recommend this book and wish you all the best with your investing future.
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