CHAPTER 1 Two Great Revelations That Made Warren the Richest Person in the World In the mid-sixties Warren began to reexamine Benjamin Graham's investment strategies. In doing so he had two stunning revelations about what kinds of companies would make the best investments and the most money over the long run. As a direct result of these revelations he altered the Graham-based value investment strategy he had used up until that time and in the process created the greatest wealth-investment strategy the world has ever seen. It is the purpose of this book to explore Warren's two revelations — 1. How do you identify an exceptional company with a durable competitive advantage? 2. How do you value a company with a durable competitive advantage? — to explain how his unique strategy works, and how he uses financial statements to put his strategy into practice. A practice that has made him the richest man in the world. Copyright 2008 by Mary Buffett and David Clark
We post our audited financial statements and 990-PFs to the site as they become available. Typically, the financial statement for each year is posted the summer of the following year, while the 990-PF is available in the fall of the following year.
interpretation of financial statements warren buffett pdf download
Warren Buffett with Berkshire Hathaway, Inc. and Jeff Bezos with Amazon.com Inc. have each developed their respective companies into successful multibillion dollar corporate enterprises. Their personal wealth based on stock ownership in the companies they founded positions these men as two of the wealthiest individuals in the world. As CEOs whose outlooks, comments and actions have the power to move markets, Buffett and Bezos command the attention of shareholders, investors, business leaders, politicians and other market makers from around the world. A perusal and interpretation of their shareholder letters will certainly provide some insight into the workings of two of the greatest business minds ever. Unlike annual reports, which rely on historical financial data in formats mandated by the SEC, no requirements exist regarding style, content and structure of a shareholder letter.
Mary Buffett and David 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.
All business profiles include an Excel file containing financial statements going back at least a decade along with other important data, statistics, and charts. The Costco, Union Pacific, BNSF and George Risk profiles also include formatted PDF downloads. 2ff7e9595c
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