The Warren Buffett Way, Third Edition + Website

Warren Buffett is the most famous investor of all time and one of today's most admired business leaders. He became a billionaire and investment sage by looking at companies as businesses rather than prices on a stock screen. The first two editions of The Warren Buffett Way gave investors their first in-depth look at the innovative investment and business strategies behind Buffett's spectacular success. The new edition updates readers on the latest investments by Buffett. And, more importantly, it draws on the new field of behavioral finance to explain how investors can overcome the common obstacles that prevent them from investing like Buffett.

New material includes:
* How to think like a long-term investor - just like Buffett
* Why "loss aversion", the tendency of most investors to overweight the pain of losing money, is one of the biggest obstacles that investors must overcome.
* Why behaving rationally in the face of the ups and downs of the market has been the key to Buffett's investing success
* Analysis of Buffett's recent acquisition of H.J. Heinz and his investment in IBM stock

The greatest challenge to emulating Buffett is not in the selection of the right stocks, Hagstrom writes, but in having the fortitude to stick with sound investments in the face of economic and market uncertainty. The new edition explains the psychological foundations of Buffett's approach, thus giving readers the best roadmap yet for mastering both the principles and behaviors that have made Buffett the greatest investor of our generation.

Warren Buffett remains one of the most sought-after and watched figures in business today. He has become a billionaire and investment sage by buying chunks of companies and holding onto them, managing them as businesses, and eventually reaping huge profits for himself and investors in Berkshire Hathaway. The first two editions of The Warren Buffett Way gave investors their first in-depth look at the innovative investment and business strategies behind the spectacular success of living legend Warren E. Buffett. Tracing Warren Buffett's career from the beginning, Hagstrom told readers exactly how, starting with an initial investment of only $100 Buffett built a business empire and has an estimated net worth of $44 billion. The Third Edition of The Warren Buffett Way will focus on the timeless principles and strategies behind Buffetts extraordinary investment success.  There will be new chapters on the important distinctions between investment and trading and an examination of the most successful disciples of Warren Buffett.  Some less important material will be deleted and the overall focus will be to create an edition that will stand the test of time, distilling Buffetts success formula in a way that will provide value to readers for decades to come.  Plaudits from previous editions: "Warren Buffett is surely the Greatest Investor of this century--not so much because he built a great fortune within a free market as because he has shared his important thinking with us and has openly demonstrated the sagacity and courage so vital to success. Berkshire Hathaway has been my largest, longest investment. Warren has been my best teacher." -Charles D. Ellis Managing Partner Greenwich Associates "The Warren Buffett Way outlines his career and presents examples of how his investment techniques and methods evolved and the important individuals in that process. It also details the key investment decisions that produced his unmatched record of performance. Finally the book contains the thinking and the philosophy of an investor that consistently made money using the tools available to every citizen no matter their level of wealth." -from the Foreword by Peter S. Lynch Bestselling author, One Up on Wall Street and Beating the Street "Robert Hagstrom presents an in-depth examination of Warren Buffett's strategies, and the 'how and why' behind his selection of each of the major equity securities that have contributed to his remarkable record of success. His 'homespun' wisdom and philosophy are also part of this comprehensive, interesting, and readable book." -John C. Bogle Chairman, The Vanguard Group "Warren Buffett is often characterized simply as a 'value investor' or a 'Ben Graham disciple.' Hagstrom fills in the rest of the story with some immensely practical pointers on prospering in the market." -Martin S. Fridson Managing Director Merrill Lynch

Warren Buffett is the most famous investor of all time and one of todays most admired business leaders. He became a billionaire and investment sage by looking at companies as businesses rather than prices on a stock screen. The first two editions of The Warren Buffett Way gave investors their first in-depth look at the innovative investment and business strategies behind Buffetts spectacular success. The new edition updates readers on the latest investments by Buffett. And, more importantly, it draws on the new field of behavioral finance to explain how investors can overcome the common obstacles that prevent them from investing like Buffett.  New material includes:  How to think like a long-term investor - just like Buffett Why loss aversion, the tendency of most investors to overweight the pain of losing money, is one of the biggest obstacles that investors must overcome. Why behaving rationally in the face of the ups and downs of the market has been the key to Buffetts investing success Analysis of Buffetts recent acquisition of H.J. Heinz and his investment in IBM stock  The greatest challenge to emulating Buffett is not in the selection of the right stocks, Hagstrom writes, but in having the fortitude to stick with sound investments in the face of economic and market uncertainty. The new edition explains the psychological foundations of Buffetts approach, thus giving readers the best roadmap yet for mastering both the principles and behaviors that have made Buffett the greatest investor of our generation.