The Essays of Warren Buffett: Lawrence Cunningham - 2013

It is safe to say that Warren Buffett is the most valuable man in finance. Worth over 15 billion, Buffett has attained wisdom and knowledge that surpasses his time. In his book, The Essays of Warren Buffett, Lawrence Cunningham has collected Buffett’s best works into one solid book. Warren Buffett is known to be a silent type, keeping what he knows under wraps and keeping the world guessing. To answer the much-asked question, “How does he do it?” we can look to The Essays of Warren Buffet for the answer. Here is a collection of his most valuable knowledge and opinions that have caused him to have great success in the financial market. Cunningham adds these essays into themes to allow for easy readability and research. This book is the perfect companion to any investor and those learning how to cope with the financial world.

“I thought then that decent, intelligent, and experienced managers would automatically make rational business decisions. But I learned over time that isn’t so. Instead, rationality frequently wilts when the institutional imperative comes into play. For example: (1) As if governed by Newton’s First Law of Motion, an institution will resist any change in its current direction; (2) Just as work expands to fill available time, corporate projects or acquisitions will materialize to soak up available funds; (3) Any business craving of the leader, however foolish, will be quickly supported by detailed rate-of-return and strategic studies prepared by his troops; and (4) The behavior of peer companies, whether they are expanding, acquiring, setting executive compensation or whatever, will be mindlessly imitated.”

It is evident that the success of Buffett can be attributed to his overwhelming knowledge and his attitude towards life in general. Cunningham adds all of this knowledge together to form one idea: Buffett’s success does not stand in money alone. Instead, the way he lives is a testament to his success. His attitude speaks for itself. And his overwhelming achievements can only be the effect of hard work and extreme dedication.