Investment guru Warren Buffett is called a «visionary» by many. Buffett himself says that predicting market behavior is pointless and only patience, frugality and adherence to principles will help to achieve long-term success. He has been taking this pragmatic approach since organizing his first partnership, Buffett Partnership Limited (BPL) in 1956. It was then that young Buffett began sending letters to partners every six months, in which he spoke about the results of his work and explained in detail his methods of investing. Buffett does not write books, but his letters to partners, collected in this edition, provide an insight into the mindset and investment philosophy of the great entrepreneur.
The book’s author, investment analyst Jeremy Miller, combines the letters by topic, analyzing the success story of BPL from 1956 to 1970, the period, according to Buffett himself, with the highest return he has ever received. The approaches outlined here, despite the evolution in investment methods, do not lose their relevance to this day.
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