The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy

ISBN-13: 9780471392644 / Angielski / Miękka / 2000 / 256 str.

Robert G. Hagstrom

Opis

The Warren Buffett Way provided the first look into the strategies that the master uses to pick stocks. A New York Times bestseller, it is a valuable and practical primer on the principles behind the remarkable investment run of the famed oracle of Omaha. In this much-awaited companion to that book, author Robert Hagstrom takes the next logical step, revealing how to profitably manage stocks once you select them. THE WARREN BUFFETT PORTFOLIO will help you through the process of building a superior portfolio and managing the stocks going forward.

Building a concentrated portfolio is critical for investment success. THE WARREN BUFFETT PORTFOLIO introduces the next wave of investment strategy, called focus investing. A comprehensive investment strategy used with spectacular results by Buffett, focus investing directs investors to select a concentrated group of businesses by examining their management and financial positions as compared to their stock prices. A strategy that has historically outperformed the market, focus investing is based on the principle that a shareholder's return from owning a stock is ultimately determined by the economics of the underlying business.

Hagstrom explains in easy-to-understand terms exactly what focus investing is, how it works, and how it can be applied by any investor at any level of experience. He demonstrates how Buffett arranges his stocks in a focus portfolio and reveals why this is as responsible for his incredible returns as the individual stocks he picks. Ultimately, Hagstrom shows how to use this technique to build and manage a portfolio to achieve the best possible results.

Spis treści

Focus Investing.

The High Priests of Modern Finance.

The Superinvestors of Buffettville.

A Better Way to Measure Performance.

The Warren Buffett Way Tool Belt.

The Mathematics of Investing.

The Psychology of Investing.

The Market as a Complex Adaptive System.

Where Are the .400 Hitters?

Appendices.

Notes.

Acknowledgments.

Index.

O autorze

ROBERT G. HAGSTROM is the author of the New York Times bestseller The Warren Buffett Way and The NASCAR Way: The Business That Drives the Sport. Hagstrom is Senior Vice President and Director of Legg Mason Focus Trust Mutual Fund.

Blurb

Praise for The Warren Buffett Portfolio THE EXTRAORDINARY FOLLOW–UP TO "THE MOST IMPORTANT STOCK BOOK OF THE 1990s." KENNETH L. FISHER, Forbes "This is an outstanding investment book and an important one. In The Warren Buffett Way , Robert Hagstrom explained how Warren Buffett invests. In The Warren Buffett Portfolio, he explains how you can become a better investor. Studied carefully and taken to heart, the principles and methods covered in this book will profit the novice and professional alike. A rare achievement." BILL MILLER , President, Legg Mason Fund Advisor, Inc., and Morningstar′s 1998 Domestic Equity Fund Manager of the Year "Thank you, Robert Hagstrom, for the finely honed thinking, the clear writing and the simple strategies that help all of us be more successful at one of life′s most intriguing and intimidating tasks: investing our money." JANET LOWE , Author, Warren Buffett Speaks and The Rediscovered Benjamin Graham "Does your favorite mutual fund own too many stocks for its own good? Do fewer stocks produce happier returns? Hagstrom makes a persuasive and provocative case." JOHN ROTHCHILD, Author, The Bear Book: Survive and Profit in Ferocious Markets "One of the top 10 investing books of the year 1999." HARRY EDWARDS , Business Editor, amazon.com