101 Reasons to Own the World's Greatest Investment: Warren Buffett's Berkshire Hathaway

ISBN-13: 9780471430469 / Angielski / Miękka / 2003 / 272 str.

Robert P. Miles

Opis

Discover why the model-investment-firm-turned-household-word is the perfect investment--for virtually anyone
Robert Miles is a successful entrepreneur, business owner, and investor who believes that everyone can be a smarter investor regardless of background, education, and income. In fact Miles says that one investment is ideal for virtually everyone to own--Berkshire-Hathaway. Miles has attended the annual shareholders meeting for years, has met Warren Buffett, and is considered a company "insider" and Berkshire-Hathaway expert. In 101 Reasons to Own the World's Greatest Investment, Miles offers his insights into what makes Berkshire-Hathaway so profitable and why shareholders get such value for owning the stock. Among his explanations: Berkshire-Hathaway is run sensibly and frugally by Buffett--there are no lavish corporate head-quarters or extravagant spending by company executives. The company invests in companies it determines will produce steady profits for the shareholders rather than those companies with a history of erratic performance. This accessible, well-researched look at the leading company's investment strategy has received an "unofficial" endorsement by Buffett himself.
Robert P. Miles (Tampa, FL) is an entrepreneur and owns a small business. He is a graduate of the University of Michigan Business School, has been an active shareholder of Berkshire-Hathaway for a number of years, and is frequently asked to speak to other investor groups about Buffett.

Spis treści

Foreword.

Introduction.

Historical Outperformance.

No Losses for Shareholders.

Low Cost, Almost No Cost.

Proven Public Record.

Owner s Manual.

Unique Annual Meeting.

No Dividend.

No Taxes.

Chairman s Age.

Acts Like a Mutual Fund.

Unique Charity Program.

Chairman s Letter and Plain Annual Report.

Bridge over Troubled Water or Buffett s Theory of Relativity.

Buffett Discount.

Loyal Shareholders.

Owner Managed.

Stable Portfolio.

No Tech Exposure.

Asset Protection.

Reduces Investing Mistakes.

Easy Gift/Estate Transfer.

Small Shareholder Group.

Business Ownership and Time.

International Exposure.

No Stock Splits.

Shareholder Discounts.

Ownership Defined.

Merger/Acquisition Incentives.

Investing with a Higher Purpose.

Book Value per Share.

Equal Opportunity Investment.

Joining a Winner.

Billionaire Maker.

Preserves Family Wealth.

Salary and Ownership Disclosure.

Highest Price.

Lowers Shareholder Expectations but Delivers Higher Returns.

Omaha Based.

Berkshire s Relative Results as Compared to the NASDAQ.

Low Institutional Ownership.

Trumpets Investment Errors.

Not Included in S&P 500 Index.

No Tax Return.

Welcomes Small Shareholder.

Buy 1 Stock and Get 100 Companies.

Wealth Measurement Index Member.

Indefensible Becomes Defensible.

Largest Acquisition Its Best.

Free Use of Money.

Truth in Advertising.

A New Retirement Perspective.

Unknown, Misunderstood Corporation.

Chairman s Minimalist Life–style.

Rich Balance Sheet.

Lazy Investor Approach.

Berkshire Post Buffett.

Never Broker Recommended.

Life Lessons.

Add Zero Every Eight and One–half Years.

Bear Market Tank.

Creative Trust Management.

Margin for Life–style.

Acquirer of Choice.

Despised.

Deferred Taxes.

No Earnings Dilution.

Chairman s Character.

Six Sigma.

Decade Trader.

Small Headquarters.

Concentration.

Eliminates Choices.

Undervalued Stock.

Chairman s Mortality.

Competence.

Quick Inoculation.

Attracts Like Minds.

Classic.

It s More Than What You Read.

Misunderstood.

Value Investing.

Very Rare Talent.

Inefficient Market Theory.

Turn Off the Noise.

Capital Allocation.

Intelligent Investing.

Peaceful Night s Sleep.

Independent Thought.

World s Largest Foundation.

Active Mind.

Always Good Surprises.

For Owners Only.

Creative Tax–free Dividends.

Perpetual Gift.

No Gimmicks.

Value Added.

Financial Education (Part 1).

Financial Education (Part 2).

Investment Model (Part 1).

Investment Model (Part 2).

For All Seasons.

State of Mind.

Simplicity.

Conclusion.

Appendix I: Twenty–five Questions Every Wise Investor Should Ask.

Appendix II: Twenty Investment Punches.

Appendix III: Eight Ways We Become Investment Victims.

Appendix IV: Investment Beliefs and Philosophies.

Appendix V: Recommmended Free Web Sites.

Appendix VI: Recommended Berkshire Hathaway–Related Books and Web Sites.

Appendix VII: Copyright Notice.

Appendix VIII: Berkshire Hathaway′s Owner′s Manual.

Appendix IX:  Business Activities.

Appendix X: Common Stock.

Appendix XI: Shareholder–designated Contributions.

Appendix XII: Contributions Program Commonly Asked Questions.

Appendix XIII: Acquisition Criteria.

Appendix XIV: Other Information about Berkshire.

Appendix XV: Answers To #45, Buy 1 Stock Get 100 Companies.

Appendix XVI: Berkshire (Class A) Year–end Closing Prices.

Appendix XVII: A Very Personal Experience.

About the Author.

Index.

O autorze

ROBERT P. MILES (www.robertpmiles.com) is a Tampa–based author, entrepreneur, freelance journalist, and professional speaker. He has been a shareholder of Berkshire Hathaway for a number of years. Miles is also the author of The Warren Buffett CEO: Secrets from the Berkshire Hathaway Managers (Wiley), which Warren Buffett highlighted in his annual letter to shareholders. Miles s keynote address, Reflections of a Billionaire CEO: How to See You in the Image, has been heard in over twenty countries. He is also the author and presenter of Nightingale–Conant s audio series entitled How to Build Wealth Like Warren Buffett: Principles and Practical Methods Used by the World s Greatest Investor.

Blurb

PRAISE FOR 101 Reasons to Own The World’s Greatest Investment

"Robert Miles clearly understands the company well."
Warren Buffett

"Every Berkshire follower should be interested in this book."
Alice Schroeder, insurance analyst
Morgan Stanley

". . . a great learning tool for investors . . .will inspire you to learn about great companies and become engaged in your own financial future."
From the Foreword by David and Tom Gardner
Co–Founders of The Motley Fool, Fool.com