Warren Buffett on Business: Principles from the Sage of Omaha

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John Wiley & Sons, Dec 17, 2009 - Business & Economics - 272 pages
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The proven business principles of Warren Buffett

Warren Buffett is one of the most admired and prolific investors and managers in corporate America. Warren Buffett on Business is a timeless guide to strategies that can help you run a successful business. This book is a one-of-a-kind collection of Buffett's letters to the shareholders of Berkshire Hathaway written over the past few decades, and in a clear, simple style distills the basic principles of sound business practices.

Through Buffett's own remarkable words, this practical management handbook shares valuable insights on communicating with, and treating employees and shareholders fairly; responsible corporate governance; ethical behavior; patience and perseverance; admitting mistakes; and having a passion for work.

  • Contains priceless pearls of business and management wisdom, woven into a delightful narrative
  • Designed in an accessible manner and organized by business and management topics with strong lessons from Buffett
  • Provides direct, hands-on information on major topics concerning managers, entrepreneurs, business students, and anyone interested in business

Informative and inspiring, this unique book puts Warren Buffett's business beliefs in perspective.


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Selected pages


Give Warren a Call
Some Thoughts on Selling Your Businessa
Accountability and Stewardship
The Audit Committee
How Do You Know When Youre Dealing with an Honest Person?
Full DisclosureBoth the Goodandthe Bad
A Business Story Like No Other
Excerpt from the Warren Buffett Article The Superinvestors of GrahamAndDoddsville
Cynthia Milligan Interview
Speech before University of Florida MBA StudentsSeptember 4 2006
OwnerRelated Business Principles
Two Added Principles
A Scope
C Ethical Standards
D Waivers

Full Disclosure
A Plan of Action
The Salomon Interlude
Lessons Learned According to Charlie Munger
LongTerm Economic Goals
Measuring Managerial Economic Performance
Businessesthe Great the Good and the Gruesome
Cost of Capital
Capital Allocation
Dividend Policy
Franchises Businesses and Moats
Acquisition Policies
Planning and Administrative Practices
Hiring Policies
Debt and Costs
Stock Ownership and Stock Activity
Mistakes of the First TwentyFive Years A Condensed Version
Mistake Du Jour
The Only Investment Advice You Will Ever Need
Aesops Investment Axiom
How We Think About Market Fluctuations
F Compliance Procedures
1 Director Qualifications
2 Board Size and Committees
4 Director Responsibilities
5 Director Access to Management and Advisors
8 Director Compensation
Chapter 2 Corporate Culture
Chapter 3 Corporate Governance
Chapter 4 Berkshire Managers
Chapter 6 Acquisition of Nebraska Furniture Mart
Chapter 7 Acquisition of GEICO
Chapter 9 The Assessment and Management of Risk
Chapter 10 Executive Compensation
Chapter 12 How to Manage a Crisis
Chapter 13 Management Principles and Practices
Chapter 14 Executive Behavior
Chapter 15 Mistakes Ive Made
Chapter 16 Personal Investing
Chapter 17 Buffett the Teacher
Chapter 18 Humor and Stories

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About the author (2009)

Richard J. Connors is a Registered Investment Advisor and owner of Connors Investment Management Company in St. Louis, Missouri. Beginning in 2006, he has presented a class on Warren Buffett at the Washington University in St. Louis Lifelong Learning Institute. He is a graduate of the University of Notre Dame Business School and the St. Louis University School of Law.

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