For the first time ever, discover how Warren Buffett has made
unheard-of profits in the world of arbitrage and special investments,
and how to be a player in these ventures.
Investors around the world recently learned that from 1980 through 2003
Warren Buffett's arbitrage operations produced an astronomical average
annualized rate of return of 81.28%. Even more amazing, this incredible
rate of return was produced with very low rates of risk.
Long considered one of the most powerful and profitable of Buffett's
investment operations, but the least understood, these special types of
investments have been the edge that made Warren Buffett so phenomenally
successful. Warren Buffett and the Art of Stock Arbitrage is the first
book to examine Buffett's special brand of arbitrage investing.
Buffettologists Mary Buffett and David Clark explore the previously
secret domain of Warren Buffett's stock arbitrage investments. They
explain how Buffett finds deals, evaluates them, picks the winners from
the losers, and when he is willing to use leverage to help boost his
performance in these investments to make amazing profits. Basic
mathematical equations are included to help readers determine the
projected rate of return, evaluate risk, and determine the probability
of the deal being a success.
Buffett and Clark provide detailed explanations and examples of Warren
Buffett's methods for arbitrage, and for investing in tender offers,
liquidations, spin-offs, and reorganizations. They take readers step by
step from the initial public announcement to tendering shares,
explaining how Buffett evaluates risk and maximizes his profit at every
step.
Warren Buffett and the Art of Stock Arbitrage is a valuable companion
to the other books in Buffett and Clark's successful
series--Buffettology, The Buffettology Workbook, The New Buffettology,
The Tao of Warren Buffett, Warren Buffett and the Interpretation of
Financial Statements, and Warren Buffett's Management Secrets.
