With an insider's view of the mind of the master, Mary Buffett and
David Clark have written a simple, easy-to-follow guide for reading
financial statements from Warren Buffett's successful perspective.
Buffett and Clark clearly outline Warren Buffett's strategies in a way
that will appeal to newcomers and seasoned Buffettologists alike.
Inspired by the seminal work of Buffett's mentor, Benjamin Graham (The
Interpretation of Financial Statements, 1937), this book presents
Buffett's interpretation of financial statements with anecdotes and
quotes from the master investor himself.
Potential investors will discover:
-Buffett's time-tested dos and don'ts for interpreting an income
statement and balance sheet
-Why high research and development costs can kill a great business
-How much debt Buffett thinks a company can carry before it becomes too
dangerous to touch
-The financial ratios and calculations that Buffett uses to identify the
company with a durable competitive advantage--which he believes makes
for the winning long-term investment
-How Buffett uses financial statements to value a company
-What kinds of companies Warren stays away from no matter how cheap
their selling price
Once readers complete and master Buffett's simple financial calculations
and methods for interpreting a company's financial statement, they'll be
well on their way to identifying which companies are going to be
tomorrow's winners--and which will be the losers they should avoid at
all costs.
Destined to become a classic in the world of investment books, Warren
Buffett and the Interpretation of Financial Statements is the perfect
companion volume to The New Buffettology and The Tao of Warren
Buffett.
