Since the 1950s, Warren Buffett and his partners have backed some of the twentieth century's most profitable, trendsetting companies. But how did they know they were making the right investments? What did Buffet and his partners look for in an up-and-coming company, and how can others replicate their approach?
A gift to Buffett followers who have long sought a pattern to the investor's success, Inside the Investments of Warren Buffett presents the most detailed analysis to date of Buffet's long-term investment portfolio. Yefei Lu, an experienced investor, starts with Buffett's interest in the Sanborn Map Company in 1958 and tracks nineteen more of his major investments in companies like See's Candies, the Washington Post, GEICO, Coca-Cola, US Air, Wells Fargo, and IBM. Accessing partnership letters, company documents, annual reports, third-party references, and other original sources, Lu pinpoints what is unique about Buffett's timing, instinct, use of outside knowledge, and postinvestment actions, and he identifies what could work well for all investors in companies big and small, domestic and global. His substantial chronology accounts for broader world events and fluctuations in the U.S. stock market, suggesting Buffett's most important trait may be the breadth of his expertise.
- Table of Contents
- Acknowledgments
- Introduction
- Part I: The Partnership Years (1957-1968)
- 1. 1958: Sanborn Map Company
- 2. 1961: Dempster Mill Manufacturing Company
- 3. 1964: Texas National Petroleum Company
- 4. 1964: American Express
- 5. 1965: Berkshire Hathaway
- Part II: The Middle Years (1968-1990)
- 6. 1967: National Indemnity
- 7. 1972: See’s Candies
- 8. 1973: The Washington Post
- 9. 1976: GEICO
- 10. 1977: The Buffalo Evening News
- 11. 1983: Nebraska Furniture Mart
- 12. 1985: Capital Cities/ABC
- 13. 1987: Salomon Inc.—Preferred Stock Investments
- 14. 1988: Coca-Cola
- Part III: The Late Years (1990-2011)
- 15. 1989: US Air Group
- 16. 1990: Wells Fargo
- 17. 1998: General Re
- 18. 1999: MidAmerican Energy Holdings Company
- 19. 2007-2009: Burlington Northern
- 20. 2011: IBM
- Part IV: Lessons Learned
- 21. Evolution of Buffett’s Investment Strategy
- 22. What We Can Learn from Buffett
- Appendix A
- Appendix B
- Notes
- Selected Bibliography
- Index
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