About the Author
Mary Buffett was the wife of Peter Buffet for twelve years, son of the investment mogul: Warren Buffet (Buffet & Clark, 1997). During her marriage, she learned the skills, philosophy, communication and its execution by the billionaire Warren Buffet which she wrote in her best-selling book- Buffettology: The Previously Unexplained Techniques That Have Made Warren Buffett the Worlds Most Famous Investor. This book was the best seller as acclaimed by the New York Times, Business Week, and USA Today. This is one of the major works that she has done on what she understood about Warren buffet and has been translated to about 16 languages including Chinese and Russian. With around twelve publishers distributing âBuffetologyâ worldwide the book has sold multi-million copies. Other books that she has done on Buffet are ; Warren Buffetâs Management Secrets, The Buffetology workbook among others.
Ms. Buffet is a famous public speaker on strategies of investing financially. She has been consulted by many financial organizations like Barclays Bank, AIC Canada, Prudential securities among other big firms. She has also done shows on international television like Fox Business News, CNN, CNBC , Bloomberg and Squawk Box where she talks on financial issues. She has helped in revision of many business plans as a consultant for some companies with Rhino Records Division a branch of Time Warner is on the list (Buffet & Clark, 1997). She has also been a consultant to many companies on the Fortune list of the best 500 and also with advertising agencies like GSD&M.
She has been involved in production of commercial music business and has worked with top producing and recording companies like Columbia and Narad records. She contributed greatly to the filmâ Dance with Wolvesâ a movie that won many Oscar Awards.
She has also been involved in directing motion pictures like âPanic Room â and âFight Clubâ. She has worked with professional directors like Dominic Senna and Michael Bay. In addition to that, she also worked with the Pop Icon âMichael Jackson, Madonna among others and in the process rewarded by the MTV.
In her interview with Forbes Magazine, she described the investment devices that Warren Buffet uses âPatienceâ. âHe can wait for long till he finds an investment selling at a good price or bargain price (Buffet & Clark, 1997).
Warren Buffet was born to Republican Buffet and Leila Buffet in Omaha, Nebraska on the 30th day of August 1930. From an early age, he did Byzantine mathematical calculations easily in his head without any assistance (Buffet & Clark, 1997). By the tender age of 14, Buffet began investing in barbershop machines and in the stock market. To date, he is the greatest investment mogul in the 20th and 21st century because of the skills that have been reviewed in the book Bufffetology.
The key elements that are in this book are based on what one can do if they want to invest that is the skills needed. This book shows the skills that Buffet has showcased and executed over time which have made him the third richest man on earth behind Helu Slim of Mexico and Bill Gates as of 2007.
Buffetâs Strategies
Buffett is a very patient man when it comes to investing. He can wait for a long time until the stocks are being sold at a bargain price. At this level, he sinks in his capital in a way that will be able to give him returns. Buffet researches on stocks that will grow over a certain period. This shows that he is targeting profitability but still he relies on his main virtue: patience is something that most investors in Wall Street and other stock markets do not have( Buffet & Clark, 1997).
Buffet uses the Byzantine mathematical calculations unaided in his head and at a very fast speed (Buffet & Clark, 1997). Through these calculations, he can be able to calculate the value of investment and the company, the projected growth and profitability. The stock market requires one to be very fast in thinking and this dictates that one should be sharp and fast. If one is not able to do calculations of the head, then they should have a calculator at hand to help in making fast calculations. Also, one should be fully equipped with the formulas used in valuing a company and in selection of stocks.
Buffet has specific companies that he is interested in. This shows that Buffet is a man who has a target and objectives in his investment business empire (Buffet & Clark, 1997). A reader can be able to learn about his interests and the way he makes his choices which can help him to make his own choice in investing.
Another must-have on the investment business is a profitable business portfolio on the company that he wants to invest in. This can help one to know the details of the company that they want to invest in.
Conclusion
Many households in America today are getting into the business of investing in shares in the stock market (Buffet & Clark, 1997). However, what everyone should know is that to invest is one thing but to get profit is another. From the book, anyone who invests in the stock market should be sharp, patient and have an objective of targeting profit. The book is a must-read for anyone who wants to be investment savvy.
References
Buffet, M. & Clark, D.(1997). Buffettology: The Previously Unexplained Techniques That Have Made Warren Buffett the World’s Most Famous Investor. NY: New York, Scribner.