The Snowball: Warren Buffett and the Business of Life

Excellent read, close to 600 pages and well written, and he’s still alive, bless him

Understanding Buffett has become a modern Holy Grail, the pot of gold at the end of a seventy eight year rainbow. How does he do it? How can ordinary people even come close? Having met him first in 2001, Alice Schroeder was first allowed in to the inner sanctum, then granted unfettered access to the man himself "You'll do a better job than I would, Alice. I'm glad you're writing this book, not me". He adds "Whenever my version is different from somebody else's, use the less flattering version". Five years, 960 pages, 62 chapters, 90 pages of notes, 32 pages of photos, 23 pages of index later, Schroeder has brought us The Snowball, Warren Buffett and the Business of Life. Berkshire Hathaway put on over $50 billion of market capitalisation whilst she was writing it. That's over $50 million for each page. No wonder Buffett was happy to entrust the book to Schroeder. Writing books doesn't usually add value that fast. Schroeder demonstrates that, after all this detailed research, much from the man himself and other primary sources, there is no silver bullet. This may disappoint critiques of other works on Buffett who seemed to be seeking one and were rather hoping that the official biography would, at last, provide it. Rather, what emerges is a combination of old fashioned focus, discipline, common sense, the ability to get with people, to push them just beyond their comfort zone but keep them onside, to drive hard bargains but still remain popular, to calculate business risks and probabilities with consummate ease, accuracy and success, and to continue to seek great businesses at affordable prices. A complex approach from a deeply complex, old-fashioned yet fully at ease in the moment, extremely well-connected and quite remarkable man who has defied the odds and, in the process, conclusively disproved and outlived the Efficient Markets Hypothesis. Having read The Snowball, the Shareholder Letters and a number of other books on Buffett, the author of this review is still left wondering how he really managed it. There is plenty of inspiration in The Snowball for would-be investors. Many mistakes are also profiled - and the lessons to be learned from them. The book was worth the wait, but don't expect it to reveal all the answers. Otherwise we would all be billionaires.

I think this is the book to end all books on Warren Buffett. Seriously, I don't think this author left a single thing out. And I mean everything: on the personal side you'll get his family history back like 4 generations, his relationships with people and why he had them and cultivated them the way he did, his fears and regrets - getting a strong insight into the kind of man he is, decade on decade on decade. On the business side, you'll understand the kind of psychology he is hard wired with (and learned) that has enabled him to get to the point he is today, if you analyse enough you'll understand why he has managed to become so successful and revered, and how through mimicking certain attributes you might catch a snippet of the success he has enjoyed. All very very interesting and useful. To be fair on this Alice Schreoder, I honestly don't think she could written this book in any other way, the author HAD to put in this level of detail to be a cut above the rest, but I'm glad she broke it up in places with anecdotes and family dramas because by god it gets BORING. Endless streams of names and people and companies it just becomes one massive blur. Literally hundreds of people must have been mentioned: where he met them, when, what they did, who they were married to, what their daughters' best friends' aunt was doing in New York when he sat next to them at some obscure function that really contributes nothing to the flow of the book... but it has to be mentioned anyway as it happened. Then they disappear from the book forever. Streams and streams of companies that he invested in, bought, partially acquired, then the companies that those companies invested in in what proportion and when he shifted his interest from this stock to that stock blah blah blah. It never ends! I couldn't tell you anything in particular now about how he operated but, in light of the fact I just waded through like 700 pages, it seemed very impressive! But all in all a good effort, I don't think any other biography on Warren Buffett could ever match this. It is well written and comprehensive, I'd say the author managed to unravel the complex mind and life choices of Warren Buffett in the best way she possibly could and, in spite of some parts being complicated and dragging, it pulls through very as a unique, successful and intimate exploration of the life of Warren Buffett.

The book is 800 pages long of smallish print. I've only really gotten a chapter into this book (other priorities have caused me to have to put the book aside for a bit). Nevertheless, I shall be happy to get back to it when the time comes. 99% of my reading during my life has been non-fiction, and I started this book hoping to pick up pearls of wisdom - mostly about life - but you never know... maybe the odd gem of investment 'knowhow' might also benefit me. As I begun reading, I groaned a bit, thinking this is a bit like the Thomas Hardy book I read when I was 15: describing the setting, the flowers, the fanfare while I was impatiently wanting to get to the 'punch up' - the point of why I chose to read the book in the first place. But then, once I'd settled into it a bit more, I found myself really enjoying the style. Warren could practically choose anyone on the planet to write this book (simply because he modestly and astutely believes someone else could do a better job of it than he would (... is that 'gem no. 1' do I wonder ?). Anyway, I believe the book is actually written by Alice Schroeder {but I have no doubt that Warren's input would have been extensive}. Warren has known Alice for many years and been very impressed by her, (and I've already formed the notion that Warren is not so easily impressed by superficial blusterings, but rather sees under the surface); and has great trust in Alice. Anyway, I won't say too much more; the book is written by a gifted, very keenly observant, lucid and empathetic writer. In fact, it's grown on me to the extent that ... (when I get my knighthood, and Nobel prize for services to mankind) and I want to write my own (auto) biography, I will ask Alice to do it for me. Oh yes; and there's certainly a gem in the last couple of pages of the book (which I'd love to tell you - but with respect to Amazon and the author, I'll just say ... I'm sorry - you'll have to read the book !). Best Wishes, Richard

The Snowball is a in depth biography that offers an unprecedented look into the life and investment philosophy of Warren Buffett, one of the world’s most successful investors. Unlike other books that focus solely on his financial strategies, The Snowball gives a comprehensive look into Buffett’s personal life, relationships, and the principles that shaped his career. It is an essential read for those interested in Warren Buffet and the mindset of a true business icon

it was a long book. And somehow i came away with the impression that although I admire Warren Buffet I also have the feeling he has good values BUT has somehow lost his values by acquiring so much wealth and not spending it it also contributes to the economic crisis we are in. He acquires money not because he wants money particularly but because he has some fundamental need to see the number getting bigger. However, I do not believe he is the best person to decide on how to spend the money he has acquire based on this book and I suspect his children are better equipped to do this also than Bill Gates who has some very set views on shaping the world. Warren Buffet can shape the world more than many governments and his fiscal policy almost borders on the irresponsible. I'm not sure I would like him although he was fascinating and I have a lot of sympathy for his ex wife and children. The book is really neither critical or aclaiming of him particularly but I think it is well written and he gave good access to the author since I was able to form the opinion made above. I'm quitely impressed by the book as I believe (one can never be sure of course) that it gives good insight and doesn't shy away from his faults. Well done Warren for honesty. It is hard to provide a biography that doesn't focus that is so balanced. I came away wishing that we had his ex-wife's version alongside. I don't think it would have different particularly in the stories but she seemed very interesting!

`The Snowball' is an in-depth and comprehensive biography of Warren Buffett and made for fascinating reading throughout. This book focuses on many aspects of his life and virtually no stone is left unturned in recounting the events that have shaped him. This look at his personal relationships, interests, his business/investing philosophies and the various business deals he has been involved with over the years. It also has additional chapters that look at the credit crunch and how Buffett felt and invested during this time of great uncertainty. Whilst this doesn't try to teach you about how to invest like Buffett, a great deal can be gleaned by reading about his life and the way he investing in various businesses and stocks. This has two sections with photos of Buffett and those mentioned in the text. It also has a detailed notes section that add to the overall depth of knowledge in the book if you take a little time to read them. This is very well written and accessible and whilst it will be of more interest to those fascinated with business and investing, it will also interest those who wish to learn about this astute, independent and unique businessman. All in all this was a thoroughly enjoyable read and although very long (at over 700 pages) it will pay back your investment of time richly. Feel free to check out my blog which can be found on my profile page.

It is a long read, the author is clearly intelligent, some clever words used. it jumps sections of Warrens life, i like his childhood the best, overall it seems warren makes money for the thrill and challenge of it to see if he is clever enough to beat the market. he doesnt invest so he can spend it. its not a book about how to invest it is more a cse of warren came froma middle classs background with a stockbroker father, in which he had no debt, lived at home or college for years, saved and saved and started as a broker, so made his money via a cut as all fund managers do. but he wanted to pick stocks and businesses, not just place them into folks portfolios for them.he had heartache in his life, deaths , seperation and his kids never really seen him as a suportive dad, nor did his wife see him as a manly husband, they thought in todays analysis, he had OCD when it coems to saving, scrimping and making money.nothing else mattered, he neglected his family and gave them money to make up for it imo.

Ho letto il libro in pochi giorni, l'ho trovato molto interessante e scorrevole nonostante non sia proprio corto. Ottimo libro se si vuole iniziare ad investire nel mercato azionario o anche per chi è già piu' esperto e necessita di un supporto per rivedere o diversificare il proprio portfolio.

原書に挑戦したところ、本文だけで700頁のボリュームに圧倒され、読み終えるのに数ヶ月を要したが、世界一の投資家であるWarren Buffettが生まれてから2008年までの人生を詳細に描き出している本書には、それだけの時間を費やす価値があった。 まず驚いたのが、Buffettのプライベートがここまでと思うほどさらけ出されていることだ。幼い頃に母親から徹底的に罵倒された彼は自分に自信が持てない人格になってしまう。青年になっても人前で話すことができず、それを治すために学校まで通ったというのは現在の彼からは想像もつかない。そんな彼を救ったのが妻となるSusieだ。ここに描かれる彼とのSusieの関係はとても興味深い内容である。Buffettは冷徹な投資家のように見られがちであるが、それと同時に一人の弱い人間であることがよくわかる。 そして何といってもBuffettがいかに世界一の投資家になったかという過程が実に面白い。彼の現在の巨富が幼い頃から始めた新聞配達で貯めた資金が元になっており、それがタイトルのSnowball（雪だるま）のように転がるにつれて加速的に量が増えていく様子は驚異的だ。ただ自分は今までBuffettが株式に長期投資して、それを売り買いすることにより利益を上げてきたと思い込んできたが、それだけではなく、実際はすぐれた経営者がいる会社を買収して、それをグループに取り込み、そこから生まれるキャッシュを次の投資に向けるという手法を取っていたことは初めて知った。 また、彼がプライベートでもビジネスでも正直さ・公正さを重んじ、自分が約束したことをきちんと果たす人間であることもよくわかった。

It is a great book not only for business, but for life. Though I think people that don’t know his achievements won’t be patient enough to finish the 700+ pages

Warren Buffet is a household name... even in Australia. This is an interesting and very candid biography of this simple yet complicated man. I enjoyed the personal part just as much as the business parts however his obsession with money from a young age and the fact that he seems to spend so little makes him quite complicated. Alice Shroeder's writing style is excellent and although it is a long book the writing feels both succinct and animated. In a nutshell, Warren proves to be a shrewd businessman, a patient opportunist, yet seems a little disconnected with his own family. And it is clear only later in life when he realised he wanted to give it away do we see the philanthropic side. I also enjoyed the sense of transformation from his midwestern roots to a captain of Wall Street and the many great one liners full of wisdom.

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