The tao of Warren Buffet

This is one book that I finished reading recently. I got interested with Warren Buffet ideas after reading few articles from newspaper. When I saw this book in the library, I decided to give it a shot. This book is not a biography of Warren, rather a collection of his quotes. Some of the quotes are really interesting and I like the book. Here are couple of quotes that I like:

"Our method is very simple. We just try to buy
business with good-to-superb underlying economics
run by honest and able people and buy them at
sensible prices. That's all I'm trying to do."

This one is about hiring people:

"In looking for someone to hire, you look for three
qualities:integrity, intelligence, and energy. But the
most important is integrity, because if they don't
have that, the other two qualities, intelligence and
energy, are going to kill you."

Warrens' philosophy of buying business with excellent underlying economics at good price is superb. He has built an excellent portfolio with his business model. There are a lot of lessons that one can learn from his investment concepts. The concept of buying business is something new for a normal trader, it takes time to get it. Once a person gets this, he will start understanding Warrens' concepts.

I have to figure out one thing though, how to hold on to a stock when the business you bought goes down?

(Note: The quotes above are from the book, if it is against any copyright, let me know and I will remove it)