Book : The Snowball – Warren Buffett and the business of life

"The Snowball – Warren Buffett and the business of life" is Warren Buffett’s authorised biography to be published on 29 Sept 2008.
website on the book

Thre is an article which features Warren Buffett "10 ways to get rich":

It’s a good read with condensed wisdoms.
I try to "re-phrase" the main points using my own words (after reading the "10 ways to get rich").

1. Reinvest your profits

Power of compounding;

2. Be willing to be different
Beware of "herd mentality";
Own yardstick to judge yourself, not the world’s;
Live your own life, not others

3. Never suck your thumb
Gather info/database before hand to enable fast decision making;
Set a deadline for decision;
Don’t procrastinate on decision

4. Spell out the deal before you start
Get the specifics/details before start

5. Watch small expenses
Beware of any cost that can eat into profit;

6. Limit what you borrow
Be debt free, then work on savings, then only invest

7. Be persistent
Importance of cost reduction;
Importance of negotiation;
Persistance even when in "underdog" situation;

8. Know when to quit
Beware of "mental accounting";
Know when to quit;
Learn from mistakes;
Never repeat mistakes;

9. Assess the risks
Risk analysis by using scenario analysis: best case scenario, worst case scenario;
Decision making analysis : "and then what ?" (much like decision tree)

10. Know what success really means
Success is not measured by dollars nor monuments;
Success is charity, be loved


  1. Hihi!
    Any comment on this book??
    hehe...i thinking to buy this price around rm90++..
    Any idea does it worth or not ah..?

    Thank you...

  2. Hi miao miao,

    I haven't bought the book yet.
    Don't feel the rush to get the book. I'm more interested in his method rather than his life.
    Maybe will wait until discount or paperback version..
    haha, typical value investor :-)

    There are other resources on Warren Buffett available on my previous posts. I recommend his "letters to shareholders" (available in Berkshire Hathaway's website).

  3. HIhi WY,

    Nice to meet you..
    Hehe...i found that Popular offer 20% discount on the price for member..

    Yalor..I am quite interested to know more about the way he thinks...his philosophy, and if possible the struggling that every investor would have met...if that book does offer the depth of such..then it really worth buying...

    haha...thanks..tat's a nice one..i read year by year so far..still need to consolidate the whole picture of Berkshire Hathaway development and his approach..

  4. Hi miao miao,

    I'm trying to read year-by-year too but so far slow progress..
    I'll start by reading 2000+ years first. He tends to elaborate more in more recent years' report.

    Hope that you feel free to share your insights/comments on my blog.
    Hopefully we can learn together.

    do I know you in person ?
    I couldn't figure out who you are. Maybe you can drop me a mail (personal mail).

    I may not be able to reply promptly for few days.

    Thx for your insights..

  5. Hihi WY!

    So glad to know you...actually we met in Cari forum there..
    i'm guomiao.
    I started that from 1978...But i found he tends to elaborate more on Value investing in the earlier year than now...
    Now he tends to explain more on acquisition and business that he bought..

    May i have ur email add?
    Thanks er..

  6. I have sent a message to your CARI a/c.

    "An owner's manual" from Berkshire Hathaway is good too. Available in website too.

    I wish to learn from him how he looks at business..
    business-like investing..

  7. Wow! That’s quite a read. we really appreciate this post, because it’s really an impressive work. You provide useful information.


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