WARREN BUFFETT'S GROUND RULES

At the age of 26, Warren Buffett founded Buffett Partnership Limited, which lasted from 1956 to 1970. During this time he wrote 33 letters to his small but growing group of partners. These letters chronicle his thoughts, approaches and reflections in the period immediately prior to his Berkshire Hathaway tenure - one that saw an unprecedented record of investing success.

This early period was astonishing: in 1968 he beat the Dow by more than 50%. Because Buffett wanted to ensure that his partners understood his process, he wrote letters. In them, he sets out what he termed "ground rules" for investing that remain startlingly relevant today for every type of investor - from beginners to sophisticated pros. Warren Buffett's Ground Rules brings together, for the first time, and with Buffett's blessing, the key investment principles and teachings the letters reveal. Here you will find the basis for Buffett's contrarian diversification strategy, his almost religious celebration of compounding interest and his tactics for bettering market results by at least 10% annually.

Quoting extensively and directly from Buffett, equity research expert Jeremy Miller introduces us to the timeless advice the letters contain, demonstrating a set of highly effective investment strategies that continue to resonate today.

About the author
Jeremy Miller is an investment analyst for a leading New York-based mutual fund company. He has more than fifteen years of experience in the financial industry, having served in various capacities in equity sales and research at several of the world's largest investment banks. This is his first book. Warren Buffett is a business magnate and the most successful investor of the twentieth century. He is the CEO and largest shareholder of the multinational conglomerate Berkshire Hathaway and often ranked among the wealthiest people in the world.
Reviews
Mr Miller has done a superb job of researching and dissecting the operation of Buffett Partnership Ltd., and of explaining how Berkshire's culture has evolved from its BPL origin. If you are fascinated by investment theory and practice, you will enjoy this book.

- Warren Buffett
Miller begins every chapter with an articulate and insightful synthesis, which helps the reader understand Buffett's key ground rules on each theme.

- Robert Pozen, Senior Lecturer at MIT Sloan School of Management
An extraordinarily useful book for anyone who is interested in investing, or in Warren Buffett.[...] an indispensable book.

- Guy Spier, author of 'The Education of a Value Investor'
A wonderful collection of Buffett's early partnership letters and musings organised in a thoughtful, concise and entertaining format ... offers valuable insight into the world of value investing.

- Christopher Blake, managing director of Lazard Asset Management