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"Buffett's Letters to Shareholders (Original Book 4th Edition)" Author: [USA] Warren Buffett/Lawrence A. Cunningham Publisher: Machinery Industry Press 2018 Annual Reprint Good Book
"Buffett's Letters to Shareholders (Original Book 4th Edition)" Author: [USA] Warren Buffett/Lawrence A. Cunningham Publisher: Machinery Industry Press 2018 Annual Reprint Good Book
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Description
Subtitle: A Tutorial for Investors and Corporate Executives Original title: The Essays of Warren Buffett
Translator: Yang Tiannan Publication Year: 2018-3
Introduction · · · · · ·
As we all know, Buffett personally writes a letter to Berkshire shareholders every year, and has been doing so for 52 years. Each letter to shareholders is tens of thousands of words long, reviewing the company's performance, investment strategy, and expressing opinions on many hot topics.
In 1996, Buffett authorized Professor Lawrence Cunningham to compile his letters and published the super-best-selling book "Buffett's Letters to Shareholders". The entire text of the book retains Buffett's first-person narrative, and divides his investment ideas and management wisdom into topics such as corporate governance, finance and investment, investment alternatives, common stocks, mergers and acquisitions, valuation and accounting, and taxation. Since then, Professor Cunningham has become Buffett's personal editor, and has been authorized by Buffett to conduct in-depth research and interviews at Berkshire, and to write a sister book "Berkshire Beyond Buffett", which specifically discusses Berkshire's business management.
Compared with the previous three editions, the fourth edition of "Warren Buffett's Letters to Shareholders: A Tutorial for Investors and Corporate Executives" retains the original structure and philosophy, and adds the content of Buffett's latest annual report. These new contents are compiled into the corresponding chapters of the book, and they are organically integrated, without affecting the overall impression of the reader on the sound enterprise and investment philosophy during the reading process. In order to help readers distinguish which parts of the book are new, the "Notes" section at the end of the book indicates which years these contents are selected from the letters to shareholders.
Over the past 20 years, the four editions of this book have received countless praises, but the most valuable one is Buffett's own evaluation: "Cunningham has done a great job in organizing and presenting our philosophy. This book is better than any biography about me. If I were to choose a book to read, it would definitely be this one."
About the Author
Warren E. Buffett
(Warren E. Buffett)
Berkshire Hathaway CEO, the world's most famous investment guru, known as the "God of Stocks". In the "Forbes 2016 Global Rich List", Buffett ranked second; he is also the world's most famous philanthropist, donating most of his wealth to charity, and is called "the most respectable man besides his father" by Americans.
Berkshire Hathaway is a world-renowned insurance and diversified investment group, with a market value of more than $480 billion in December 2017. Every year, Buffett publishes an annual letter to Berkshire shareholders, but the audience of this letter far exceeds the company's shareholder group. Investors and entrepreneurs around the world hope to learn about the investment ideas and management wisdom of this great investor from the letter to shareholders.
Lawrence A. Cunningham
(Lawrence A. Cunningham)
Buffett's "personal" editor. Since 1996, he has assisted Buffett in compiling and publishing the super-best-selling book "Buffett's Letters to Shareholders". Buffett's annual letters to Berkshire shareholders are written in the first person and are written by Buffett himself; Cunningham is responsible for the theme setting and content arrangement of the book. His work is highly praised by Buffett. So far, the two have collaborated on the 4th edition of "Buffett's Letters to Shareholders".
Cunningham is also a professor at George Washington University Law School, where he holds the Henry St. George Tucker III Chair and serves as director of the Center for the Study of Law, Economics and Finance at George Washington University in New York.
Cunningham also wrote books such as "Berkshire Beyond Buffett" and "Learn to Think from Graham, Learn to Invest from Buffett".
His research has been published in research journals of top universities such as Columbia University, Cornell University, and Harvard University. He also frequently publishes his professional opinions in The Wall Street Journal, The Financial Times, and The New York Times.
◆Translator Profile◆
Yang Tiannan is the CEO of Beijing Jinshi Zhiyuan Investment Management Co., Ltd., a financial investor, and a financial columnist. He holds an MBA in Finance from the University of San Diego.
The first Chinese to go to Omaha and shake hands with Buffett. Born into a financial family, he has 25 years of experience in financial market investment and is good at asset planning and investment management, covering A-shares, Hong Kong stocks, US stocks and other capital markets. As of January 2017, all investors in the funds under the Jinshi Fund he manages have made profits.
He has been engaged in the research, practice and dissemination of financial health investment concepts for many years. He has been an interview guest on CCTV2 and taught MBA investment courses at the School of Management and Economics of Beijing Institute of Technology.
He is the author of Planning a Wealthy Life and 20 Years of an Investor (which won the first place in the selection of the most influential financial books and periodicals in Asia Finance). His translations include The Way of Buffett, Buffett's Letter to Shareholders, and The Davis Dynasty. Among them, The Way of Buffett won the "Chinese Financial Book Award" and was therefore awarded the honor of "Excellent Translator".
Mr. Yang has published hundreds of financial articles in various media. Since April 2007, he has been writing investment columns in the "China's No. 1 Investment and Financial Management Magazine" "Qian Jing" and the "China Financier" magazine under the central bank, becoming the longest-running financial investment column in China. In the 126 months (ten and a half years) to October 2017, the investment portfolio recorded in his column grew from 1 million yuan to 10.22 million yuan, achieving a "tenfold return in ten and a half years", while the Shanghai Composite Index fell 3.91% during the same period.
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