The Snowball Warren Buffett Biography

Warren Buffett Biography - The Snowball by Alice Schroeder

"Life is like a snowball. The important thing is finding wet snow and a really long hill" - Warren Buffett.

Who is the Oracle of Omaha?

The Oracle of Omaha is Warren Buffett aka the Sage of Omaha aka the richest man in the world and the world's most successful investor.

Warren Buffett has been buying stocks in the current economic and stockmarket crisis, the first time in years that he has been buying stocks, his decisions are based on fundamental analysis not technical analysis. He recently bought $5bn of preferred stock in Goldman Sachs and will invest a further $5bn in common shares over the next five years. He has also invested £3 billion in GE and has a 9.4% stake in Wells Fargo, which has just blindsided Citigroup in a bid for Wachovia. It is highly unlikely that Mr Buffett was unaware of the deal.

Warren Buffett fascinates investors throughout the world and as he has never written any memoirs “The Snowball” by Alice Schroeder will undoubtedly be a best-seller. The first print run is 1 million copies, exceptional by any standards. It would be nice to be able to get hold of a copy signed by Warren Buffett himself as a first-edition investment, but as far as I know he hasn’t signed any. Alice Schroeder has signed a few however, so if she passes through your town in her book-signing tour you might like to pick up one or two copies.

Alice Schroeder has benefitted from unprecedented access to Warren Buffett which has allowed her to explore his life and work with him, and those closest to him. The result is a complete biography of the richest man in the world known as 'The Oracle of Omaha'.

Buffett spent over 300 hours answering questions and giving complete access to his family, friends and business associates.

We learn that at the age of 7 he vowed to be a millionaire before the age of 35 (which he was) and at the age of 10 he determined to be the richest man in the world, which he also is.
He is of course famous for his very careful, long-term approach to investing and back in 2002 he was already describing derivatives as ‘toxic’ and potential “time bombs”. His friend and associate Charlie Munger, was rather more forthright when he stated “To say derivative accounting in America is a sewer is an insult to sewage.”

If you are interested in online stock trading and want to understand Warren Buffett "The Snowball" will undoubtedly be seen as the definitive biography as it is unlikely that anyone else will write one that is so complete.
The biography is up to date, covering as it does the Bear Stearns collapse. Buffett’s also gives his views on the current economic crisis.

“It could all end on a dime if they flooded the system with enough liquidity, but there are consequences to doing that. If dramatic enough, the consequences would be the immediate expectation of huge inflation. A lot of things would happen that you might not like. The economy is definitely tanking. It’s not my game, but if I had to bet one way or another – everyone else says a recession will be short and shallow, but I would say long and deep.”

Given that Warren Buffet likes ice cream we thought he may be interested in How to Make Ice Cream

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Homte : Warren Buffett