Video Transcript: Think, Act, and Invest Like Warren Buffett
Hi, I’m Rick. I’d like to review this new book by telling you three things I like about it, and one I don’t.
First, I make short explanatory videos so I read a lot of these kind of books. I’m giving this book 5 stars because this is a shorter crisper version of his first book. The particular part of both books that I find most compelling is the demonstration of how combining truly diversified kinds of funds results in a better overall portfolio. It’s valuable, well-done and easy-to-understand.
Second, the book is thankfully short and sweet. It is wisdom that every working American should know. But it’s rarely taught — let alone taught well. So this is a book for everyone saving and investing. It’s really not hard. If you are going to do it yourself, this steps you through all the key decisions. But, if you decide that you want to hire a financial advisor you really need your eyes wide open. Not only will this book give you the background to recognize good advice in advance, but it has a chapter telling you how to go about hiring a good financial advisor.
Third, in this book he incorporates sketches from Carl Richards — which are not only brilliant for their wisdom, but fun.
So, nearly everyone should read it, but maybe not for the reason they’ll buy it. Which brings me to the one thing I’m not fond of: the title. But, it is a clever hook to get people to buy the book. It’s only natural for people to want to think, act, and invest like Warren Buffett. And admittedly, the first two chapters explain why they can’t, and why (in fact) Warren Buffett recommends index funds at a very low cost for nearly everyone else. And that’s what the book is about.
So I highly recommend this book. Check it out.
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Ella Saluria says
In our Engineering Economy Class.. I use this book in my presentation about investment and i love reading this dude..
Also, i agree about your review. Thanks ^_^
Thanks for your time and effort on making this site. You’re a good person, Rick.
This is a good tip particularly to those fresh too the
blogosphere. Short but very precise information… Many
thanks for sharing this one. A must reqd post!
Rick Van Ness says
Thanks for watching, and thanks for your comment.
Rick Van Ness says
Thanks for your comment. This applies to speculative investments, which are inappropriate for 99% of investors anyway. That’s gambling, not investing. Low-cost index funds are the appropriate way to invest for the long term; high quality bond funds and CDs are appropriate for the short-term; and some combination of the two are always appropriate to keep at your desired level of investment risk.