Of Permanent Value: The Story of Warren Buffett, Updated and Expanded Edition
2nd Edition
Published on 16. March 2001
Book
Paperback/Softback
1162 pages
978-0-07-137080-6 (ISBN)
Description
The author also includes a complete chapter detailing his remarkable investing record - quarter by quarter - that reveals the incredible investment performance of this compelling and enigmatic figure.
More details
Edition
2nd edition
Language
English
Place of publication
United States
Publishing group
McGraw-Hill Education - Europe
Target group
College/higher education
Professional and scholarly
Illustrations
250 b&w photographs
Dimensions
Height: 226 mm
Width: 150 mm
Thickness: 48 mm
Weight
1361 gr
ISBN-13
978-0-07-137080-6 (9780071370806)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Person
Andrew Kilpatrick's 20 year newspaper career included eight years as a business reporter. He currently working for Prudential Securities and has emerged as one of the world's greatest authorities on Warren Buffet. This book is the fourth book that he has penned on the legendary investor, and his most definitive and complete (the first three were also self published). Mr. Kilpatrick holds a Master's Degree from the University of Vermont, and has served in both the Peace Corps and as a Naval Officer.
Content
Chapter 1. Of Permanent Value--$10,000 into about $200 Million--AFTER TAX. Chapter 2. General Re--A Watershed Event and a Year From Hell. Chapter 3. "Who's Warren Buffett?" Chapter 4. Roots--Politics, Commerce and Media. Chapter 5. "Warren Couldn't Put a Nut on a Bolt...But He Could Add 20 Two-Digit Numbers in His Head."--Don Danly. Chapter 6. Youth--"I Was Conceived During the Stock Market Crash." Chapter 7. Chess with Five-Year Old Jonathan Brandt. Chapter 8. "I Make No Further Provision for My Son, Warren." Chapter 9. Buffet Partnership--A $100 Investment and a 49-Cent Ledger from Woolworth's. Chapter 10. Buffett's Early Investors. Chapter 11. Cornering the Market on 1954 Blue Eagle Four-Cent Airmail Stamps--"If One Likes a Negative Return, Plus a 40-year Time Span, This Was an Investment Hard to Beat."--Tom Knapp. Chapter 12. Appearance and Style--Simple Tastes; Frugal Habits. Chapter 13. Tomato Soup and a Strawberry Milkshake. Chapter 14. Golf Outings (Warren's World). Chapter 15. Dinner at Senator Daniel Moynihan's Home. Chapter 16. Mrs. Susan Buffett--Wife, Board Member, Heiress, Singer, and Anonymous Donor. Chapter 17. "All My Children"..."Thought He Checked Alarm Systems." Chapter 18. "My Dad Couldn't Run a Lawnmower...(but) He Once Told Me It Takes a Lifetime to Build a Reputation and Five Minutes to Ruin It."--Howard Buffett. Chapter 19. Warren Buffett, Jimmy Buffett--Parrot Heads, "Berk" Heads. Chapter 20. Berkshire's History--A Textile Giant That Went Bust. Chapter 21. Bershire in 1970. Chapter 22. Berkshire Hathaway Sold. Chapter 23. How Far Will Berkshire Go?--"Through Chances Various, Through All Vicissitudes, We Make Our Way." Chapter 24: The Stock Price - Berkshire Class A: Downpayment on a House. Chapter 25: American Express - Buffett Peeks in the Cash Register. Chapter 26: Grinnell College - An Education in Investing. Chapter 27: The Berkshire Hathaway Insurance Group - Float That Is "Tantamount to Equity". Chapter 28: Protection Against the Big One. Chapter 29: Skip This Chapter: Only for the Very Hard Core. Chapter 30: More from Elias Fardo: "I'm Feeling Better," Says Value. Chapter 31: Boys Town - "Give an Account of They Stewardship." Chapter 32: Media Connections - Charles Peters, Jay Rockefeller, Kay Graham, et al. Chapter 33: The Washington Post - A Perfect Pitch. Chapter 34: GEICO - "Each Week 10,000 Drivers Dwitch to GEICO." Chapter 35: A Look at GEICO by a Not-Your-Average 21-Year-Old. Chapter 36: Coca-Cola's Don Keough - "Warren, Are You Buying a Share or Two of Coca-Cola Stock?". Chapter 37: The Coca-Cola Company: Less Fizz. Chapter 38: Defining Brand Name in Vietnam and Italy. Chapter 39: Writing Coke Puts. Chapter 40: Wuick, How Could You Turn $2 Million Into $2 Trillion? Charles Munger Seeks Educational Rform by Posing a Riddle. Chapter 41: Midnight at McDonald's. Chapter 42: Mistake: Climbing the Fast-Food Chain and Then Selling. Chapter 43: The Walt Disney Company - Selling a Stake. Chapter 44: Diversified Retailing - A Small Stream Runs into a Mighty River, and Ultimately into an Ocean. Chapter 45: Blue Chip Stamps - "Maybe We Should Buy into Another Dying Business.". Chapter 46: Wesco - "A Tourist-Class Ticket". Chapter 47: Kansas Bankers Surety Co. - Go to a Party: Buy a Business. Chapter 48: Berkshire's "Sainted Seven," Eight, Nine...Businesses. Chapter 49: See's Candies - Improves Your Chances of Getting Sex. Chapter 50: The Buffalo News - A Large Newshole. Chapter 51: Nebraska Furniture Mart - 1.2 Million Square Feet. Chapter 52: Scott & Fertzer - "Scott Fertzer to Acquire Berkshire Hathaway." Chapter 53: Kirby - "It Leaves the Others in the Dust." Chapter 54: World Book - "I Bought World Book, Too." Chapter 55: J.P. Tan's Analysis of Scott Fertzer. Chapter 56: Fechneimer - Brad Kinstler on the Scene. Chapter 57: Borsheim's - A Jewel. Chapter 58: H.H. Brown Shoe - "When a single Steer Topples, They Know." Lowell Shoe/Isabela Shoe. Chapter 59: Dexter Shoe - Ouch!. Chapter 60: Helzberg's Diamond Shops. Chapter 61: R.C. Willey Home Furnishings. Chapter 62: Landing Flightsafety. Chapter 63: Star Furniture Co. Chapter 64: Scooping Up International Dairy Queen. Chapter 65: Executive Jet. Chapter 66: Jordan's Furniture Company - "Not to Be Confused with Jordan-Marsh". Chapter 67: MidAmerican Energy - Getting Electricity from Berkshire Red Roofs Inns. Chapter 68: CORT Business Services. Chapter 69: Berkshire's Financial Businesses. Chapter 70: "Other" - It's Not a Bad Berkshire Subsidiary if a $20 Million Profit in 1999 Means Anything to You. Chapter 71: WPPSS Bonds - "If We Wanted Moody's or Standard & Poor's to Run Our Money, We'd Give It to Them." Chapter 72: RJR Nabisco Bonds - "Junk Bonds Will One Day Live Up to Their Name." Chapter 73: $30 Billion in Fixed-Income Securities. Chapter 74: The Salomon Saga/A Citigroup Stake. Chapter 75: The Gillette Company - Losing Its Edge. Chapter 76: US Airways - "Phone Mr. Wolf." Chapter 77: M&T Bank Corp. - "Convert and Keep". Chapter 78: American Express Redux - Playing Its Cards Right. Chapter 79: Freddie Mac. Chapter 80: The Body of His Work - "Common Sense is Genius Dressed in its Working Clothes." - Ralph Waldo Emerson. Chapter 81: The Press Clippings -"Investments Genius...Fallen Angel...Science Fiction...God...International Icon...False God...Folk Hero of U.S. Capitalism...A National Hero". Chapter 82: "I Wouldn't Want to Own Berkshire." Chapter 83: A Thinly Traded Stock. Chapter 84: Oversexed Man. Chapter 85: Phil Carret - "The Grandfather of Value Investing". Chapter 86: Sequoia Fund's Bill Ruane. Chapter 87: A Who's Who Shareholder List: Otis Booth, Roger Staubach, Ted Koppel, Bill Gates, George Soros - Connections to Forrest Mars, Jr., and Ronald and Nancy Reagan. Call Girls. Chapter 88: Steward Horejsi - Rags to Riches. Chapter 89: Oil Check: Some Stayed and Some Left Mother Berkshire. Chapter 90: George Buffett and a Beauty Pageant. Chapter 91: Ann Landers Has a Date with Buffett..."Behaves Shamelessly." Chapter 92: Mary and John Houbolt - A Moon Landing. Chapter 93: Paul Harvey. Chapter 94: Edwin Pope. Chapter 95: "I Asked If He Knew of My Father, Hank Greenberg, and He said '1938 - Hit 58 Home Runs, Had 183 RBIs in 1937'..." - Glenn H. Greenberg. Chapter 96: "From Margin Clerk to Millionaire" - The Difference in Bill Scargle's Life. Chapter 97: High School Dropout, Male Model, Construction Worker, Firefighter: I'm a Millionaire, Thanks to Warren - Neil McMahon. Chapter 98: Recollections of a Joy Ride from Ed Prendeville, A Train Collector. Chapter 99: Arthur Rowsell: A Trader for Buffett, Munger and Guerin - "Does Warren Buffett Have an Account at the Bank?"..."Well, He Owns the Bank." Chapter 100: "Hey, Jerry, Drive Slow...I Wanted to Interview Him as Long as Possible." - Omaha World-Herald's Jim Rasmussen. Chapter 101: Arthur Clarke: 2+2=4. Chapter 102: Notes from the Desk of Chris Stavrou. Chapter 103: Buffett has Lunch with Matthew Troxel. Chapter 104: A View from Australia. Chapter 105: "Who Was Going to Go into a Foxhole with Me?" Chapter 106: An Unsuccessful Bid for Long-Term Capital Management ("Long-Gone Capital"). Chapter 107: The Berkshire Annual Meeting - "Buffett Ha Left the Building." Chapter 108: A Special Meeting/Cardboard Cutout of Munger. Chapter 109: Phil Swigard's Newsletter. Chapter 110: Gorat's - "I'll Have What He's Having." Chapter 111: Generics: Business School in an Electrifying Two Minutes. Chapter 112: Poetry Section. Chapter 113: The Berkshire Annual Report - The Holy Scripture. Chapter 114: Berkshire's Web Site - "But How Will I Know. Chapter 115: What color the Annual Report Is?" Chapter 116: The Berkshire Annual Reprot for 2040. Chapter 117: Torchmark - "I'll Look at Torchmark." Chapter 118: Time Warner - "If He Had Become a Major Shareholder, We Probably would Not Have Gone Through What We Did." - J. Richard Munro. Chapter 119: "Excuse Me. Aren't You warren Buffett?" Chapter 120: Low-Income Housing: Warren Edward Buffet Talks with President George Herbert Walker Bush. Chapter 121: What Do You Think the Markets Will Do?..."Well, the President (clinton) Didn't Tell Us Anything about What the Markets Will Do." Chapter 122: Ps Group - "Never Sleep With Anyone Who Has More Problems Than You Do." Chapter 123: Wells fargo - "A Dead Duck". Chapter 124: Guiness - a Merger While Waiting for the world Recovery. Chapter 125: General Dynamics - so Much For: "We-Don'tUnderstand-Technology." Chapter 126: UST/Money in the Weeds - Just Slide a Pinch Between Your Cheek and Gum. Chapter 127: Bristol-Myers Squibb - for Market Headaches, Take Two Bufferin. Chapter 128: Gannett: Extra! Extra! Newspapers Still Make Money! Chapter 129: PNC - An East Coast Bank. Chapter 130: The Sale of Mattel - Newly Shaped Barbie, Cabbage Patch Kids, Hot Wheels. Chapter 131: Arrow electronics. Chapter 132: American International Group. Chapter 133: Stakes in Other Companies/Liz Claiborne, Jones Apparel and Dun & Bradstreet/Microsoft Preferred Stock. Chapter 134: Mystery Theater. Chapter 135: A Silver Lining. Chapter 136: World Headquarters - "The Playpen". Chapter 137: The indefensible/Indispensable/Now Executive Jet - "It's Shameful How Much I Love It." Chapter 138: Charles Munger - "The Main Risk We Face as We Scrabble on Is Not Going Broke But Going Crazy." Chapter 139: Munger: Investment Practices of Leading Charitable Institutions. Chapter 140: The Channel Cat. Cha
pter 141: Munger's Atonement. Chapter 142: Lou simpson - "That's The Fella." Chapter 143: Tightwad - "fees specified for exhibits are $5.00." Chapter 144: Ad to Buy businesses - Looking for a $5-20 Billion Elephant (or Gorilla). Chapter 145: His Personal Portfolio - Buffett Is Richer Than You Think. Chapter 146: The Omaha Golden Spikes - "Graviational Waves". Chapter 147: Berkshire's Intrinsic Value - "Run Naked Through the Money." Chapter 148: The Schroeder Report - $91,000-$97,000 a Share. Chapter 149: Fairholme Capital's Bruce Berkowitz - Intrinsic Value: $62,000-$73,000. Chapter 150: What Does the Future Hold for Berkshire? Chapter 151: What's $25 Billion of Float Worth? Chapter 152: What's Berkshire Really Worth? - An Abe Lincoln Signature. Chapter 153: Going Online with Yellow BRKers - "wanna come Upstairs and See My A-Share?" Chapter 154: Open Letter to Buffett. Chapter 155: A Berkshire shareholder Scores a Perfect 1,600 on her SATs: Harvard It Is. Chapter 156: "GutsyOK". Chapter 157: Suicide Watch in the "Bummer of '99". Chapter 158: Point Couterpoint. Chapter 159: A Message from Buffett's Daughter. Chapter 160: The Bunny Farm (A Lesson in Rational Exuberance). Chapter 161: Washington and Lee University Gets 1,000 Shares of Berkshire - "That's What Warren Buffett Did for Me." Chapter 162: "Sir, What If You Die?" - It Wouldn't Be as Negative for the Holers as It Will Be for Me." Chapter 163: "Yesterday I Died." Chapter 164: The Buffett Foundation - To Be the World's Largest Charity. Chapter 165: Second Chance. Chapter 166: Doris Buffett Bryant - The Sunshine Lady Foundation. Chapter 167: Donald and Mildred Othmer. Chapter 168: All-american Alabama Football Player Kermit Kendrick Tackles Buffett for An Authograph. Chapter 169: Buffett Picks Up a Penny - "The Beginning of The Next Billion." Chapter 170: harvard-Rejectee Returns in Truimph - Harvard Flunks Spelling Test. Chapter 171: "Something's Happened, Doug. I've Lost Touch with the Warren Buffett in Me." Chapter 172: The Wit of Warren Buffett - "Testing...Testing...One Million...Two Million...Three Million." Chapter 173: The Wisdom of Warren Buffett - "The Fact that People Will Be Full of Greed, Fear or Folly is Predictable. The Sequence is Not." Chapter 174: Lunch with Warren Buffett - I'll Have a coke." Attaboy!" Chapter 175: Louis Rukeyser Has Lunch with Warren Buffett. Chapter 176: "I've Made More Money with My Rear End Than with My Head." Chapter 177: "A Do-It-Yourself Stock Split". Chapter 178: One of the Richest People in the World. Chapter 179: So Long John Jacob Astor, Andrew Carnegie, John d. Rockefeller; Hello, Bill Gates. Chapter 180: Is It Okay with You If He Shows Up at Your Book Signings?" Chapter 181: THE RECORD -"The Best It YEt to Come." Chapter 182: Berkshire's Stock Tables: "Show Me the Money." - Cuba Gooding - Jerry Maguire. Chapter 183: A Word From the Director of Technology of the Wilson Coin-Operated Machine co,. Chapter 184: "Our Peanut Machine Subsidiary had Gross Revenues of One Penny and a Big Lawsuit." Chapter 185: "What's the Combined IQ of Warren Buffett and Charles Munger?" Expanding or "Shrinking"? Chapter 186: A $210,000 Wallet. Chapter 187: Overheard: "We Won't Be in Ohio That Weekend." Chapter 188: A View from Gifford Combs. Chapter 189: A Possible Stock Buyback. Chapter 190: Debbie Reynolds. Chapter 191: Who Wants to Be a Jillionaire? Chapter 192: "Look, He's Moving!" Chapter 193: "He Rests...He Has Traveled." - James Joyce. "Maybe Just Once." An Exalted Journey. Chapter 194: Back to Ben Graham.
pter 141: Munger's Atonement. Chapter 142: Lou simpson - "That's The Fella." Chapter 143: Tightwad - "fees specified for exhibits are $5.00." Chapter 144: Ad to Buy businesses - Looking for a $5-20 Billion Elephant (or Gorilla). Chapter 145: His Personal Portfolio - Buffett Is Richer Than You Think. Chapter 146: The Omaha Golden Spikes - "Graviational Waves". Chapter 147: Berkshire's Intrinsic Value - "Run Naked Through the Money." Chapter 148: The Schroeder Report - $91,000-$97,000 a Share. Chapter 149: Fairholme Capital's Bruce Berkowitz - Intrinsic Value: $62,000-$73,000. Chapter 150: What Does the Future Hold for Berkshire? Chapter 151: What's $25 Billion of Float Worth? Chapter 152: What's Berkshire Really Worth? - An Abe Lincoln Signature. Chapter 153: Going Online with Yellow BRKers - "wanna come Upstairs and See My A-Share?" Chapter 154: Open Letter to Buffett. Chapter 155: A Berkshire shareholder Scores a Perfect 1,600 on her SATs: Harvard It Is. Chapter 156: "GutsyOK". Chapter 157: Suicide Watch in the "Bummer of '99". Chapter 158: Point Couterpoint. Chapter 159: A Message from Buffett's Daughter. Chapter 160: The Bunny Farm (A Lesson in Rational Exuberance). Chapter 161: Washington and Lee University Gets 1,000 Shares of Berkshire - "That's What Warren Buffett Did for Me." Chapter 162: "Sir, What If You Die?" - It Wouldn't Be as Negative for the Holers as It Will Be for Me." Chapter 163: "Yesterday I Died." Chapter 164: The Buffett Foundation - To Be the World's Largest Charity. Chapter 165: Second Chance. Chapter 166: Doris Buffett Bryant - The Sunshine Lady Foundation. Chapter 167: Donald and Mildred Othmer. Chapter 168: All-american Alabama Football Player Kermit Kendrick Tackles Buffett for An Authograph. Chapter 169: Buffett Picks Up a Penny - "The Beginning of The Next Billion." Chapter 170: harvard-Rejectee Returns in Truimph - Harvard Flunks Spelling Test. Chapter 171: "Something's Happened, Doug. I've Lost Touch with the Warren Buffett in Me." Chapter 172: The Wit of Warren Buffett - "Testing...Testing...One Million...Two Million...Three Million." Chapter 173: The Wisdom of Warren Buffett - "The Fact that People Will Be Full of Greed, Fear or Folly is Predictable. The Sequence is Not." Chapter 174: Lunch with Warren Buffett - I'll Have a coke." Attaboy!" Chapter 175: Louis Rukeyser Has Lunch with Warren Buffett. Chapter 176: "I've Made More Money with My Rear End Than with My Head." Chapter 177: "A Do-It-Yourself Stock Split". Chapter 178: One of the Richest People in the World. Chapter 179: So Long John Jacob Astor, Andrew Carnegie, John d. Rockefeller; Hello, Bill Gates. Chapter 180: Is It Okay with You If He Shows Up at Your Book Signings?" Chapter 181: THE RECORD -"The Best It YEt to Come." Chapter 182: Berkshire's Stock Tables: "Show Me the Money." - Cuba Gooding - Jerry Maguire. Chapter 183: A Word From the Director of Technology of the Wilson Coin-Operated Machine co,. Chapter 184: "Our Peanut Machine Subsidiary had Gross Revenues of One Penny and a Big Lawsuit." Chapter 185: "What's the Combined IQ of Warren Buffett and Charles Munger?" Expanding or "Shrinking"? Chapter 186: A $210,000 Wallet. Chapter 187: Overheard: "We Won't Be in Ohio That Weekend." Chapter 188: A View from Gifford Combs. Chapter 189: A Possible Stock Buyback. Chapter 190: Debbie Reynolds. Chapter 191: Who Wants to Be a Jillionaire? Chapter 192: "Look, He's Moving!" Chapter 193: "He Rests...He Has Traveled." - James Joyce. "Maybe Just Once." An Exalted Journey. Chapter 194: Back to Ben Graham.