Warren Buffett's Ground Rules: Words of Wisdom from the Partnership Letters of the World's Greatest Investor

Investment guru Warren Buffett is called a "visionary" by many. Buffett himself says that predicting the behavior of the market is meaningless and only patience, frugality and fidelity to principles will help achieve long-term success. He has followed this pragmatic approach since organizing his first partnership, Buffett Partnership Limited (BPL) in 1956. It was then that the young Buffett began sending out letters to partners every six months, in which he talked about the results of his work and explained in detail his methods of investing. Buffett does not write books, but his letters to partners, collected in this publication, provide an opportunity to understand the mindset and investment philosophy of the great entrepreneur. The book's author, investment analyst Jeremy Miller, grouping letters by subject, analyzes BPL's success story from 1956 to 1970, the period Buffett himself admitted was the highest return he had ever received. The approaches outlined here, despite the evolution in investment methods, do not lose their relevance to this day.