Introduction

Who Is Warren Buffett?

To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.

—BENJAMIN GRAHAM [GRAHAM, 2003, P. 524]

WARREN BUFFETT ONCE REMARKED THAT HE HAD THOUGHT ABOUT making money since before he was born. Perhaps he meant to say that he had contemplated financial success from as far back as he could remember. One of Buffett’s biographers observed that he “was always telling vignettes from his career; he seemed to have a compulsion to tell and retell, to mythologize his past … to depict his success as partly the result of serendipity, rather than his intense, lifelong drive to get rich” [Lowenstein, 1996, pp. 277–278]. Was Buffett mythologizing when ...

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