Warren Buffett

Acknowledgments

First and foremost, I want to express my deep appreciation to Warren Buffett—not only for his teachings but for allowing me to use his copyrighted material from the Berkshire Hathaway annual reports. It is next to impossible to improve upon what Warren has written. I have never hesitated to confess that the success of my books is a testament to him. Warren is, without question, the most successful investor in history and stands out as one of the most important role models any investor could select.

I would also like to thank Charlie Munger for his earliest words of support. Next to studying Warren, the journey of discovering the major mental models recommended by Charlie's “the art of achieving worldly wisdom” has been one of the most fulfilling accomplishments of my career. There is no doubt I am a better investor through being able to think in multidisciplinary terms. Charlie's motivation inspires me each and every day.

In developing my investment skills, no one has been more important in moving me from the theoretical to the practical than Bill Miller. He is a friend and intellectual coach. He introduced me to the Santa Fe Institute, the study of complex adaptive systems, and the deep well that is philosophical thought. Bill's intellectual generosity these past 37 years has meant more to me that I can say.

After I joined Bill Miller at Legg Mason Capital Management I later had the opportunity to study with Michael Mauboussin. An accomplished strategist, writer, ...