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Warren Buffett built Berkshire Hathaway into something remarkable— and Fortune journalist Carol Loomis had a front-row seat for it all. When Carol Loomis first mentioned a little-known Omaha hedge fund manager in a 1966 Fortune article, she didn’t dream that Warren Buffett would one day be considered the world’s greatest investor—nor that she and Buffett would quickly beco Warren Buffett built Berkshire Hathaway into something remarkable— and Fortune journalist Carol Loomis had a front-row seat for it all. When Carol Loomis first mentioned a little-known Omaha hedge fund manager in a 1966 Fortune article, she didn’t dream that Warren Buffett would one day be considered the world’s greatest investor—nor that she and Buffett would quickly become close personal friends. As Buf­fett’s fortune and reputation grew over time, Loomis used her unique insight into Buffett’s thinking to chronicle his work for Fortune, writ­ing and proposing scores of stories that tracked his many accomplishments—and also his occa­sional mistakes. Now Loomis has collected and updated the best Buffett articles Fortune published between 1966 and 2012, including thirteen cover stories and a dozen pieces authored by Buffett himself. Loomis has provided commentary about each major arti­cle that supplies context and her own informed point of view. Readers will gain fresh insights into Buffett’s investment strategies and his thinking on management, philanthropy, public policy, and even parenting. Some of the highlights include: The 1966 A. W. Jones story in which Fortune first mentioned Buffett. The first piece Buffett wrote for the magazine, 1977’s “How Inf lation Swindles the Equity Investor.” Andrew Tobias’s 1983 article “Letters from Chairman Buffett,” the first review of his Berk­shire Hathaway shareholder letters. Buffett’s stunningly prescient 2003 piece about derivatives, “Avoiding a Mega-Catastrophe.” His unconventional thoughts on inheritance and philanthropy, including his intention to leave his kids “enough money so they would feel they could do anything, but not so much that they could do nothing.” Bill Gates’s 1996 article describing his early impressions of Buffett as they struck up their close friendship. Scores of Buffett books have been written, but none can claim this work’s combination of trust between two friends, the writer’s deep under­standing of Buffett’s world, and a very long-term perspective.


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Warren Buffett built Berkshire Hathaway into something remarkable— and Fortune journalist Carol Loomis had a front-row seat for it all. When Carol Loomis first mentioned a little-known Omaha hedge fund manager in a 1966 Fortune article, she didn’t dream that Warren Buffett would one day be considered the world’s greatest investor—nor that she and Buffett would quickly beco Warren Buffett built Berkshire Hathaway into something remarkable— and Fortune journalist Carol Loomis had a front-row seat for it all. When Carol Loomis first mentioned a little-known Omaha hedge fund manager in a 1966 Fortune article, she didn’t dream that Warren Buffett would one day be considered the world’s greatest investor—nor that she and Buffett would quickly become close personal friends. As Buf­fett’s fortune and reputation grew over time, Loomis used her unique insight into Buffett’s thinking to chronicle his work for Fortune, writ­ing and proposing scores of stories that tracked his many accomplishments—and also his occa­sional mistakes. Now Loomis has collected and updated the best Buffett articles Fortune published between 1966 and 2012, including thirteen cover stories and a dozen pieces authored by Buffett himself. Loomis has provided commentary about each major arti­cle that supplies context and her own informed point of view. Readers will gain fresh insights into Buffett’s investment strategies and his thinking on management, philanthropy, public policy, and even parenting. Some of the highlights include: The 1966 A. W. Jones story in which Fortune first mentioned Buffett. The first piece Buffett wrote for the magazine, 1977’s “How Inf lation Swindles the Equity Investor.” Andrew Tobias’s 1983 article “Letters from Chairman Buffett,” the first review of his Berk­shire Hathaway shareholder letters. Buffett’s stunningly prescient 2003 piece about derivatives, “Avoiding a Mega-Catastrophe.” His unconventional thoughts on inheritance and philanthropy, including his intention to leave his kids “enough money so they would feel they could do anything, but not so much that they could do nothing.” Bill Gates’s 1996 article describing his early impressions of Buffett as they struck up their close friendship. Scores of Buffett books have been written, but none can claim this work’s combination of trust between two friends, the writer’s deep under­standing of Buffett’s world, and a very long-term perspective.

30 review for Tap Dancing to Work: Warren Buffett on Practically Everything, 1966-2012

  1. 4 out of 5

    Sean

    A panoply of Fortune articles, excerpts of Warren Buffett's Berkshire Hathaway shareholder letters, and Buffett's speeches, this book strives to depict Warren Buffett as a man and a businessman. It falls short on both fronts. Except for the impressiveness of the chronological compendium of Warren Buffett-isms, the book suffers most from its lack of focus and a coherent, unified thesis that the editor, Carol Loomis, somehow chose to omit. The book reads as though Loomis never really thought hard A panoply of Fortune articles, excerpts of Warren Buffett's Berkshire Hathaway shareholder letters, and Buffett's speeches, this book strives to depict Warren Buffett as a man and a businessman. It falls short on both fronts. Except for the impressiveness of the chronological compendium of Warren Buffett-isms, the book suffers most from its lack of focus and a coherent, unified thesis that the editor, Carol Loomis, somehow chose to omit. The book reads as though Loomis never really thought hard about what pieces of Buffett's patchwork matter most. Many other biographers have written about Buffett and delved into his mind -- I read Roger Lowenstein's in 2010 and particularly enjoyed that book -- and given Loomis's long-standing relationship with Buffett, you would assume the book would reveal an inside perspective on Buffett's thought process, especially since she helped him craft his annual shareholder letters. Instead, you get little more than an arm's length, third party perspective on Buffett. Loomis's close-knit relationship with Buffett, if anything, feels like more of a liability than an asset -- she abstains from any overly critical analysis of Buffett at all. For those of you who will read this book to learn about Buffett's craft of investing, you'll find only two or three pieces of substance. The best, in my opinion, "How Inflation Swindles the Equity Investor" actually lays out a foundation for investing in cheap securities. The next best "Warren Buffett on the Stock Market" describes the relationship between economic output and stock and bond returns. And the 3rd best, "Why Stocks Beat Gold and Bonds" sum up his perspective nicely. Read these three for substance and the other excerpts for hackneyed Buffettisms.

  2. 4 out of 5

    Larry

    I liked this book overall, but it really wasn't what I expected. Lured by the subtitle "Warren Buffet on Practically Everything," I was expecting a book in which Buffet brought his keen intellect and concise thinking to all sorts of subjects. But the book is primarily about the world of investing, and gets rather technical at points. Still, there is plenty for a layman like myself to enjoy, and I learned a ton, namely that most investing is something to be left to the professionals, and even the I liked this book overall, but it really wasn't what I expected. Lured by the subtitle "Warren Buffet on Practically Everything," I was expecting a book in which Buffet brought his keen intellect and concise thinking to all sorts of subjects. But the book is primarily about the world of investing, and gets rather technical at points. Still, there is plenty for a layman like myself to enjoy, and I learned a ton, namely that most investing is something to be left to the professionals, and even they are just making educated guesses. Buy low-cost index funds, don't try to time the market, and just let your money grow over the long-term in the stock market.

  3. 4 out of 5

    Harold Cameron

    "Warren Buffett on Practically Everything, 1966-2012: A Fortune Magazine Book" "Warren Buffett built Berkshire Hathaway into something remarkable-- and Fortune journalist Carol Loomis had a front-row seat for it all. When Carol Loomis first mentioned a little-known Omaha hedge fund manager in a 1966 Fortune article, she didn't dream that Warren Buffett would one day be considered the world's greatest investor--nor that she and Buffett would quickly become close personal friends. As Buffett's fortu "Warren Buffett on Practically Everything, 1966-2012: A Fortune Magazine Book" "Warren Buffett built Berkshire Hathaway into something remarkable-- and Fortune journalist Carol Loomis had a front-row seat for it all. When Carol Loomis first mentioned a little-known Omaha hedge fund manager in a 1966 Fortune article, she didn't dream that Warren Buffett would one day be considered the world's greatest investor--nor that she and Buffett would quickly become close personal friends. As Buffett's fortune and reputation grew over time, Loomis used her unique insight into Buffett's thinking to chronicle his work for Fortune, writing and proposing scores of stories that tracked his many accomplishments--and also his occasional mistakes. Now Loomis has collected and updated the best Buffett articles Fortune published between 1966 and 2012, including thirteen cover stories and a dozen pieces authored by Buffett himself. Loomis has provided commentary about each major article that supplies context and her own informed point of view. Readers will gain fresh insights into Buffett's investment strategies and his thinking on management, philanthropy, public policy, and even parenting. Some of the highlights include: * The 1966 A. W. Jones story in which Fortune first mentioned Buffett. * The first piece Buffett wrote for the magazine, 1977's "How Inflation Swindles the Equity Investor." * Andrew Tobias's 1983 article "Letters from Chairman Buffett," the first review of his Berk¬shire Hathaway shareholder letters. * Buffett's stunningly prescient 2003 piece about derivatives, "Avoiding a Mega-Catastrophe." * His unconventional thoughts on inheritance and philanthropy, including his intention to leave his kids "enough money so they would feel they could do anything, but not so much that they could do nothing." * Bill Gates's 1996 article describing his early impressions of Buffett as they struck up their close friendship. Scores of Buffett books have been written, but none can claim this work's combination of trust between two friends, the writer's deep under¬standing of Buffett's world, and a very long-term perspective." (From the Penguin Publishing Group Website) About the Author: Carol Loomis, 82, is at Editor-At-Large at Fortune magazine, where she has worked since 1954. She has written extensively on Warren Buffett since 1966 and is well known as the business journalist on closest terms with him. For the past 35 years she has edited Buffett's famous and eagerly-awaited annual letter to the shareholders of Berkshire- Hathaway. Loomis' many honours include the Gerald Loeb Lifetime Achievement Award for business journalism and the Distinguished Achievement Award from the Society of American Business Editors and Writers. My thoughts about the book: Tap Dancing to Work is Warren Buffett to a T. With his warm and endearing smile gracing the cover of the book you open the pages of the book inside that are full of revelations about the life, the wisdom, the wit and the absolute brilliance of the man who has not only made himself very rich and successful but has also helped countless other people achieve success along the way as well. In the book we read a bit of his humble beginnings in Omaha to his becoming the billionaire CEO of Berkshire Hathaway. The book begins in April1966 with an article bearing an interesting sort of title, "The Jones Nobody Keeps Up With" which shares the amazing story about Alfred "Winslow" Jones," a financial wonder of Wall Street and as the article relates pretty much the creator of the "hedge" idea of investing. Article 2 jumps ahead to January 1970 where we read about Mr. Buffett closing down his very profitable "Buffett Partnership" and remaining in the investment world as the chief executive of Berkshire Hathaway. And it is in this article that one interesting fact is shared about Mr. Buffett and that being - although he has made tons of money he has remained a down to earth, normal living sort of man...it is written that he was not "ostentatious" in how he lived and still lives today. And from Article 2 to Article 86 - is a compilation of articles that covers just about every topic imaginable from Mr. Buffet's thoughts about the stock market, to "How to Live With a Billion;" to the financial roller coaster he and his investors experienced through the years he has managed Berkshire and what he learned in both the down times as well as the up times; to the Bill Gates and Warren Buffett friendship with their deciding to give vast sums of their money sway for charitable causes, to his thoughts about what President "Obama Means For Business," and finally the matter of his "Giving Pledge." And one of my most cherished articles in the book is the article titled "My Philanthropic Pledge" where he shares about his giving more than 99% of his wealth to philanthropy during his lifetime or at death, but, he sees the investment of his personal time and that of his 3 children's time in the lives of others as far for significant. What a poignant and revealing article about what he believes and how it impacts how he and his family live today as the patriarch of one of the richest families in the world. In the article Mr. Buffett, a man who possesses impressive assets states, "The asset I most value, aside from health, is interesting, diverse, and long-standing friends." And regarding his wealth and that of his family, "the reaction of my family and me to our extraordinary good fortune is not guilt, but rather gratitude." And that sure says a lot about a truly extraordinary man who to this very day is still "Tap Dancing To Work." What a delightful, entertaining, informative, and thought provoking book "Tap Dancing to Work Is." I do hope you will buy yourself a copy, sit down with a hot drink perhaps or what ever you prefer, put your feet up, sit back and open the book and take a look inside the amazing life and world of Warren Buffett. Disclosure of Material Connection: I received the book at no cost from the Penguin Publishing Group for review purposes. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 255: "Guides Concerning the Use of Endorsements and Testimonials in Advertising."

  4. 5 out of 5

    Hugo Åkerstrand

    This is a hard book to review. First you have to decide whether to review the factual content, the man or the writing. A crude average of all the parameters will tell you that I liked the book. For sure, I have had to struggle with my financial illiteracy during certain sections but I also feel like the book rubbed off some knowledge on me. And there is of course knowledge to gain when reading a description on one of the worlds most prominent capitalists- we do, whether you like it or not, live This is a hard book to review. First you have to decide whether to review the factual content, the man or the writing. A crude average of all the parameters will tell you that I liked the book. For sure, I have had to struggle with my financial illiteracy during certain sections but I also feel like the book rubbed off some knowledge on me. And there is of course knowledge to gain when reading a description on one of the worlds most prominent capitalists- we do, whether you like it or not, live in a world that rewards the rich in influence and power. A personal motivator for me was to gain insight into a man who is not only immensely successful at his job (something I would like to be, one day) but also breaks the mold of both genius (bursting out in hearty guffaws) all while sporting an intelligent and interested world view. In short, I find Warren Buffet inspirational. My feelings haven't changed after the book - there is wisdom to be gained and amusement to be shared. I wouldn't recommend the book to anyone - it is a highly esoteric journey that you should step out on out of your own will. But for the one who seeks what I did the book will not disappoint.

  5. 4 out of 5

    Arup Guha

    This is not a book in the sense one develops a thesis or a story. But it another sense it could be, possibly biased by the authors selections. The story it develops is one of buffets life as an investor. Some of the content is quite solid, but some of it could have been avoided without any loss to the central theme of the book. The very short snippets for instance are fun to read, but hardly add anything except to the folklore around the great man. Another thing I have a slight gripe about is ca This is not a book in the sense one develops a thesis or a story. But it another sense it could be, possibly biased by the authors selections. The story it develops is one of buffets life as an investor. Some of the content is quite solid, but some of it could have been avoided without any loss to the central theme of the book. The very short snippets for instance are fun to read, but hardly add anything except to the folklore around the great man. Another thing I have a slight gripe about is carol loomis’s unwillingness to share her insider view of buffet developed over several decades of close association. Possibly thats the price for the close access in the first place. With all that, what brings value to this book? Before answering that let me share I once had the opportunity to interact with one professor who had long research association with someone who had equally long co research experience with Professor einstein himself. Through him I got a glimpse of what extraordinarily smart means. You just need to go through everything authored by buffet himself in this book-direct articles and extracts from annual letters. You will see the unique way of looking at things and the power of simplification that extraordinary smarts brings. The inflation article itself is worth two reads atleast. Gobble it up, you wont regret the effort.

  6. 5 out of 5

    Matt Papes

    I recently watched the documentary of Warren Buffet on HBO and highly recommend it. This book covers much of the same ground. I think everyone can benefit by learning from the greatest investor of our time. And his sense of humor is terrific too!

  7. 5 out of 5

    Chris Coccaro

    Collection of articles through history that have Buffett at the center - newspapers, journals, articles, everything. The clues to his genius and legendary status as one of, if not the richest man in America are found throughout the personal glimpse that Loomis - his personal editor for years - has combined in this collection. While it does walk similar in line with an autobiography, it's clear that Buffett would prefer to dole out his wisdom through his publically available annual letters to his Collection of articles through history that have Buffett at the center - newspapers, journals, articles, everything. The clues to his genius and legendary status as one of, if not the richest man in America are found throughout the personal glimpse that Loomis - his personal editor for years - has combined in this collection. While it does walk similar in line with an autobiography, it's clear that Buffett would prefer to dole out his wisdom through his publically available annual letters to his Berkshire Hathaway shareholders - of which many authors have collected their cream by reinterpreting his ideas and selling them. In this way, Buffett is even more charitable - not capitalizing on the reputation that he's earned outside of his investing firm. I suppose his personal editor, Loomis, doesn't exactly share his great wealth and charity. :) I am looking forward to reading through his predecessor's works - Benjamin Graham. It is interesting to see the baton pass going on from generation to generation, specifically in the interactions between Bill Gates and Buffett and how often their paths cross. While Bill Gates is completely invested in technology and using it to help others, Buffett sticks to tried and true, timeless classics: Coca Cola. Gillette. Things he knows and loves, and knows others will know and love. It will be interesting to see who steps up in the wake of these massive giants of industry and how they interact. ~~~ Ch1 But over the years, and in the aggregate, the return on book level tends to keep coming back to level around 12%. It shows no signs of exceeding that level significantly in inflationary years or in years of stable prices for that matter. Ch2 And so, as conventional private capital accumulation methods falter under inflation, our government will increasingly attempt to increase capital flows to industry either unsuccessfully, as in England, or successfully as in Japan. The necessary cultural and historical underpinning for Japanese style enthusiastic partnership for government, business, and labor seems lacking here. If we are lucky, we will avoid following the English path where all segments fight over divisions of the pie rather than pool their energies to enlarge it. Buffet prefers to buy stocks that he will want to hold indefinitely. In principle, says the Efficient Market Hypothesis, no one can systematically beat the stock market. In applying EMH to Warren Buffet, Charles Munger, William Ruiane, and Walter Shosh, you would have three difficulties. 1. All have out performed the market over long periods. 2. They have generally done so in both bullish and bearish environments, so it's hard to argue that their higher returns simply reflect greater risk taking. 3. All are pursuing strategies that reflect the ideas of the late Benjamin Graham, so it's hard to view their performance as a random event. He is convinced, in fact, that the market discounts the prices of companies that should be making repurchases and don't - instead frittering away their money on acquisitions or other investments of far less value. The corollary is a markup in prices for companies that do repurchase shares because investors identify the buybacks as a sign that management will be consistently inclined to act in the interests of shareholders. All managements say they're acting in the interests of shareholders. What you'd like to do as an investor is to hook them up to a machine and run a polygraph to see whether it's true. Short of a polygraph, the best sign of a shareholder-oriented management, assuming its stock is under valued, is repurchases. A polygraph-proxy - that's what it is. Warren Buffet argues that most proprietors should forget trying to keep the management of their beloved companies in the family. He assumes current non-family management will continue running Berkshire after he is gone. He grants that occasionally an heir may be the most suitable candidate to run a company, but believes that the odds are against it. "Would anyone say that the best way to pick a championship Olympic team is to select the sons and daughters of those who won 20 years ago? Giving someone a favored position just because his old man accomplished something is a crazy way for a society to compete." Ch4 In mid October of 1987, a week of vicious selling on the stock market culminated on Black Monday the 19th when the DOW Industrials average dropped by 22.6%. As the causes of the crash came under intense investigation, attention focused on the role played by a derivative S&P index futures in which trading had only been permitted for a few years. In particular, institutional investors following a portfolio insurance strategy had repeatedly shorted S&P index futures with their trading drawing in other institutional investors who did the same, thereby magnifying the market panic. We do not need more people gambling in non-essential instruments identified with the stock market in this country, nor brokers who encourage them to do so. What we need are investors and advisers who look at the long term prospects for an enterprise and invest accordingly. We need the intelligent commitment of investment capital, not leveraged market wagers. The propensity to operate in the intelligent, pro-social sector of capital markets is deterred, not enhanced, by an active and exciting casino operating in somewhat the same arena, utilizing somewhat similar language and serviced by the same workforce. Ch5 "With few exceptions, when a manager with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that maintains intact." - WB Ch6 Today, Buffett, recalling those strange moments (Gerald Corrigan at Solomon), remembers also that George Washington cried as he was signing the death warrant of Major Andre, a British spy. But like Corrigan, he signed. "There's never just one roach in the kitchen." - WB Ch7 The size of the investor's brain is less important than his ability to detach the brain from the emotions. Rationality is essential when others are making decisions based on short term greed or fear. That is when the money is made. Ch8 In fact, the true investor welcomes volatility because a wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses. It is impossible to see how the availability of such prices can be thought of as increasing the hazards for an insurer who is totally free to either ignore the market or exploit its folly. Ch9 So, why do smart people do things that interfere with the output they're entitled to? It gets into the habits and character and temperament and behaving in a rational manner. Not getting in your own way. As I said, everybody here has the ability absolutely to do anything I do and beyond. Some of you will and some of you won't. For the ones that won't, it will be because you get in your own way, not because the world doesn't allow you. So I have one little suggestion for you: Pick out the person you admire most and then write down why you admire them. You're not to name yourself in this. And then, put down the person that you frankly can stand the least and write down the qualities that turn you off in that person. The qualities in the person you admire are traits that you, with a little practice, can make your own. And with practice, become habit forming. The chains of habit are too light to be felt until they are too heavy to be broken. Ch10 Mergers will be motivated by very good considerations. There truly are synergies in a great many mergers but whether there are synergies or not, they're going to keep happening. You don't get to be the CEO of a big company by being a Milquetoast. You are not devoid of animal spirits - and it gets contagious. "It's important to have someone who you totally trust, who is totally committed, who shares your vision and yet has a little bit different skills and also who also acts as a check on you. Some of the ideas you run by him you know he's going to say 'Hey wait a minute, have you thought about this or that?' The benefit of sparking off someone who's got that kind of brilliance is that it not only does it make business more fun, but it really leads to a lot of success." - Bill Gates Ch11 The key to investing is not assessing how much an industry is going to affect a society or how much it will grow but rather determining the competitive advantage of any given company and above all the durability of that advantage. The products or services that have wide sustainable moats around them are the ones that deliver rewards to investors. Ch15 "Berkshire is in the business of making easy predictions. If the deal looks too hard, the partners simply shelf it. We have a high moral responsibility to be rational" - Charles Munger. Think about that for a minute. Have you every heard a business leader describe their charge thusly? There's a reason that there's just one Berkshire Hathaway, one Warren Buffett, and one Charlie Munger. Today, a wry comment that Wall Streeter Shelby Colin Davis made long ago seems apt: "Bonds promoted as offering risk free returns are now priced to deliver return free risk".

  8. 5 out of 5

    Andrew Ye

    I originally picked out this book because I like reading biographies on inspirational people, and Warren Buffett just made an impression on me when it said he donated 37 billion dollar to charity The thing that most impressed me in this book is that it showed everything from Warren Buffet's life including the part on how he built his business empire. He made Berkshire Hathaway into something that is incredible. It showed that he didn't just have success, he also had tremendous failures but he cli I originally picked out this book because I like reading biographies on inspirational people, and Warren Buffett just made an impression on me when it said he donated 37 billion dollar to charity The thing that most impressed me in this book is that it showed everything from Warren Buffet's life including the part on how he built his business empire. He made Berkshire Hathaway into something that is incredible. It showed that he didn't just have success, he also had tremendous failures but he climbed back from it. I wished I invested in Berkshire Hathaway decades ago!! I really liked seeing things from the world's greatest investor's view because it teaches you on business and life. Nobody ever sees the sides of Warren Buffett other than the rich part. In my opinion that is the really important part of success other than richness. They had failures, competition, wrong decisions and important choices, and perseverance. Those all bundled up into success. "It takes decades to build a reputation, and minutes to ruin one" (pg. 104) The Fortune articles gave a lot of detail on his life. Bill Gates, in his 1996 article, describes his early impressions of Buffett as they formed a deep friendship. At age 11, Gates made his first stock purchase through Buffett! "You should invest in a business that even a fool can run, because some day a fool will." Gates on Buffett: "I have never met anyone who thought about business in such a clear way." (pg. 276) This book was significant to my life because it made me see things from Buffett's view and made me realize that success is mostly hard work. Warren Buffett influenced me in numerous ways. One, he is a philanthropist, he gave away 37 billion dollars to charity. Two, he is a tycoon, he managed from a middle class boy into one of the richest people in the world. Three, he is modest, he lives in a 30,000 dollar house he bought when he was 25 and he drove a car that was hail damaged before.

  9. 5 out of 5

    Camilo Rodriguez

    It is a good book to nurish your mind.

  10. 5 out of 5

    Milan

    A few people have mistaken this book for Warren Buffett's biography, all I can say to them is to please choose your books carefully. This is not a biography but a selection of articles from Fortune magazine and some excerpts of Warren Buffett's Berkshire Hathaway shareholder letters and his speeches. It also touches upon topics such as investment principles, philanthropy, work ethics and management decisions. This book can only be useful if you know the background stories behind those articles. A few people have mistaken this book for Warren Buffett's biography, all I can say to them is to please choose your books carefully. This is not a biography but a selection of articles from Fortune magazine and some excerpts of Warren Buffett's Berkshire Hathaway shareholder letters and his speeches. It also touches upon topics such as investment principles, philanthropy, work ethics and management decisions. This book can only be useful if you know the background stories behind those articles. It provides another perspective to a few events of Buffett's life. I have read two of his biographies so I was able to relate to what is being said by the Fortune staffers led by Carol Loomis, who is a long time friend of Buffett. The articles by Bill Gates and which highlight Buffett's conversations with Bill Gates are the best of the lot. The best thing Carol Loomis did was to write a fresh introduction to each article, providing the context to each article and letting us know what had happened since the date the article was published. My recommendation - first read the biographies by Roger Lowenstein and Alice Schroeder and then only read this book.

  11. 5 out of 5

    Sumit

    An excellent and surprising book - much more a trove of stories about the humble, generous, and delightful man than a book about investing, but you certainly learn a thing or two along the way, as well as gain a deep sense of respect for the Oracle of Omaha. It helps that the author is his long-time friend and journalist Carol Loomis; she approaches the story from the human perspective rather than a fawning catalogue of his amazing successes. Still, I finished the book feeling less clever and kn An excellent and surprising book - much more a trove of stories about the humble, generous, and delightful man than a book about investing, but you certainly learn a thing or two along the way, as well as gain a deep sense of respect for the Oracle of Omaha. It helps that the author is his long-time friend and journalist Carol Loomis; she approaches the story from the human perspective rather than a fawning catalogue of his amazing successes. Still, I finished the book feeling less clever and knowledgeable than I did when I started - I couldn't help but see how little I know and how deep Buffett's knowledge runs. It's made me far more interested in fundamental valuation than I had been when I started; next on my list is Benjamin Graham's book. It also makes me wish that I could be a guest at "Uncle Buffett"'s dinner table once a month or two, just to hear more of his wisdom and hear his pithy one-liners.

  12. 5 out of 5

    Santhosh

    This review has been hidden because it contains spoilers. To view it, click here. I picked this book because I am actually inspired by Warren Buffett. Specially when he donated 37 billion dollars. This book did not disappoint me in any way. Ask me about Warren Buffet, i’d recommend 2 books The Warren Buffett’s way and then Tap dancing to work! This book sums up Warren Buffet’s life on how he built his business empire. An excellent and great resource which gives a deep sense of respect for the man himself.This is not a biography of Warren Buffett,This book is actually a compil I picked this book because I am actually inspired by Warren Buffett. Specially when he donated 37 billion dollars. This book did not disappoint me in any way. Ask me about Warren Buffet, i’d recommend 2 books The Warren Buffett’s way and then Tap dancing to work! This book sums up Warren Buffet’s life on how he built his business empire. An excellent and great resource which gives a deep sense of respect for the man himself.This is not a biography of Warren Buffett,This book is actually a compilation of articles which touches on topics such as investment principles, Buffett's life challenges, achievements, work ethics, philanthropy, comments on managements and everything else under the sky that is Buffett related. This is a must read book for anyone who would like to get inspired and touch heights in business.

  13. 5 out of 5

    MissUnderstoodGenius

    Everyone loves Buffett, there is something intriguing about him. I love the wisdom of Warren Buffett and was really looking forward to this book, however it is nothing but tidbits and random bits and pieces of articles written about him (and a few by him) over the last 46 years - organized in chronological order of appearance. I thought I would read more about why Buffett is 'Tap Dancing to Work' but this book is without any real theme or greater meaning to it. So at times the book didn't hang t Everyone loves Buffett, there is something intriguing about him. I love the wisdom of Warren Buffett and was really looking forward to this book, however it is nothing but tidbits and random bits and pieces of articles written about him (and a few by him) over the last 46 years - organized in chronological order of appearance. I thought I would read more about why Buffett is 'Tap Dancing to Work' but this book is without any real theme or greater meaning to it. So at times the book didn't hang together for me. Would I recommend it? Perhaps if you've never read anything about the greatest investor of all time you would enjoy this book. Try "The Snowball" or read all of Buffett's philosophical writing in Berkshire's annual reports.

  14. 5 out of 5

    George Nassef

    Ok again, I picked this book because it was listed elsewhere as one of the top 25 Book to read by Warren Buffet. Now, when one of the most successful (financial, family, humanity) man in the world recommends just 25 books out of hundreds, you read it silly!! It does not disappoint. Many interviews and pearls of wisdom are here. If you wish to save money for retirement, invest or just not make bad investment decisions, I’d recommend it. It’s as simple to follow as a law of physics. Gravity exists Ok again, I picked this book because it was listed elsewhere as one of the top 25 Book to read by Warren Buffet. Now, when one of the most successful (financial, family, humanity) man in the world recommends just 25 books out of hundreds, you read it silly!! It does not disappoint. Many interviews and pearls of wisdom are here. If you wish to save money for retirement, invest or just not make bad investment decisions, I’d recommend it. It’s as simple to follow as a law of physics. Gravity exists. His reasons and plans for downturns, black swans, insurance events and our future in general are insightful. Bill Gates, of whom I have never been a fan, redeems himself with his statements about his foundation. And Buffets participation. Great book.

  15. 4 out of 5

    Mimi

    You know how you have an annual report from your 401K sitting around and you find yourself browsing through it when munching on a bowl of cereal? Somehow, someone thought that publishing those articles in the annual reports and Fortune Magazine written by or about Warren Buffet would be a good idea. I definitely disagree, the only marginally interesting parts were the glimpses of his personal life (hey, did you know his birthday is the day before mine?), and there aren't nearly enough to make th You know how you have an annual report from your 401K sitting around and you find yourself browsing through it when munching on a bowl of cereal? Somehow, someone thought that publishing those articles in the annual reports and Fortune Magazine written by or about Warren Buffet would be a good idea. I definitely disagree, the only marginally interesting parts were the glimpses of his personal life (hey, did you know his birthday is the day before mine?), and there aren't nearly enough to make this a recommended book.

  16. 4 out of 5

    Jenny Baker

    This is a compilation of Fortune magazine articles. It has some nice golden nuggets in some of the articles, but you won't feel the need to read it cover to cover. It's an interesting read, although I'm not sure that it's the best place to start if you're looking to learn about Warren Buffett. After reading this, I will be reading Security Analysis and anything else written by Benjamin Graham. This is a compilation of Fortune magazine articles. It has some nice golden nuggets in some of the articles, but you won't feel the need to read it cover to cover. It's an interesting read, although I'm not sure that it's the best place to start if you're looking to learn about Warren Buffett. After reading this, I will be reading Security Analysis and anything else written by Benjamin Graham.

  17. 4 out of 5

    InvestingByTheBooks.com

    Last month, one of the most influential business journalists of our time decided it was time to hang up the pen. Carol J. Loomis, the longest-tenured journalist ever at Fortune Magazine (60 years!) was recently described as the business writer combination of Cal Ripken Jr (durability and integrity) and Michael Jordan (megastar and superior ability). So it seems apt to take this opportunity to review her 2012 book Tap Dancing to Work – Fortune’s collective pieces on Warren Buffett. One could say Last month, one of the most influential business journalists of our time decided it was time to hang up the pen. Carol J. Loomis, the longest-tenured journalist ever at Fortune Magazine (60 years!) was recently described as the business writer combination of Cal Ripken Jr (durability and integrity) and Michael Jordan (megastar and superior ability). So it seems apt to take this opportunity to review her 2012 book Tap Dancing to Work – Fortune’s collective pieces on Warren Buffett. One could say the book is the most personal account of the journey from Buffet (sic) to uncle Warren, consisting of previously written material, in this case articles about and by Buffett in Fortune, spanning 46 years. It is utterly striking how most things of contemporary fascination have been written about before; buy-backs, the wonders of compounding, peak margins, ethical behavior, central bank policies... “The market has not become more rational over time, it has become more followed”. Aside from the marvelous sweep of business history that is presented, what four decades of judgments and predictions – through the mind of one of the greatest business thinkers ever – give you is a stark reminder of the saying that it is better to be approximately right rather than precisely wrong. One pertinent example of this is the 1977 article by Buffett about the impacts of inflation for equity investors. It was masterfully penned, well argued in its bearishness and complexity-made-easy over 12 full pages - and also dead wrong. Inflation was not here to stay. Tax rates did fall from the high 40s. And ROEs certainly did not get stuck at 12 percent. As this was in 1977, the equity world in general and Berkshire-holders in particular are likely pleased that the gloomy Mr. Buffett didn’t follow through on his own advice, but kept being almost fully invested, as he did after disclosing the Buffett Partnership in 1969, contrary to his advice at the time to buy municipal bonds. Conclusion? You can take the equity market out of the stock picker but you cannot take the stock picker out of the equity market. The watershed article of them all is in my mind the 1988 profile of Buffett (The Inside Story of Warren Buffett). He was obviously known by that time, but his recognition among the general public brutally lagged his impact and achievements. Up until then, Loomis had been friends with Buffett for two decades, a BRK shareholder for almost as long and pro-bono editor of his shareholder letter. Hence, she had at her own behest taken a back-seat in Fortune’s coverage of Buffett, suggesting stories but assigning them to other reporters. However, that all changed with this piece, where the first full profile of Warren E. Buffett was penned. It also brought forward the so-far neglected topics of Buffett the businessman and the huge influence of Charlie Munger. Rather surprisingly, Loomis omits this piece on her own list of her best articles. Tap Dancing to Work is simply organized in chronological order of appearance, with the first piece being the 1966 article about Alfred Winslow Jones, where Buffett was mentioned. And it couldn’t be any other way, as the power of half a century of thoughts should not be interrupted by any other format. The added comments by Loomis at the beginning of most of the stories bring valuable context and benefit of hindsight. So what are the negatives? Well, the usual suspects. Stitching together over 40 individual pieces seldom make for a great quilt. And after libraries written on Buffett, things that were revolutionary when they appeared are now over-chewed. The elephant in the room of course, is why Loomis did not write Snowball. As they had talked for decades about collaborating on a biography and being “Buffett’s Boswell”, she must have been asked at the time. Perhaps Mr. Buffett himself would have been more pleased had certain parts of Snowball been left out – which surely Carol Loomis would have done – but for the rest of the world it only added to the fascinating personality of our time’s greatest investor and teacher. Some of that shines through in Tap Dancing, but the originality of the pieces are now merely a great history lesson.

  18. 5 out of 5

    Donovan Aris-Dumas

    Tap Dancing to Work: Warren Buffett on Practically Everything, 1966-2012 Tap Dancing to Work: Warren Buffett on Practically Everything, 1966-2012 by Carol J. Loomis is a biography of the legendary investor Warren Buffett. This book contains articles written about Warren Buffett and written by Warren Buffett. The book talks about the struggles of the being an investor and other off topics struggles like how much money he should leave to his kids. He goes into some of his personal/childhood life f Tap Dancing to Work: Warren Buffett on Practically Everything, 1966-2012 Tap Dancing to Work: Warren Buffett on Practically Everything, 1966-2012 by Carol J. Loomis is a biography of the legendary investor Warren Buffett. This book contains articles written about Warren Buffett and written by Warren Buffett. The book talks about the struggles of the being an investor and other off topics struggles like how much money he should leave to his kids. He goes into some of his personal/childhood life for example on page 67 they talk about Warren's first stock he bought which was when he was 11 and how he once tried to run away. Buffett speaks of him being turned down from Harvard and saying it was one of the greatest things that happened . They also talk about Warren Buffett’s company: Berkshire and Hathaway. I personally thought the book was magnificent and very informational. The authors keeps you engaged with unknown, interesting, fun facts about Warren Buffett and his decisions in life. I think this book is pretty difficult for 8th graders because of the stock vocabulary that they use but other then that it is a really good book. There was not a set theme because the book was written by multiple different authors writing about different things happening with or about Warren Buffett. The strengths of the books is that it contains a lot of articles written by Warren Buffett that have good advice on money and stocks.

  19. 4 out of 5

    Zach Van Tol

    I don’t think I am passionate enough about the stock market or care enough about Warren Buffett to thoroughly enjoy this book. Overall, the story could’ve been condensed and gotten the same lessons/advice across. I’m pretty sure I heard about this book from one of Bill Gates’ “top books to read” list... little did I know that he was talked about so much in the book and that he is such a good friend of Buffett’s. With that being said, there are still some good takeaways like not living life looki I don’t think I am passionate enough about the stock market or care enough about Warren Buffett to thoroughly enjoy this book. Overall, the story could’ve been condensed and gotten the same lessons/advice across. I’m pretty sure I heard about this book from one of Bill Gates’ “top books to read” list... little did I know that he was talked about so much in the book and that he is such a good friend of Buffett’s. With that being said, there are still some good takeaways like not living life looking in the rearview mirror, as well as some stories and inside accounts of Buffet and Gates‘s life. It seemed very out of touch at points downplaying the advantages and privileges that both men enjoyed as they worked to the top (There is substantial talk about philanthropy and the morality of inherited wealth, which was a welcomed sight). On a final note, I do not recommend listening to the audiobook version. The author had to mention her initials or name after every single story or journal article or newspaper entry that she reads ... so if you don’t want to have Carol Loomis ingrained in your brain by the end of the book, definitely get a paper copy.

  20. 4 out of 5

    Alex Carrasco

    Buffett has the outstanding ability of transforming difficult notions on the market and business into crystal clear concepts using metaphors and intuitive analogies. If you want to understand Buffett and, specifically, his general approach to business and investing, this is your book. For an amateur investor like myself some of the passages were difficult to read due to the business lingo, but provided great insights when I put my "study hat" on and tried to grasp the concepts. The format of the Buffett has the outstanding ability of transforming difficult notions on the market and business into crystal clear concepts using metaphors and intuitive analogies. If you want to understand Buffett and, specifically, his general approach to business and investing, this is your book. For an amateur investor like myself some of the passages were difficult to read due to the business lingo, but provided great insights when I put my "study hat" on and tried to grasp the concepts. The format of the book, through Fortune Magazine articles, can be tedious at times, especially because it is quite repetitive (I don't know how many times I have read the phrase "Carol Loomis is a long-time friend of Buffett's..."), some editing to reduce repetition would have greatly helped the book. This also leads to what I found to be some uninteresting passages, like the last 5 or so articles that discuss Warren's philanthropy, the best article of these 5 would have probably sufficed. Overall it is a great read if you are interested in getting a glimpse into the mind of the best investor of our time and grasping what are the fundamental concepts he has applied through his career. The best article of them all, in my opinion, is a conversation between Buffett and Gates that can be read here: https://archive.fortune.com/magazines...

  21. 4 out of 5

    George Benaroya

    How to invest, run a business and reason with others A great recollection of the values and principles of Buffet, all in one book. Key Takeaways On Buying a Business: We prefer large, simple businesses (if they use a lot of technology we won’t understand it), consistent earning power, little debt, management in place (we can't supply it) and an offering price (we don't want to waste time). We will not engage in unfriendly transactions. We can promise complete confidentiality and are able to respon How to invest, run a business and reason with others A great recollection of the values and principles of Buffet, all in one book. Key Takeaways On Buying a Business: We prefer large, simple businesses (if they use a lot of technology we won’t understand it), consistent earning power, little debt, management in place (we can't supply it) and an offering price (we don't want to waste time). We will not engage in unfriendly transactions. We can promise complete confidentiality and are able to respond normally within five minutes. It's better to find a wonderful company at a fair price than a fair company and a wonderful price. Graham will look for companies/bargains which could be bought for two thirds of net working capital On the Markets Stocks are good on the long term. There are only two things you can do wrong: you can buy the wrong ones or you can buy and sell them at the wrong time. And the truth is you never need to sell them. When the value of stocks drops to 70 or 80% of GNP is a good time to buy On Warren’s personality and values “You are neither right nor wrong because people agree with you. You are right because you facts and you reasoning are right”. Darwin used to say that whenever he run into something that contradicted a conclusion he cherished, he wrote it down within the 30 minutes, otherwise his mind would rejected it. Warren will leave his children with enough so that they can do anything, but not so much that they could do nothing Habits are too light to be felt until they are too heavy to be broken. Look at the behaviors that you admire in others and make them your own habits. Work for an organization of people that you admire, because it will turn you on Warren charges his son rent according to his weight because he wants him to lose weight. In New York City, he would go to the same restaurant he has already been to and get just a sandwich because he knows what he's going to get. He likes McDonald's and dislikes large parties and small talk. He don't interact with people he don't like or admire.

  22. 5 out of 5

    Denni George

    Money management skills will increase, decent read. It can be dry to some and repetitive , but general financial intellect will improve. I would recommend anyone who wants to be better money managers in their simple day to day life to pick this book up. You may not be a genius at stocks and debentures but this will instill a sense of discipline when it comes to money. So in the words of warren buffet it's a win win. You learn patterns and thinking's of the sage of Omaha. I don't invest or look i Money management skills will increase, decent read. It can be dry to some and repetitive , but general financial intellect will improve. I would recommend anyone who wants to be better money managers in their simple day to day life to pick this book up. You may not be a genius at stocks and debentures but this will instill a sense of discipline when it comes to money. So in the words of warren buffet it's a win win. You learn patterns and thinking's of the sage of Omaha. I don't invest or look into stocks much , I read this book so I can be a good manager of my own money (of a middle class dude) That's my angle for the book. Since it is a assimilation of articles it gets repetitive after a while. But id recommend giving it a read! :)

  23. 5 out of 5

    Kunal Batra

    Warren Buffett " The God of Stocks" as he's claimed in China is the most formidable proponent of value investing in our era. Carol Loomis has effectively captured his journey of 47 years including his early "hedge fund" days, his big bets and misses, his managerial skills and his take on philanthropy. Buffett has always been a media darling and there was never going to be a dearth of material to write on him. Loomis given her close relationship with Buffett and as an insider in Berkshire Hathaway Warren Buffett " The God of Stocks" as he's claimed in China is the most formidable proponent of value investing in our era. Carol Loomis has effectively captured his journey of 47 years including his early "hedge fund" days, his big bets and misses, his managerial skills and his take on philanthropy. Buffett has always been a media darling and there was never going to be a dearth of material to write on him. Loomis given her close relationship with Buffett and as an insider in Berkshire Hathaway could have given some perspective on what really goes inside the mind of The Oracle of Omaha, his daily approach to work and what are some of the life hacks he's picked up on the way. Overall a good read but I was left wanting for more. I'll probably pick up "The Snowball: Warren Buffett and the Business of Life by Alice Schroeder" sometime to binge on my Buffettism

  24. 5 out of 5

    Shannon

    Very interesting read, just found it repetitive at times because it's a collection of published articles over the decades of his life. So we see a lot of the same facts around Buffett - has three kids, his wife Susan passed away, he's Chairman & Chief Executive of Berkshire Hathaway, and the Buffett Foundation manages his charitable giving. I did like the dynamics between Bill Gates & Buffett and their friendly banter. Seems like Buffett has a soft heart & a good sense of humor. When Obama propo Very interesting read, just found it repetitive at times because it's a collection of published articles over the decades of his life. So we see a lot of the same facts around Buffett - has three kids, his wife Susan passed away, he's Chairman & Chief Executive of Berkshire Hathaway, and the Buffett Foundation manages his charitable giving. I did like the dynamics between Bill Gates & Buffett and their friendly banter. Seems like Buffett has a soft heart & a good sense of humor. When Obama proposed the "Buffett rule" which would "apply a minimum tax rate of 30 percent on individuals making more than one million dollars a year", Buffett joked that he always wanted a tax named after him.

  25. 4 out of 5

    Sothearak Sok

    A great book to begin with. Not only does it provide insight into Warren Buffett’s career and business rules, it brings readers to the rudimental characteristic of American debt and equity markets through the eyes of the Omaha’s great investor. Nonetheless, I should express that the book is not a biography-in its entirety-of Warren Buffett, but the compilation, mostly from Fortune, of events and perceptions that have occurred throughout the business life of this man (until the book publication, o A great book to begin with. Not only does it provide insight into Warren Buffett’s career and business rules, it brings readers to the rudimental characteristic of American debt and equity markets through the eyes of the Omaha’s great investor. Nonetheless, I should express that the book is not a biography-in its entirety-of Warren Buffett, but the compilation, mostly from Fortune, of events and perceptions that have occurred throughout the business life of this man (until the book publication, of course).

  26. 5 out of 5

    Tyler D

    I was going to give this book three stars, but I'm giving it an extra star. The reason: there's really good investing advice for those who are looking for it. Warren seeks out a bargain in the market, namely a stock with a low price to earnings ratio, a business model that's easy to understand, and solid financial footing. This is a big departure from what a lot of finance blogs recommend, but this strategy lead Warren to be the second richest man in the world. Also a very interesting biography. I was going to give this book three stars, but I'm giving it an extra star. The reason: there's really good investing advice for those who are looking for it. Warren seeks out a bargain in the market, namely a stock with a low price to earnings ratio, a business model that's easy to understand, and solid financial footing. This is a big departure from what a lot of finance blogs recommend, but this strategy lead Warren to be the second richest man in the world. Also a very interesting biography.

  27. 5 out of 5

    Christopher Brown

    I have a lot of respect for Warren Buffett and the development of his philanthropic style. He seems to be a fundamentally decent human blessed with a rare skillset and the ability to set aside emotion. The main criticism and the rationale for the 3 star review is that the format (magazine clips) gets to be quite repetitive. Almost every article has Buffett's background, which while helpful for the magazine reader, becomes quite repetitive the 15th article in. I hope Loomis actually writes a focuse I have a lot of respect for Warren Buffett and the development of his philanthropic style. He seems to be a fundamentally decent human blessed with a rare skillset and the ability to set aside emotion. The main criticism and the rationale for the 3 star review is that the format (magazine clips) gets to be quite repetitive. Almost every article has Buffett's background, which while helpful for the magazine reader, becomes quite repetitive the 15th article in. I hope Loomis actually writes a focused biography on Buffett - that would be something I would read.

  28. 5 out of 5

    Masatoshi Nishimura

    I got this book from Bill Gates' recommendation list. Compared to conventional biography, this one is a collection of and about his mini-articles. While it has many writings of Warren Buffet himself, the book felt less impactful. It would have been interesting if Warren Buffet's character was portrayed in a semi-fiction style. Also, for those who want to learn about Warren Buffet, he has a lot of video coverage from CNBC. You can easily look them up on YouTube. I got this book from Bill Gates' recommendation list. Compared to conventional biography, this one is a collection of and about his mini-articles. While it has many writings of Warren Buffet himself, the book felt less impactful. It would have been interesting if Warren Buffet's character was portrayed in a semi-fiction style. Also, for those who want to learn about Warren Buffet, he has a lot of video coverage from CNBC. You can easily look them up on YouTube.

  29. 4 out of 5

    Tommy Two Shoes

    This book is great for Buffett fans. It's not a biography. It doesn't introduce any new insights into Warren Buffett's psyche or his thoughts. What it does do is condense 56 years of Warren Buffett articles and interviews into one book. There are better books for those looking for insights into Buffett's investing methodology and thoughts or for those looking to understand what makes the man tick. This book is great for Buffett fans. It's not a biography. It doesn't introduce any new insights into Warren Buffett's psyche or his thoughts. What it does do is condense 56 years of Warren Buffett articles and interviews into one book. There are better books for those looking for insights into Buffett's investing methodology and thoughts or for those looking to understand what makes the man tick.

  30. 5 out of 5

    Adam

    This would've benefitted from more editing. It just gets unbelievably redundant which takes away from some of what would be an otherwise enjoyable long term look at Buffett. Also the author has been friends with him for 30+ years but offers little in the way of interesting insights beyond what most folks that follow BRK wouldn't already know. Given all that and length of read, I wouldn't recommend This would've benefitted from more editing. It just gets unbelievably redundant which takes away from some of what would be an otherwise enjoyable long term look at Buffett. Also the author has been friends with him for 30+ years but offers little in the way of interesting insights beyond what most folks that follow BRK wouldn't already know. Given all that and length of read, I wouldn't recommend

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