Investment writing divides fairly neatly between work about markets and work about people, and Robert Hagstrom’s contribution to our catalogue lands firmly in the second camp. The Warren Buffett Way takes one individual’s approach to investing and sets out to work out what makes it repeatable.
That is a harder task than it sounds. Writing about a famous investor invites either hagiography or a checklist, and the useful version is the one that explains the reasoning rather than the results. Our edition dates back to the early 2000s, which is a long life on a shelf where fashions turn over quickly.
The audience is the patient investor rather than the trader: someone interested in owning businesses, not in renting share prices.