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Monday, May 7, 2012

Book Review: Buffett

Book Review: Buffett

The Making of An American Capitalist
Roger Lowenstein

This book was written back in 1995, so it is severely dated. It does, however, give us an idea of what Buffett was like at that time. He may have changed since then.

I used to be able to say I liked almost everything about Buffett. I would use the word “almost” because, since I don’t know him personally, there could have been something I did not like about him. In reading this book, I found out what that was.

I am a Fundamental Christian. By that term, I mean I believe that the Bible is true in every word. I do agree that there are errors in my understanding of the Word. But, God does not make mistakes and where there are translation errors God had a reason for that. I believe that life begins at the split second of conception and that no one, other than God, has the right to end that life, no matter what the reason.

Buffet, as far as this book states, does not believe in God. He is very afraid of dying. Now, I don’t want to die, but I know when I die I will be in heaven. Since Buffett does not have that to look forward to, he has reason to believe that when you die you cease to be.

Buffett is also said to be a large supporter of Planned Parenthood. The book states that Buffett sees donating to Planned Parenthood as an investment in the well-being of the world. The book states that Buffett sees this as a way to prevent over population of the world. If Planned Parenthood’s only ways of preventing over population was to provide sex education as well as to teach abstinence and, barring that, barrier methods to birth control, I would agree with him. However, I believe that God has a reason for every conception. Every life has meaning and every child should have a chance to make their mark on the world.

All of that being said the book is great. Buffett the man has a great sense of business and a great success record. Companies call on him to bail them out when they are in a jam. Buffett studies business models constantly and has an amazing head for business figures.

Buffett sort of compares with Commodore Vanderbilt in that he took an approach to money that was hands-off. When Buffett’s children need to borrow money, he tells them to borrow it from a bank or he has them sign a promissory note and they pay prevailing interest rates, according to the book.

All-in-all, I think this is a good book, well worth reading and a great addition to my library.

Book Review Policy
My policy on book reviews is to give you my honest opinion of the book. From time to time publishers will give me a copy of their book for free for the purpose of me reading the book and writing a review. The publishers understand when they give me the book that I am under no obligation to write a positive review.

If you will look at all my reviews, you will see that there have been occasions when I have written a negative review after having been given a book.

I often provide links to books on Amazon.com where you can purchase books and help support the continued operation of this blog. However, I strongly encourage you to check out your local library. Many libraries now offer electronic borrowing for free.

I am disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 255 
I purchased this book through Friends of the Library. Contact your local library and find out what excellent deals they offer.

The opinions or advice listed in this blog or website should be used as a place to start only. It is not a substitute for the use of a professional.
Please be sure to consult your attorney and/or accountant with any specific questions.
There is no one right answer to any business question that will cover all circumstances.
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