The essays of Warren Buffett : lessons for corporate America / essays by Warren E. Buffet ; selected, arranged, and introduced by Lawrence A. Cunningham.
Originally published as part of the Cardozo Law Review's special issue on The Essays of Warren Buffett Symposium in 1995. This title originally published in 2001. "CAP"--Spine. Includes bibliographical references and index.
Contents:
Prologue : owner-related business principles -- I. Governance. Full and fair disclosure -- Boards and managers -- The anxieties of business change -- Social compacts -- An owner-based approach to corporate charity -- A principled approach to executive pay -- Risk, reputation and climate change -- Corporate culture -- II. Investing. Farms, real estate and stock -- Mr. Market -- Arbitrage -- Debunking standard dogma -- "Value" investing : a redundancy -- Intelligent investing -- Cigar butts and the institutional imperative -- Life, debt, swoons -- III. Alternatives. Surveying the field -- Junk bonds and the dagger thesis -- Zero-coupon bonds and ski masks -- Preferred stock -- Derivatives -- Foreign currencies and equities -- Home ownership : practice and policy -- Business partnerships -- IV. Common stock. Beating costs with indexing -- Attracting quality shareholders -- Stock splits and the invisible foot -- Berkshire's dual class : thwarting clones -- Buybacks and rationality -- Dividends and capital allocation -- V. Acquisitions. Bad motives and high prices -- Sensible share repurchases versus greenmail -- Leveraged buyouts -- Sound acquisition policies -- On selling one's business -- The buyer of choice -- VI. Valuation. Aesop and inefficient Bush theory -- Intrinsic value, book value, and market price -- Look-through earnings -- Economic versus accounting goodwill -- Owner earnings and the cash flow fallacy -- Option valuation -- VII. Accounting. Satire -- Standard setting -- Audit committees -- ""Adjusted earnings" -- Pension estimates and retiree benefits -- Realization events -- Investments -- VIII. Taxation. Distribution of the corporate tax burden -- Taxation and investment philosophy -- IX. History. The American miracle -- Productivity growth -- Tailwinds --X. Coda. Buffet on Berkshire culture -- Munger on "The Berkshire System" -- Methuselah's estate.
Summary:
The author's annual letters to the stockholders of Berkshire Hathaway are edited to present the main themes regarding business, investing, price, value, corporate governance, and other important topics.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.