The Snowball: Warren Buffett and the Business of Life Reviews

• The New De Facto Buffett Biography

  
  By A1RD4QVJODH892 on 2008-09-29
  Alice Schroeder has done a wonderful job parsing the incredibly interesting and complex life of one of the world's true, living legends.
  
  This should become the tome to site for all things Buffett. It is thorough, examining his family history, his father's career, and details of his youthful adventures; which in many instances, went well over the moral line he now teaches people to steer away from. The hardships suffered by close family members of the financial, psychological, and personal variety are honestly portrayed through the biography, as are details of the complex relationships he has had with women throughout his life.
  
  For students of business and investment, the book details clearly the growth of his business knowledge early on and the success of his many investment partnerships. Alice details the countless problems he experienced once owning Berkshire Hathaway and the businesses that were later rolled in to create the present Berkshire. The details of his many acquisitions highlight his unique intelligence, as well as the intellect of his contemporaries, who in-fact were first to discover many of the corporate gems he acquired over the years. His collaboration with other investment managers proved vital to his success, contrary to much of what has been said elsewhere. Lastly, flaws are exposed in his investment acumen numerous times with regard to operations of target companies, and his early judgment in management teams. The very fact that he has been so successful, even given these errors, is testament to his unique abilities as a businessman.
  
  The book highlights Buffett's amazing focus and zest for life. His relationships and personal experiences, which have never been exposed in any detail, have led to the unique character of Warren Buffett. His development into a great human being and quest to create something enduring in Berkshire, the Foundations, and his many "students", is wonderfully explained in this thoroughly enjoyable biography.
  
  

• Valuable Insight into an Enigma!

  
  By A22RY8N8CNDF3A on 2008-09-29
  The title of this book refers to Buffett's likening life to a snowball - "the important thing is to find wet snow and a really long hill." Buffett certainly has had that effect with money.
  
  "The Snowball" begins with a Buffett presentation to an elite 1999 group at Sun Valley, suggesting in a humorous manner that the ".com" frenzy was no more than a bubble. Then, its on to learning why his associate Charles Munger (an inseparable partner since 1959) is both the opposite and highly similar to Buffett.
  
  Warren Buffett, we learn comes from a heritage of very thrifty small business owners. His parents initially struggled through the Great Depression, carried initially by grandfather's letting the food bill run at his grocery store, then by the success of his newly opened stock brokerage that focused on conservative investments. Unfortunately, his mother was somewhat unbalanced, directing frequent tirades at Warren and his sister, creating a lifelong need for the approval of women. Calculating the comparative life spans of religious song writers while in church led Warren towards religious skepticism at an early age.
  
  Armed with his father's nostrums and examples, his early business experiences (selling gum, pop, magazines, refurbished golf balls, delivering papers) and stock investment (sold too early, losing most of his potential profit), learning that he didn't like physical work (helping his father and grandfather), an early meeting with the head of Goldman Sachs (Buffett just pumped $5 billion into the firm), and knowledge from Benjamin Graham at Columbia Business School (Harvard turned him down), he went on to become the richest man in the world (had $5,000 by the time he finished high school - equivalent to $53,000 today) in a series of interesting stories within "The Snowball."
  
  Buffett learned a number of important lessons en route to becoming the richest man in the world. 1)Commitments are so sacred that they should be rare; allies are important; grandstanding rarely gets anything done. 2)Customer loyalty is valuable (bought a gas station across from one with established clientele - never did well). 3)GEICO had a sustainable competitive model - lowest costs, protected by limiting clientele to government workers (more likely to be responsible), ability to invest funds prior to use. 4)Looking at management, ability to maintain sales growth (Charlie Munger) are important in addition to financial data emphasis (Benjamin Graham). (This was an important change because the number of statistical bargains had shrunk to virtually nil and tended to be small companies which did not work when large sums of money were involved.) 5)Public often overreacted - eg. American Express hit by Kennedy Assassination + DeAngelis soybean scandal at same time = good opportunity. 6)Diversification was not a good thing, as long as investment analysis had a high probability of correctness and low probability of drastic change. 7)Corollary of #6 was ruling out investing in complex technology or human problems (eg. strike, layoffs, plant closings).
  
  

• Awesom

  
  By A2M1CG79435HE9 on 2008-09-29
  I've been up all morning/night reading this book. It is probably one of the best books ever written. I like how Alice shows every side of Warren Buffet- and Warren Buffet allows her to embrace his human side- which just goes to further show his genius. Alice has completed a feat that probably makes her one of the top biographers in the world and eligible of any award. What she has done is nearly as impressive as what Warren has done.
  
  Clayton Williams
  18 Yrs Old
  
  

• Gem, Jewel and Masterpiece!

  
  By AFO5YBGL7WWGA on 2008-10-01
  Hi, My Name is Chong Beng Lim. I am from Malaysia. I have just bought "The Snowball" from the Kinokuniya Bookstore on 29 September 2008. Well, I bought two of them, one I gave it to another good friend of mine.
  
  This review is a tribute to Mr. Buffett for willing to share his secrets with the rest of the world. My great compliments to Ms. Alice Schroeder for doing such a great job. The book is really a gem, a jewel, a masterpiece! I am honoured and privileged to read it.I fervently believe that by reading this book it will instill the life values of Mr.Buffett in every readers!
  
  I have just read about 2 chapters. The reason I am writing this review is that while I was reading this book, I kept shouting, "Gosh! Gosh!" This book is unbelievably incredible! Even two chapters, I feel like I have got my money back!
  
  In fact, I am reading three books: Hot, Fat and Crowded by Thomas L. Friedman; The Snowball; The Christmas Carol by Charles Dickens. I couldn't help but get hooked by this book as it contains a wealth of valuable advice, a profusion of Warren's Secrets and a breathtaking view of Warren's philosophy.
  
  I have taken down a few key tips from this book:
  i)honesty and rationality
  ii) failures contribute to rules of success
  iii)We cannot use our past experiences to determine the future
  iv) The airlines and the auto industry have not contributed to the wellbeing of investors
  v)humility
  vi)carry your own luggage
  vii)respect your father (Warren hangs his father portrait at his office as a permanent feature)
  
  There are some more as the notes are not with me now.
  
  The kaleidoscope of photos of Buffett also gives me an instant snapshot of the life of Mr. Buffett. It was amusing and yet unbelievable when you saw Warren Buffett shaking hand with the little girl, Ariel Hsing who crushed him in a pingpong match on his 75th Birthday!
  
  Remember, you have to pay $2.1 million to have lunch with him! You can't even learn everything from a lunch with him. Thus, I am absolutely convinced that by reading this book, you have earned more than $10 million dollars...as it enriches your mind constantly, it expands your horizons literally and finally when you have read this Snowball, you will grow from a tiny snowball to a gigantic snowball that will shake and move the world!
  
  And, your life will never be the same!
  
  Bon appetit!
  Chong Beng Lim
  
  

• A Lesson Not To Be Missed in Difficult Times

  
  By A24BEMERMTXJRY on 2008-09-29
  Warren Buffett is one of the most important and successful people in the business world. His life is a story of success - not a single lucky hit but a career going from one victory to another. One would be very irrational to miss an opportunity to have a glimpse of what made him the person he is and what made his success so huge. This book offers more then just a glimpse - it is a full scale portrait of the man.
  Alice Schroeder has done a marvelous job putting together this biography - it is insightful and thought-provoking. People pay hundreds of thousands of dollars for the honour of lunching with Buffett - you can get to know him (inasmuch as he was ready to reveal himself, obviously) for much less so why not give it a try?
  
  
• The closest we'll get to an autobiography
  By A4FJLQTOF1HEO on 2008-10-05
  Unless you've been living under a rock, you know that Warren Buffett is the richest person in the world and worth more than $60 billion dollars. Often called the "Oracle of Omaha" for his uncanny ability to pick investments, Mr. Buffett has never expounded on his life in a book, nor has he offered much access to folks writing about him.
  
  Until now.
  
  Somehow, the author of this book (an analyst form the insurance industry who has worked with Buffett for the last 10 years) was able to get him to cough up the goods (almost 1,000 pages worth!). In the book, you'll learn how life experience shaped this thrifty genius and made him into the greatest player of the market the world has ever known.
  
  I saw that someone here suggested The Emotional Intelligence Quick Book and thought that was a strange (albeit intriguing) connection to Snowball. I bit and bought both books and really liked learning about emotional intelligence. I can see how it's a skill set and investor needs to have, and it's been especially helpful in dealing with the mess the markets are in and keeping my wits about me.
  
  
  
  
• A meandering snowball
  By A2XS38OW91YF9Z on 2008-10-07
  Simply put...the book needs an editor's pencil. There are too many twists and turns in the search for the real Warren Buffett.
  
  
• requires more editing
  By A1Z7RUOZ7WA9VJ on 2008-10-25
  This review is to balance off the many positive reviews in Amazon:
  (and to apply an expression from Berkshire Hathaway's brilliant Vice Chairman, Charlie Munger:
  "Invert, always invert".)
  
  ~
  point #1 on Alice Schroeder's Buffett biography:
  When someone asked "what factor did people feel was the most important in getting to where they`d gotten in life" (sic), both Warren Buffett and Bill Gates answered: "focus" (p. 623)
  
  Unfortunately, focus is missing in Schroeder's wordy, rambling 960 page biography. A quarter to a third of the content could have been pruned. This book could have used a few more months of rewriting, with more disciplined editing. Schroeder's book was at least five years in the making, yet With the world financial maelstrom upon us now, one wonders its September 2008 release is merely opportunistic publishing.
  
  point #2: To use a Buffett expression: Schroeder is beyond her "circle of competence" . Schroeder has a finance background. When reading this book, We see can tell she does not have any past experience on writing an extensive in-depth personal biography.
  
  ~
  In contrast, I would recommend you also read the Buffett biography written by Roger Lowenstein. Although published in 1995, it has a professional writer`s mark of clarity. Regrettably, Buffett gave Lowenstein a chilly reception after its publication. Lowenstein may have unfortunately become shut out from accessing Buffett for a subsequent revision.
  
  In summary, Schroeder`s biography is worth reading, but you should expect to exert much patience and persistence when plowing through it. You will find nuggets in there, if you mentally block out certain sections and read between the lines.
  
  
• To a great extent, his life has been business...and business has been his life
  By A26JGAM6GZMM4V on 2008-11-17
  
  I recently re-read Roger Lowenstein's biography, Buffett: The Making of an American Capitalist (first published in 1995 and now re-issued with a new Afterword), and then read this more recent one by Alice Schroeder. Both are first-rate. Which to select if reading only one? That depends on how much you wish to know about Buffett's personal life, including his relations with various family members, and how curious you are about his personal hang-ups, peculiarities, eccentricities, fetishes, etc. If you can do without any of that, Roger Lowenstein's biography is the one to read. I also highly recommend the recently published Second Edition of The Essays of Warren Buffet: Lessons for Corporate America, with content selected, arranged, and introduced by Lawrence Cunningham.
  
  The heft of Schroeder's biography may discourage some people from obtaining a copy. To them I presume to suggest that they not be deterred by that factor. Schroeder has a lively, often entertaining writing style that drives the narrative through just about every period and (yes) interlude of Warren Buffett's life and career thus far. There is much more information provided than most readers either need or desire. However, she had unprecedented access not only to Buffett but to just about everyone else with whom he is (or once was) associated as well as to previously inaccessible research resources. It is possible but highly unlikely that anyone else will write a more comprehensive biography than Schroeder has, at least for the next several years, if not decades. Also, her opinion of Buffett seems to me to be balanced and circumspect. No doubt he wishes that certain details about his life and career were not included. However, there has been no indication from him or those authorized to represent him that any of the material in this biography (however unflattering) is either inaccurate or unfair. Both halos and warts are included.
  
  Others have shared their reasons for holding this book in high regard. Here are two of mine. First, although I had already read various Buffett's chairman's letters that first appeared in a series of Berkshire Hathaway's annual reports, I did not understand (nor could I have understood) the context for observations he shared, especially his comments about especially important 12-month periods throughout BRK's history. Schroeder provides the context or frame-of-reference I needed but previously lacked. For example, whereas in previous letters, Buffett merely offered brief updates on how each BRK company was doing, in 1978 he began to share his thoughts about major business topics such as performance measurement for management and why short-term earnings were a poor criterion for investment decisions. With the help of Carol Loomis, especially since 1977, his chairman's letters "had grown more personal and entertaining by the year; they amounted to crash courses in business, written in clear language that ranged from biblical quotations to references to Alice in Wonderland, and princesses kissing toads." As Schroeder explains, these gradual but significant changes of subject and tone reflect changes in Buffett's personal life as he became more reflective about business principles and more appreciative of personal relationships. His children were growing up and departing the "nest" in Omaha. His wife Susie decided to relocate to San Francisco. Meanwhile, his personal net worth continued to increase substantially. His national and then international recognition also increased. The "Oracle of Omaha" had finally become sufficiently confident of himself to reveal to others "a sense of him as a man."
  
  I also appreciate how carefully Schroeder develops several separate but related themes that help her reader to manage the wealth of information she provides. The biography's title suggests one of these themes: the "snowball" effect that compounded interest can have. From childhood when he began to sell packs of gum (but not single sticks) and bottles of soda, and a money changer was his favorite toy, Buffett was fascinated by the way that numbers "exploded as they grew at a constant rate over time was how a small sum could be turned into a fortune. He could picture the numbers compounding as vividly as the way a snowball grew when he rolled it across the lawn. Warren began to think about it a different way. Compounding married the present to the future. If a dollar today was going to be worth ten some years from now, then in his mind the two were the same." Early in life, Buffett avoided making any purchases unless they were almost certain to generate compound interest. This theme is central to understanding Buffett's investment principles and to his own leadership of BRK. It also helps to explain why he could become physically ill when an investment cost others the funds they had entrusted to his care. Other themes include his determination to simplify his life to the extent he could (e.g. eating hamburgers and wearing threadbare sweaters, minimizing participation in family activities) so that he could concentrate almost entirely on business matters; his dependence on a series of women, beginning with his mother and two sisters (especially Doris) that continued with his first wife Susie (and their daughter "Susie Jr.") and then companion Astrid Menks whom he married in 2006; and his passion for helping others to understand the business principles to which he has been committed since childhood.
  
  There is one other theme of special interest and importance to me: over the years, how Buffett has interacted with various associates, notably with Jerome Newman and Benjamin Graham, Sandy Gottesman, Charlie Munger, Bill Ruane, Katherine Graham, and Bill Gates. By all accounts, Buffett is a superb business associate once he agrees to become involved. He cares deeply about each relationship, does whatever may be necessary to protect and defend the best interests of his associates, and is extraordinarily generous with material rewards as well as recognition. Here is an especially revealing excerpt from Cunningham's Introduction to The Essays of Warren Buffett: "The CEOs at Berkshire's operating companies enjoy a unique position in corporate America. They are given a simple set of commands: to run the business as if (1) they are its sole owner, (2) it is the only asset they hold, and (3) they can never sell or merge it for one hundred years." These three "commands" are wholly consistent with what Lawrence explains earlier in the same Introduction: "The central theme uniting Buffett's lucid essays is that the principles of fundamental business analysis, first formulated by his teachers Ben Graham and David Dodd, should guide investment practice. Linked to that theme are management principles that define the proper role of corporate managers as the stewards of investment capital and the proper role of shareholders as the suppliers and owners of capital. Radiating from these main themes are practical and sensible lessons on the entire range of important business issues, from accounting to mergers to valuation." Those who shared Buffett's same core values of honesty and integrity, and who are also committed to the same basic principles, cherish their relationship with him.
  
  To me, Alice Schroeder's rigorous and eloquent analysis of this theme of mutually productive and beneficial collaboration is her single greatest achievement among many in this definitive biography of one of the most important and yet least understood business leaders in recent years. Bravo!
  
  
• The best look at what makes the man tick
  By AAVDPR8V5AVME on 2008-10-01
  I'm sure everyone reads about Warren Buffet because he is an interesting man, but, if you're like me, you read about him because you also want to know how he thinks and the strategies he used to create his wealth.
  
  If that's what you're into, understanding how he was able to achieve such phenomenal wealth, then this is the book for you. Quite fascinating to see how he got that big old snowball rolling and how he keeps it rolling in any economic conditions.
  
  You learn more than stock-buying strategies from this book. You learn what makes this man tick, from an overbearing mother to an ability to make the complex seem simple and predictable.
  
  A must read for today's stock market!
  
  I came across two other books this week that I devoured and I recommend because I think they are quite relevant these days, as they address the impulsivity that Warren Buffett won't succumb to and so many do: The Emotional Intelligence Quick Book and The Impulse Factor: Why Some of Us Play It Safe and Others Risk It All
  
  
• This will be the book that changes lives
  By AYFFXJPUA2A0Y on 2008-10-01
  Like many, I have studied Warren Buffett for countless hours, learning about how his simple ideas served him so well in business. I am only on page 210 of this amazing book and I will tell you that this book will change many lives for the better.
  
  Each one of us has a story to tell, though most of us will never find an audience. Life is complicated, and there is much adversity and potential hardship along the way. In the end, there are universal truths and there are personal truths. Warren Buffett found a universal truth in business, and this allowed him to deal with the many fascinating variables of his life that involved family and other cicumstances that were personal to him.
  
  The importance of having success in your career cannot be overstated. We all have to deal with many emotions through life, and if you enjoy your daily routine you will have a much greater chance of being able to put a positive twist on the numerous other areas, which can so easily spin out of control into results that lead to an unhappy life.
  
  Amazing read, and I would actually pay those who are close to me to read it. I saw myself in many ways, and I have a feeling that a lot of people will see bits and pieces of themselves. This is a groundbreaker.
  
  
• ALICE IN BUFFETTLAND
  By ALRZYLWLZ631P on 2008-09-30
  Alice Schroeder is an accountant more than a writer but this book and its pattern flow very well. Buffett selected her more for her financial thinking than anything else I suspect. Schroeder tries to tell it like it is. I imagine Buffett felt the heat on reading some of it. Read the footnotes too.
  It is the story of someone who got in the groove of making money and stayed there 24/7. The pull of the story is to see the interactions between Buffett and his relatives and other people. It is a very candid book.
  WEB is a real hero by the end of the book. Maybe he became one as he got older. So it seems. Alice is egging him on to go from hero to sainthood at the end of the book. However, books about people are like icebergs, you only see the little bit above the surface. Good job Alice.
  Buy the book at a bargain price.
  I hear that when Charlie Munger wanted to read this book he tried to borrow it from the library. However, it was out on loan to Warren Buffett at the time.
  
  
• Better than "Buffett: The Making of an American Capitalist"
  By A2Z79NJW2QXSG5 on 2008-10-02
  In 1995, Roger Lowenstein wrote what I thought was an excellent biography about Warren Buffett entitled "Buffett: The Making of an American Capitalist." I really enjoy Roger's writing style, and I used to enjoy his monthly column in "Smart Money" magazine (before my subscription lapsed), but this book is so much better than Lowenstein's book. Of course, it has the benefit of being written 13 years after Lowenstein's, but unlike his book, "Snowball" was written with Buffett's full cooperation and approval. Alice Schroeder had access to all of Warren Buffett's files, and she did thousands of hours of interviews over the last five years with both Warren, and the people in his life. She missed her initial deadline for the publication of the book, and as one person told her, take the time to make it perfect. I'm glad she did, because there is no doubt in my mind that she has written a masterpiece.
  
  The detail in this book is incredible, and the stories are so rich; it is truly a great read. All of the questions I had wondered about in the Lowenstein's book have been answered in "Snowball." We learn much more about Mr. Buffett's early life, and we come away with a lot of insight into the reasons why he is who he is. After reading it, I still have the highest respect for Mr. Buffett, and Berkshire Hathaway; otherwise I wouldn't be a stockholder. My highest recommendation!
  
  One minor complaint: At 960 pages and 3.5 pounds, it is quite a task to support it while reading, especially if you, like me, keep referring back to the chapter notes at the end of the book. Perhaps this is the book for Kindle :)
  
  
• Better than Lowenstein's biography of Buffett
  By AVEAAOZLG7YNS on 2008-10-03
  I liked this Buffett biography much better than the lowenstein version because in this one the author states that Buffett said she should show the 'unflattering' view of him...well there are some good tidbits in this book such as Buffett getting C's and D's in Junior High, being a voracious shoplifter of Sear's sporting goods...Eddie Lambert should send him a bill plus interest. This Buffett seems much more human and down to earth than Lowenstein's version.
  
  
• A must read on Buffett
  By A3MKEJS7RR3J9G on 2008-10-02
  If you are even mildly curious about Warren Buffett you'll get a real kick out of this book. I'm a bit of a Buffett nut and I found out a lot of things in this one that I hadn't seen elsewhere. I won't give too many of them away here. You'll have to read for yourself :)
  
  
• The authorized biography
  By AT3QFQ9F6G9VD on 2008-10-09
  This is not only the best book on Warren Buffett (there are over 30) it is one of the best biographies I've ever read. Some reviewers are complaining about the girth of the book and the lengthy stories that are major chapters of Buffett's life. I am a huge Buffett fan and the more info and insight I can get the better! Any true Buffett fan will appreciate the detail and full examination of different times in his life.
  
  What this book explains that "Buffett: Making of an American Capitalist" doesn't is the rational behind many Buffett investments, especially the ones early in his career. Buffett would find "cigar butts" and usually build a controlling interest. For example, he would look at companies like 21st Century Holding today (TCHC). It is a $35 million micro-cap selling at 30% of bookvalue that consists almost entirely of cash and bonds. It also has a 17% dividend. However, it will be overlook and undervalued because big investors, like Buffett today, have too much money to invest in these small companies. These stocks are where Buffett built his investment experience and he got 31% annual returns for his investment partners during the late 1950s and 1960s.
  
  Later, with the influence of Munger, he would invest in companies with competitive advantages, but still sold at prices that gave him a significant margin of safety (American Express, Washington Post, etc.). He even started paying "fair" prices for great companies like Coca-Cola that had great growth potential.
  
  In this book you will learn that Warren Buffett is one of the most selective investors in the world. He will not buy something unless the value is screaming at him. His discipline to spend most of his day reading a plethora of periodicals and financial reports is what made him successful early in his career. Buffett shows hard work, a good investment philosophy, and discipline pays off--big time.
  
  
• A plodding tome...but it's WARREN BUFFETT!!
  By A4TX7D344SPU8 on 2008-10-27
  I recommend the Roger Lowenstein biography over this one, mainly because it covers everything this one does but with a lot less pomp. I envy Alice Schroeder's endless hours firsthand with Warren, but it doesn't seem to have added very much to her book. The analogies, at best, fall flat on their face. She italicizes what he says like a Bible would the word of God. It irritates me and I'm practically an agnostic. She spends an entire chapter building up to something that could have taken a mere paragraph. I don't think she understands pacing very well, but her book is very easy to read and I did come away with cool new tidbits about Warren's childhood and adulthood habits, stories, relationships... If you start with Lowenstein, you'll be hard pressed to finish Schroeder. It just doesn't seem worth it.
  
  
• An Essential Book for Our Times
  By A1T4M91WRZP7WN on 2008-10-21
  Gandhi stated," My life is my message." Warren Buffet's life is his message.
  
  This book is a combination of Business 101 and an biography of Buffet. At over 900 pages in length with copious footnotes and endnotes, references and cross references, this book is a page turner, but not an easy read. Like Buffet's life itself I would admonish the reader to not give up, it is worth finishing.
  
  The book opens with a meeting of America's business elite in Sun Valley where Buffet warns in his indirect professorial fashion that the dot.com balloon is about to burst. No one listens, he is criticized. He does not care and he is right.$$$$ in his cash register.
  
  The author Alice Schroeder a business major herself understands the intricacies of things like derivatives,selling short and credit defaults swaps and takes us through events in Buffet's life explaining these things along the way.
  
  While Buffet is among the richest of the rich,he does not live the life of the superrich with mansions and yachts. Schroeder reveals him to us warts and all.The glory of Buffet is not his superhero status but his humanity which grows over his lifetime.
  
  We learn of the deep scars etched into his psyche by his unbalanced vindictive mother and how his wife's unconditional love, helps him develop beyond briliance, "nerd"ness, and obscessive collector into full flower philanthropist and advisor to the political giants.
  
  More than anything else it demonstrates that through trial and tribulations Buffet never relinquished his ethics, honor, honesty and integrity.The good guy can win.
  
  Yet Buffet is far from perfect, ignoring his family to pursue his obscessions, often deeply selfabsorbed and wanting. This makes Buffet more intriguing not less. This book is an essential read for our times. Both to help us understand the world of finance more clearly and so we understand big winners win due to high standards and ethics.
  
  The reason I gave it 4 stars instead of five is that in the rush to press there are obvious editing errors...not consequential but distracting and at times we are left awash in a sea of names and facts that are hard to connect. I also would have liked a few more "drama in real life moments" Buffet's exact words to his children or their exact words, etc.
  
  This book should appeal to business people and nonbusiness people alike. There is much to learn from the professor about business and life.
  
  
• A well-done biography!
  By A3EFCK0HZQPNQI on 2008-10-22
  Anyone who reads this book in the hopes of becoming "the next Warren Buffett" or "the next Bill Gates" needs to realize one thing that became crystal-clear to me while reading this biography.
  
  Bill Gates is a genius. And so is Warren Buffett. In the case of Bill Gates, we're looking at a guy who scored perfect 800s on both SATs. In the case of Warren Buffett, we're looking at a college student who went to the bookstore and bought his textbooks (like all students) and then READ THEM ALL before the first day of classes, with almost perfect recollection of detail.
  
  So, leaving Gates aside, what sort of guy was Warren Buffett? I don't think the author calls him a monomaniac, but he was clearly very close. He cared about almost nothing but making money. His lifestyle was largely to fill every day with work, which for Buffett meant reading financial reports and inhaling them. He was one of the most "absent fathers" in world history.
  
  And, by golly, he wound up with a prodigious pile of money. $30 billion? $60 billion? Who cares, aside from maybe Bill Gates, who re-enters here as Warren Buffett's buddy? I mean to say, unless you work for the government, a billion dollars is a whole lot of money. ONE lousy billion. Imagine being able to borrow a billion dollars for ONE DAY, and lending it out overnight. Well, you do the math. I worked it out as follows: if interest rates were 5% per year, you would receive (I think) 50 million per year. Take that and divide it by 365, and you're left with something like $150,000. (Warren, correct me if I'm wrong!) Not bad for a day's work. And, of course, Warren Buffett never ever setttles for a 5% return.
  
  This book is an interesting read. It MUST be, because I'm already 250 pages into a life which bores me absolutely stiff. I would not be Warren Buffett for all the tea in China, and I'm absolutely sure that he returns the compliment. (That is, he wouldn't be me at any price!)
  
  The key thing to take away from this book, I think, is that we are both right. Buffett spent his life doing what he enjoyed, and so did I. May all readers of this review go forth and do likewise, as long as they harm no one else! :-)
  
  
• The finest biography I have ever read
  By ACA1XD8WF8EL4 on 2008-10-22
  SNOWBALL is first of all, the finest example of biography I have ever read and I am a longtime fan of biography.
  
  Secondly, it should be absolutely required reading for any serious student of finance and business. It is about Warren Buffet, but it is also about stewardship and integrity, two qualities that were missing in the con men and women responsible for the recent financial bubble that has now collapsed with such catastrophic results.
  
  SNOWBALL 900 pages may at first seem intimidating but when you start it you will find it to be a "page turner" and when you get to the end, it is all too soon.
  
  I was amazed to discover how Buffet, who is remarkably self-disclosing and self-effacing, inherited his life-long opposition to war and militarism from his father, Howard Buffett, who was an absolutely fearless, Republican, "isolationist" (term used by FDR to discredit peace movement activists). Following in his father's footsteps, Warren Buffett was an early, vigorous opponent of the U.S. occupation of Vietnam but unlike his father, Warren Buffett has also been a longtime vigorous supporter of civil rights, and a liberal Democrat!
  
  Reflecting his strong sense of stewardship, and utilizing his knowledge of finance, Buffett exposed what was probably the prototype of crooked TV egangelism, namely Boystown, an Omaha institution made famous by Spencer Tracy and Newt Gingrich (remember him?), which was in fact a a multi-million dollar fraud perpetrated by the Catholic church while exploiting homeless boys to whom it offered a third rate education.
  
  Buffett has been a vigorous opponent of anti-semitism. He skillfully ended a ban on Gentiles as members of Omaha's Jewish country club, so he could then end a ban on Jewish members at Omaha's leading Gentle country club, after he himself, ironically, personally experienced the results of anti-semitic discrimination on Wall Street.
  
  
• Extremely well-written, most informative and terrifically interesting.
  By A1DJ9FOEOA0WF1 on 2008-10-24
  I first bought this book for my Kindle and loved reading it. One of the best I've ever read about this amazing man, his interesting family, and his world view about investing.
  
  I'm so glad Mr. Buffett encouraged the author, Alice Schroeder, to write full time. She is an excellent writer. While the book does include a number of investment terms that I was unfamiliar with, a careful reading of the author's explanations helped me learn more about the art? and science? of investing. I took the time to copy most of the information about the technical terms into my commonplace book for future reference, and in these days of depressing economic news I find I refer to them often.
  
  The psychological anecdotes about the young Warren Buffett also kept me engrossed and helped explain his fanaticism over anything to do with numbers. One can understand how and why this admirable individual became such a wealthy man.
  
  Like the hardcopy, the Kindle edition does include the photographs. Oh, and I enjoyed this book so much that I subsequently purchased the hardcopy as well. Amazon's going to love me.
  
  Finally, I'm not into investing, but I am into learning how our economy got so screwed up: though I doubt this was the author's original intention, this book helps point out how Wall St. greed, among many other factors, has messed up so many lives in our country and across the globe. What a pity.
  
  I definitely recommend this book. It's a great read!
  
  
• Intriguing biography
  By A2559R94SW9U68 on 2008-10-25
  Fascinating, introspective look for Buffett fan's. Certainly one of the more brilliant minds who've come our way, ala Vanderbilt for his visionary approach to investing. I was expecting the book to more about his investment strategies, but nevertheless, his life story alone is worth reading.
  
  
• This is the biography WB wanted
  By A371UH8YC4995G on 2008-10-02
  I read that Warren Buffett cooperated for this biography more than any other that's been written on him. It comes across right away. Even if it only revealed small things there would be much to gain, but I can tell you from having read it that you learn a lot about the man. Time to emulate!
  
  
• A surprising look at Warren Buffett
  By A1LPLW58CFGGXC on 2008-10-03
  I liked this book because I (in addition to picking up some of his thinking on investment strategies) discovered the man behind the mountain of cash. He's led an interesting life, to say the least, and it was great that he was willing to open himself up for this book, as he (like everyone) won't be around forever to share.
  
  
• Best book on Mr. Buffet.
  By AUW0072YAFME on 2008-10-12
  This is by far the best biography available on Mr. Buffett. I sincerely recommend it to anyone looking to have a more profound understanding of Mr. Buffett and the evolution of his investment style and life, covering a time period back to his ancesters to this date.
  
  This book is not just reserved for business/investing oriented persons, but they should be encouraged to read it further. In my opinion, anyone can apply the lessons in the book to their own reality.
  
  In a "think it, learn it, do it" way of thinking, this book and all available info on Mr. Buffett, his mentors, transcripts,etc; covers the "learn it" part. The rest of course is up to you.
  
  As a final remark, I think that if investing is your business, happen to read this book thorughly and have done your homework by studiying the complete version of all his annual shareholders letters and reports (even the ones of the Graham-Newman partnership, Ben Graham himself, Charles Munger's mind set, Phil Fisher's approach and several other documents about "value-growth investing"), you belong to your game and for sure, you'll be pretty close to know Mr. Buffett's way of thinking when it comes to money making and life as well; and of course, you'll end up making profits.
  
  
• Extremely Interesting
  By A2C0H5KBBXOG4N on 2008-10-24
  this was my first audio book purchase, i bought it because i drive 1 hour to work each way, so i figured I would make the best of my time. I found this so captivating that at times, when i had arrived to my destination, i would keep driving so i could hear more of the CD.
  
  
  
  
• Finest insight into the man and his investments
  By A2C0EQNI78F186 on 2008-10-27
  Alice has written a singularly remarkable book: for the first time we have a historical record of Buffett's career with his cooperation as well as the cooperation of those close to him. The book gives Buffett masterful treatment by placing his saga in its appropriate historical context. For students of the world's greatest investor, this is a godsend and adds tremendously to the existing literature. You'll get so much out of this that for the price of the book, you're being paid to read it.
  
  One of the book's best features is the amount of detail it provides on many of Buffett's investments. From a bird's eye view (and from reading the existing histories as well as his letters to investors), you've heard that he bought Washington Post stock and that it turned into a multi-decade multi-bagger for Berkshire. Reality is a lot more complicated than that. Buffett created Kay Graham as an expert capital allocator and had hands-on (literally) involvement with the company. The same is true of GEICO. Buffett's greatest investments, therefore, have been those in which he has invested much more than just his capital.
  
  We also learn that Buffett relied much more than previously thought on his network of friends, and encouraged them to "ride the coattails" of great investors (though not his). Whereas the American Express investment during the salad oil crisis had been explained very simplistically, here we learn that Buffett employed friends to dig up large piles of scuttlebutt and reports on the company before committing capital. And so it goes. Alice provides a very balanced, sometimes skeptical, look at Buffett's life. She's no pushover and holds her own by successfully treating her subject objectively (at least much more than I expected).
  
  Buffett is the world's greatest simplifier: he lives by simple, crisp rules. And in the end, he notes that the purpose of life is to be loved by as many people as possible among those you want to have love you. If you take one lesson from this book, it's that there are two things that even a mountain of cash can't buy: a sterling reputation, and love.
  
  Many anecdotes are poignant, others hilarious, and all are instructive and insightful. At various points I was laughing out loud. The world is much enriched by this history. Is it perfect? No, but neither could it be. Different readers will have different demands. Some won't care about the personal side, and wish the author had provided even more detail on the businesses and investments. But the personal side of this enigmatic personality is essential to an understanding of this puzzle of a man who has, without a doubt, the finest reputation and track record of any juggernaut businessman who ever lived.
  
  If Roger Lowenstein's excellent "The Making of an American Capitalist" is the undergraduate course on Buffett, then this is the master's degree -- masterfully written, researched, thought out, and a valuable gift to Buffett aficionados, admirers, and students of life.
  
  
• Phenomenal Read
  By A1GTQFV184HS8A on 2008-10-28
  An amazing read about Mr. Buffett. Well written and very interesting. Highly recommend for anyone interested in business... especially in these times of needed "value investing".
  
  
• Flop
  By A24XTKEDP972QV on 2008-10-29
  This hagiograpgy shows the fallible, human side of Saint Warren, not in anything that is said in this overlong, unfocused and unedited ramble, but in the fact the Mr. Buffett, who allegedly attached great important to this effort, was unable to pick someone to write an interesting book.
  
  
• The Snowball: Warren Buffet and the Buisness of Life
  By A2E7K6WX8EEO3X on 2008-10-30
  Somewhat disappointed. Much more about family affairs than I was interested to hear and too little about the financial details than I wanted to know.
  
  

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