At the age of 26, Warren Buffett founded Buffett Partnership
Limited, which lasted from 1956 to 1970. During this time he wrote
33 letters to his small but growing group of partners. These
letters chronicle his thoughts, approaches and reflections in the
period immediately prior to his Berkshire Hathaway tenure - one
that saw an unprecedented record of investing success. This early
period was astonishing: in 1968 he beat the Dow by more than 50%.
Because Buffett wanted to ensure that his partners understood his
process, he wrote letters. In them, he sets out what he termed
"ground rules" for investing that remain startlingly relevant today
for every type of investor - from beginners to sophisticated pros.
Warren Buffett's Ground Rules brings together, for the first time,
and with Buffett's permission, the key investment principles and
teachings the letters reveal. Here you will find the basis for
Buffett's contrarian diversification strategy, his almost religious
celebration of compounding interest and his tactics for bettering
market results by at least 10% annually. Quoting extensively and
directly from Buffett, equity research expert Jeremy Miller
introduces us to the timeless advice the letters contain,
demonstrating a set of highly effective investment strategies that
continue to resonate today.