The Winning Investment Habits of Warren Buffett & George Soros: What You Can Learn from the World's Richest Investors. Mark Tier

by Mark Tier

Book Overview

Warren Buffett, Carl Icahn, and George Soros all started with nothing---and made billion-dollar fortunes solely by investing. But their investment strategies are so widely divergent, what could they... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0749452250
• ISBN13: 9780749452254
• Release Date: January 2008
• Publisher: Kogan Page
• Length: 264 Pages
• Weight: 1.10 lbs.

Customer Reviews

an NLP approach: study the thinking of successful investors

Author Mark Tier applies Neuro-Linguistic Programming to investing. NLP is a discipline that says if you want to be good at something, emulate the thoughts of those who are masters and your own performance will follow. He collects all the information he can on Warren Buffett and George Soros and what they say they are thinking, and distills out 23 common elements. Then he compares this to several other investors. The author then urges you to develop your own investing style and discover what your strengths are, rather than giving you particular advice or a system. He provides some advice on how to discover your investing style, but exactly how to develop one's own system is a little incomplete. What to do once you have it is very complete, although he gives an example of something John Templeton did late in life which seems completely outside John's system. The book is an efficient way to gain insight into Warren and George without having to read multiple books by or about each man. It also became clear to me for the first time that some people do become very wealthy only through investing, not through business or other means. So it is possible. Warren Buffett's value philosophy is fairly well known, however the author gives the clearest account that owning a business and controlling the cash flow to make additional investments, a key point of Buffet's method, is not the same as just owning the stock, and a key difference between Buffett and his mentor Benjamin Graham. Soros' investing philosophy is less well known, and the author provides insight into how Soros tests his ideas in the market before making the commitment to huge positions. Those of you interested in various "trading" styles might also want to check out The Complete TurtleTrader: The Legend, the Lessons, the Results.

Surprised at this books unpopularity

I only see eight reviews at the time I write this, but there must be over a hundred for each of the other much less useful books, particularly anything from the nauseating Kiyosaki collection. Many more new investors (and even experienced ones) could learn so much more from this book than most of the other basic investment books. Soros is a trader, Buffet is an investor, but they both have similar rules that fly in the face of the wall st. gurus. The book details 23 winning habits of both Soros and Buffet. Among the habits to adopt, the book stresses the need to separate knowledge from understanding, to do away with the traditional "diversity first" nonsense, and to avoid the habit of seeking validation of ones ideas with the gurus. There is also a useful check list at the back of the book for anyone about to take an investment plunge (not just for stocks). What's more, the author isn't just another fluffy columnist blathering on - he puts his money where his mouth is and, if his bio is to be believed, lives off his investments. Too many other financial writers are themselves financial train wrecks no better than a chimp at picking stocks. This book teaches the value of learning from others but thinking for yourself. Though it might seem painfully obvious, I don't know too many people who truly follow this advice (until now, myself included). I don't give five star ratings very often, but this book deserves it. If I had to recommend one investment book to anyone, especially a neophyte, this would be it.

Great Investment Recipe Book

I often think about successful investing as consisting of lots of different ingredients. But the key is getting all the ingredients right. Lots of people know some things, but they can't seem to put them all together into a coherent and workable investment style. Tier's book helps you do that by taking apart and studying the nuances in Warren Buffett's and George Soros's approaches. Toward the back, it also includes a look at Carl Icahn and John Templeton. Anyway, Tier breaks these styles down into winning habits. They are great fun to read about and Tier finds anecdotes and stories that you may not have heard before. It's inspiring reading, actually, and it got me thinking about lots of different things successful investors do. One of my favorite investment books.

Excelent book

Well written, easy to read and full of good advise for anybody who wants to invest in the stock market.

One of the best investment books out there!

I am surprised that this book doesn't get the attention that it so rightly deserved. This is indeed a hidden gem! I have read dozens of investment books over the years and this book definitely belongs to my all-time top 5 must read. The writing is simply amazing with investment advices that are clear, succint and easily applicable to our own investment situations. The book caters to a broad audience with investment advices that will prove beneficial to even the most seasoned investors. Beginners will love the book's approach detailing a step-by-step mental checklist to go through when making investment decisons. I am truly impressed by the author's careful research of coming out with 23 winning habits employed by the world's most successful investors including Warren Buffett and George Soros. I always thought that Warren is a true long-term investor and business owner whereas George is a amazing speculator taking advantages of current market conditions. Their investment philosophies must be worlds apart. Boy, was I wrong. As the author points out, they both have the same 23 winning investment habits as they go thru the same mental checklist when making investment decisions! This book is indeed a revelation. I won't spoil the party by telling you what the 23 winning habits are. But I promise that each page is a head-turner and you will learn so much and improve your investment record up a notch for every habit that you acquired and practiced. It is one of those rare investment books that I have read cover-to-cover for a great many times and still find the urge to refer back to it. I am sure you will too!