Berkshire Beyond Buffett
Book

Berkshire Beyond Buffett

The Enduring Value of Values

Lawrence A. Cunningham
Columbia UP, 2014
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Editorial Rating

7

Qualities

  • Comprehensive
  • Background

Recommendation

Lawrence A. Cunningham cheers for Warren Buffett and Berkshire Hathaway in a book that perhaps should have been a magazine article. He explains that Berkshire founders stuck with core values and principles, and created a strong culture that should survive the passing of Buffett and even his successors. Those seeking secrets to Berkshire and Buffett’s success will get what they need from the introduction and the final chapter, and can skip the detailed history of Berkshire’s acquisitions. Though never is heard a discouraging word, getAbstract recommends this near-hagiography to investors and leaders who want to dive deeper into Buffett’s thoughts and the company’s history.

Summary

Hard Work, Discipline, Strategy and Core Values

Warren Buffett bought Berkshire Hathaway almost by accident; it was a bad deal for him and remained so for many years. However, through hard work, discipline, a no-nonsense acquisitions strategy and unwavering adherence to core values, Buffett made Berkshire one of the largest, most successful companies in history.

Buffett makes deals to acquire simple businesses he understands. He avoids technology and glitz. He prefers well-led, profitable companies that share his values. Berkshire looks for companies that spend and invest wisely, have “unleveraged equity” and enjoy a “durable competitive advantage, or moat.” If your moat is the lowest costs in your industry or a defined position at the high end of the market, Berkshire might be interested. If you lead and manage well, demonstrate integrity and make a profit in a fundamental business, you are Berkshire material.

If you attract Buffett’s interest, you’ll get a one-time, fair, nonnegotiable offer. If Berkshire acquires your company, you’ll enjoy unrivaled autonomy in running your business and a job for life – as long as you never violate Berkshire’s values or damage...

About the Author

Lawrence A. Cunningham, a professor at George Washington University, is an academic expert on Warren Buffett and Berkshire Hathaway.

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