The Snowball

Warren Buffett and the Business of Life

by Alice Schroeder

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The Snowball - Warren Buffett - by Alice Schroeder - Audio Book CD

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Here is THE book recounting the life and times of one of the most respected men in the world, Warren Buffett. The legendary Omaha investor has never written a memoir, but now he has allowed one writer, Alice Schroeder, unprecedented access to explore directly with him and with those closest to him his work, opinions, struggles, triumphs, follies, and wisdom. The result is the personally revealing and complete biography of the man known everywhere as “The Oracle of Omaha.”

Although the media track him constantly, Warren Buffett himself has never told his full life story. His reality is private, especially by celebrity standards. Indeed, while the homespun persona that the public sees is true as far as it goes, it goes only so far. Warren Buffett is an array of paradoxes. He set out to prove that nice guys can finish first. Over the years he treated his investors as partners, acted as their steward, and championed honesty as an investor, CEO, board member, essayist, and speaker. At the same time he became the world’s richest man, all from the modest Omaha headquarters of his company Berkshire Hathaway. None of this fits the term “simple.” When Alice Schroeder met Warren Buffett she was an insurance industry analyst and a gifted writer known for her keen perception and business acumen. Her writings on finance impressed him, and as she came to know him she realized that while much had been written on the subject of his investing style, no one had moved beyond that to explore his larger philosophy, which is bound up in a complex personality and the details of his life. Out of this came his decision to cooperate with her on the book about himself thathe would never write. Never before has Warren Buffett spent countless hours responding to a writer’s questions, talking, giving complete access to his wife, children, friends, and business associates—opening his files, recalling his childhood. It was an act of courage, as The Snowball makes immensely clear. Being human, his own life, like most lives, has been a mix of strengths and frailties. Yet notable though his wealth may be, Warren Buffett’s legacy will not be his ranking on the scorecard of wealth; it will be his principles and ideas that have enriched people’s lives. This book tells you why Warren Buffett is the most fascinating American success story of our time.

About the Author Alice Schroeder

Author Alice Schroeder was a noted insurance industry analyst and writer who was a managing director at Morgan Stanley. She first met Warren Buffett when she published research on Berkshire Hathaway; her grasp of the subject and insight so impressed him that he offered her access to his files and to himself. Their friendship and mutual respect make her ideally positioned to write THE SNOWBALL.

Ms. Schroeder was born in Texas, and she earned an undergraduate degree and her MBA at the University of Texas at Austin before moving east to work in finance. She is a former CPA and lives in Connecticut with her husband.

About Warren Buffett

Warren Edward Buffett is an American investor, businessman, and philanthropist. He is one of the world's most successful investors and the largest shareholder and CEO of Berkshire Hathaway. He was ranked by Forbes as the richest man in the world during the first half of 2008, with an estimated net worth of .0 billion Often called the "Oracle of Omaha", or "the Sage of Omaha", Warren Buffett is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth. His 2006 annual salary was about 0,000, which is small compared to senior executive remuneration in comparable companies.When Warren Buffett spent .7 million of Berkshire's funds on a private jet in 1989, he jokingly named it "The Indefensible" because of his past criticisms of such purchases by other CEOs. He lives in the same house in the central Dundee neighborhood of Omaha that he bought in 1958 for ,500 and today, it is valued at around 0,000. Warren Buffett also is a notable philanthropist. In 2006, he announced a plan to give away his fortune to charity, with 83% of it going to the Bill & Melinda Gates Foundation. In 2007, he was listed among Time's 100 Most Influential People in The World. He also serves as a member of the board of trustees at Grinnell College.

Mr. Warren Buffett married Susan Thompson in 1952. They had three children, Susie, Howard, and Peter. The couple began living separately in 1977, although they remained married until her death in July 2004. Their daughter Susie lives in Omaha and does charitable work through the Susan A. Buffett Foundation and is a national board member of Girls, Inc. In 2006, on his seventy-sixth birthday, he married his never-married longtime-companion, Astrid Menks, who was then sixty years old. She had lived with him since his wife's departure in 1977 to San Francisco. It was Susan Buffett who arranged for the two to meet before she left Omaha to pursue her singing career. All three were close and holiday cards to friends were signed "Warren, Susie and Astrid". Susan Buffett briefly discussed this relationship in an interview on the Charlie Rose Show shortly before her death, in a rare glimpse into Warren Buffett's personal life.

He remains an avid player of the card game bridge, and has said that he spends twelve hours a week playing the game. He often plays with Bill Gates and Paul Allen. In 2006, he sponsored a bridge match for the Buffett Cup. Modeled on the Ryder Cup in golf, held immediately before it, and in the same city, a team of twelve bridge players from the United States took on twelve Europeans in the event. In 2006, he auctioned his 2001 Lincoln Town Car on eBay to raise money for Girls, Inc.

Warren Buffett works with Christopher Webber on an animated series with DiC Entertainment chief Andy Heyward. According to information presented by Warren Buffett at the Berkshire Hathaway annual meeting on May 6, 2006, the series will feature Warren Buffett and Munger in roles and the series will teach children healthy financial habits for life. Cartoon drawings of Warren Buffett and Munger were displayed throughout the events during the weekend as well as in a special animated movie from Heyward, displayed before the meeting. Warren Buffett has described himself as agnostic when it comes to religious beliefs. In December 2006 it was reported that Mr. Warren Buffett does not carry a cell phone, does not have a computer at his desk, and drives his own automobile, a Cadillac DTS.

In 2007, he auctioned a luncheon with him that raised a final bid of 0,100 for a charity. Warren Buffett's DNA report revealed that his paternal ancestors hail from northern Scandinavia, while his maternal ancestors most likely have roots in Iberia or Estonia. Despite widespread suggestions to the contrary, and the casual friendship which has developed between their families, Warren Buffett is no clear relation to the well-known singer Jimmy Buffett.

The Snowball - Warren Buffett - by Alice Schroeder - Audio Book CD