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Warren Buffetts Next Door


misterkrusty
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Horrible book.  There is nothing Warren Buffet about it - they suck people in with the title.  They aren't even tracking real returns, everyone is tracking play-money accounts.

 

Save your money. 

 

Someone on the amazon reviews said this here: https://www.amazon.com/gp/customer-reviews/R4PU77352NP89/ref=cm_cr_arp_d_rvw_ttl?ie=UTF8&ASIN=0470573783

 

And someone else commented on the review:

"This reviewer is flat out wrong. 1) While some of the results were first based on verifiable online portfolio returns, virtually all of the Warren Buffetts Next Door are investing real money in their brokerage accounts that mirror these virtual trades. This has been verified by the author. 2) It's easy to be lucky over a year or two or even three. All of the Warren Buffetts Next Door have verifiable track records ranging from six to nearly 11 years. Most mutual fund managers become stars after just five years of great performance. Furthermore many of the investors in the book, investing their real money, have been investing for more than 20 years and many in the book have achieved enviable wealth. 3) Book never writes off Mr. Buffett, in fact it sings his praises."

 

That said, reading the other reviews I get the impression that the book is a profile of people who happened to get lucky, but don't have any real lessons to teach.  Sort of like a reading profile of lottery winners.  They won't be able to teach you how to win the lottery too.

 

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Interesting. Will order the book.

Came across this:

http://www.freemoneyfinance.com/2010/11/the-warren-buffetts-next-door.html

 

which is about a review, comments and an interesting answer from the author.

 

Don't think this should be approached as a "recipe" for success.

Some people get lucky but there may be something useful to learn about long-term "luck".

Also nice to try dissect the essential elements that come form different strategies working out over time.

Of course, we don't tend to hear about those who fail unconventionally.

 

A similar book is Free Capital by Guy Thomas which I liked and which describes the experience of 12 private investors who compounded nicely over time using completely different strategies. European flavor.

 

https://www.amazon.com/Free-Capital-private-investors-millions/dp/1906659745/ref=sr_1_1?ie=UTF8&qid=1512153471&sr=8-1&keywords=free+capital

 

 

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