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Buffett Signed Copy of Intelligent Investor Sells For Over $25K


Parsad
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  • 3 weeks later...

"A book on investing that is the only first-edition signed by billionaire investor Warren Buffett sold at auction yesterday for $25,250 in San Francisco."

“Warren told me he doesn’t remember ever signing a first edition of this book before so I take that as prima facie evidence that this is the only one,” said Wolff, who is also an executive at Clarium Capital Management LLC in San Francisco. Carrie Kizer, Buffett’s assistant, confirmed Wolff’s account.

 

Hummm.... I have a first edition/first printing of "II" that he signed for me 2 yrs ago this week...

 

Weird.

 

how did you get the autograph?

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Guest ValueCarl

There is an edition of "Securities Analysis" which created a controversy when Buffett was called to testify about it in the courts, I believe it was during the 1950's, when he told the person "quoting" the book, that he was mistaken about the assumptions because Warren knew, a revision from the original message had taken place. It was either #2(1940) or #3(1951), which was revised, versus #1, which was written in 1934 post Great Depression(1) by Graham/Dodd. I also believe the court dispute had brought Buffett all the way to the halls of Congress based upon my recollection of same.

 

Since so much time has passed, I am not sure if I absorbed this data from Janet Lowe's biography of Ben Graham, or some other work she did tied to Warren Buffett. I recall debating with certain anonymous posters in other venues some years back surrounding this same issue, while they refused to believe me. I am still not sure if this was a conspiracy or not!  ;D

 

If the board police see it this way, please self-destruct this message forthwith! 

 

Either way, price is what you pay, value is what you get. I would think the edition of IV, with Warren having written the preface might hold some decent value going forward also. imo

 

 

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  • 4 weeks later...

There is an edition of "Securities Analysis" which created a controversy when Buffett was called to testify about it in the courts, I believe it was during the 1950's, when he told the person "quoting" the book, that he was mistaken about the assumptions because Warren knew, a revision from the original message had taken place. It was either #2(1940) or #3(1951), which was revised, versus #1, which was written in 1934 post Great Depression(1) by Graham/Dodd. I also believe the court dispute had brought Buffett all the way to the halls of Congress based upon my recollection of same.

 

Since so much time has passed, I am not sure if I absorbed this data from Janet Lowe's biography of Ben Graham, or some other work she did tied to Warren Buffett. I recall debating with certain anonymous posters in other venues some years back surrounding this same issue, while they refused to believe me. I am still not sure if this was a conspiracy or not!  ;D

 

If the board police see it this way, please self-destruct this message forthwith!   

 

Either way, price is what you pay, value is what you get. I would think the edition of IV, with Warren having written the preface might hold some decent value going forward also. imo

 

 

 

ValueCarl - There is a mention of this incident in Andrew Kilpatrick's OPV.  Could it be from there?  That's the first place I remember seeing this incident reported. (Mine is 2006 edition).

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Guest ValueCarl

Seshnath, can you share more specific details of Kilpatrick's account? I have never read that work. My vague recollection is from one of Janet Lowe's biographies, more than likely, one that was focused on Graham, but I no longer have that book in my possession.

 

I thought inquiring with Mr. Buffett's "secret admirer" might help me find the official answer considering all the time and personal history she explored with him.

 

However, that path seems to be "deaf" although I am sure it is not "dumb," blonde or no blonde.  ;) 

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  • 1 month later...
  • 3 months later...

Seshnath, can you share more specific details of Kilpatrick's account? I have never read that work. My vague recollection is from one of Janet Lowe's biographies, more than likely, one that was focused on Graham, but I no longer have that book in my possession.

 

I thought inquiring with Mr. Buffett's "secret admirer" might help me find the official answer considering all the time and personal history she explored with him.

 

However, that path seems to be "deaf" although I am sure it is not "dumb," blonde or no blonde.  ;)   

 

ValueCarl - I just recently figured out how to navigate around the site.  Hence, the delayed response. 

My copy of OPV and I are currently over a couple of thousand miles apart - 2258 to be exact.  The next time we meet would be, hopefully in September.  I will try to share the specifics from Kilpatrick's OPV, then.

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  • 1 month later...

Looking forward to your report in September, seshnath!

ValueCarl - I am three months early than promised.  Here is the paragraph from OPV:-

 

"Buffett downloaded The Intelligent Investor word-for-word forever into his brain.  Once, when he testified in the IBM antitrust case, an IBM lawyer said Buffett had contradicted a paragraph in the book.  Buffett countered that the lawyer was citing the third edition, which had additional contributors, and that the paragraph was not in the first edition, which reflected only the work of Graham and Dodd (New York Times, June 11 2000)."

OPV 2006 Literary Edition Pg 79. "Youth - A portrait of the artist as a young man"

 

Here is the article from NY Times referred to:-

 

Copyright New York Times Company Jun 11, 2000

 

Straight to the Heart Of Value Investing

 

Warren Buffett is not a man given to emotional displays. But he appeared genuinely moved recently when Barbara Dodd Anderson, the daughter of David Dodd, co-author with Benjamin Graham of ''Securities Analysis,'' presented him with her father's own copy of the first edition, with his annotations. This landmark 1930's book on value investing has been the basis for Mr. Buffett's strategy.

 

Mrs. Anderson made the presentation last month at the Columbia University Business School class on value investing once taught by Graham and then by Dodd, and now by Bruce Greenwald. Mr. Buffett, who lectures there every other year, recalled that Mrs. Anderson's father, a tenured professor at Columbia Business School when Mr. Buffett applied there, had helped him get in.

 

To illustrate how the book had become ingrained in his thinking, Mr. Buffett recalled that when he testified in the I.B.M. antitrust case, a lawyer for I.B.M. said Mr. Buffett contradicted a paragraph in the book. Mr. Buffett countered that the lawyer was citing the third edition, which had additional contributors, and that the paragraph was not in the first edition, which reflected only the work of Graham and Dodd.

 

Professor Greenwald said the idea had come from Mrs. Anderson, who lives near San Francisco but stays in touch with the business school through Catherine Murray, former director of development. GERALDINE FABRIKANT

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Guest ValueCarl

Seshnath, this is exactly what I was referring to while some on another venue attempted to call me a kook awhile back! That's really kookie!  :) Thank you very much.  ;D 

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