Brett Gardner Buffett's Early Investments: A new investigation into the decades when Warren Buf

《Buffett's Early Investments》这本书通过深入分析沃伦·巴菲特在20世纪50年代和60年代的投资案例，揭示了他是如何赚取人生第一个亿的。以下是对这本书的书评：

首先，这本书的内容非常详实且具有深度。作者Brett Gardner利用巴菲特当年投资时使用的相同文件，揭示了这些投资背后的精彩故事。这不仅让读者了解了巴菲特的投资决策过程，还深入探讨了他在投资生涯初期的探索与实践。书中对巴菲特投资理念的演变、投资方法的运用，以及他在面对挑战和挫折时的应对策略进行了全面的剖析，为读者呈现了一个立体、真实的巴菲特形象。

其次，这本书对于理解价值投资理念有着极大的帮助。巴菲特的投资哲学深受本杰明·格雷厄姆的影响，而这本书详细阐述了格雷厄姆的投资定义——“投资是经过深入分析，可以承诺本金安全并提供满意回报的行为”。同时，书中还介绍了查理·芒格和菲利普·费雪对巴菲特投资理念的完善和推动，使读者能够更全面地理解价值投资的核心要义。

此外，书中还通过具体的投资案例，如喜诗糖果的收购、美国运通公司的投资等，展示了巴菲特在实际操作中的智慧和勇气。这些案例不仅让读者看到了巴菲特在投资领域的天赋和努力，还深刻理解了价值投资的真谛。

书名：Buffett's Early Investments: A new investigation into the decades when Warren Buffett earned his best returns

作者：Brett Gardner

简介：Buffett’s Early Investments investigates ten investments that legendary investor Warren Buffett made in the 1950s and 1960s—earning him his first millions—and uncovers unique insights in the process.

Using the same documents Buffett used when he made these investments, the author reveals the fascinating inside stories

- How Philadelphia and Reading, Buffett’s largest investment in 1953, transformed from a declining coal company to a diversified conglomerate whose stock went up tenfold due to the intervention of Buffett’s mentor, Ben Graham.
- How corporate governance issues actually presented serious risk to Buffett’s 1966 investment in Walt Disney.
- How Buffett and Charlie Munger made their first formal investment together in Hochschild-Kohn.

Other investments analyzed include British Columbia Power, Cleveland Worsted Mills, Greif Bros, Marshall-Wells, Studebaker, Timely Clothes, and Union Street Railway. Not all of these investments worked out—this book shows why.

The book concludes by discussing the role activism had in driving Buffett’s early returns and the research methods Buffett used to uncover unique insights regarding the investments he made.

Buffett’s Early Investments helps readers understand how history’s greatest ever investor really made his returns in the years where he produced his best numbers—and what that means for investors today.