home Islamic Book Summary: How to Pick Stocks Like Warren Buffet by Timothy Vick

Book Summary: How to Pick Stocks Like Warren Buffet by Timothy Vick

Warren Buffett has amassed a fortune of more than $60 billion. This book is a bit older so it only shows Mr. Buffett’s worth at $30 billion. The wealth and job creation based on his work is truly revolutionary. Berkshire Hathaway, which is the entity that he works out of, is a conglomerate of businesses that employ more than 250,000 people through companies like GEICO, Burlington Northern Railroad, See’s Candy and Helzberg Diamonds. When Warren Buffett evaluates a business it is a straight forward decision: YES, NO and Too hard. The too hard category keeps him focused on his circle of confidence which we will touch on in the book.

Why is this important to me?
I start all of the book summaries with this question because if we cannot answer it then there is no sense in wasting your time watching the video. The simple answer here is knowledge. One of the best ways to learn is by what I call OPE. OPE stands for other people’s expertize. Since Mr. Buffett probably won’t take my phone call and mentor me personally, does not mean that I can’t learn from him. Timothy Vick outlines in the book several things that Warren does to generate wealth. The real power in all of his strategies comes down to the power of compounding. Understand this concept and you too can benefit financially from this book.

video link: http://wp.me/p8HeNY-3Wz

OPT – Other people’s time is really where Mr. Buffett has been able to amass true wealth. Berkshire Hathaway’s tax return in 2009 was over 15,000 pages long. The corporate headquarters does not look like Enron. They have 20 people at corporate. The true value of OPT comes from betting on the right “Jockey”. All of the CEO’s that run the various businesses of Berkshire Hathaway are world class. This is a key component to investing in the RIGHT business. OPT is a critical component to how Mr. Buffett invests. He does NOT want to run the businesses. He simply wants to allocate capital.

Article Source: http://EzineArticles.com/6825497