The Winning Investment Habits of Warren Buffett & George Soros: Harness the Investment Genius of the World’s Richest Investors

207 Pages·2006·1.97 MB·English

by  Mark Tier

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Contents Title Page
Copyright Notice
Dedication
PART ONE
The Winning Investment Habits of Warren Buffett and George Soros
1. The Power of Mental Habits
The Master Investors • Why Johnny Can’t Spell • The Structure of Mental
Habits • “IceBreakers”
2. The Seven Deadly Investment Sins
3. Keep What You Have
“Never Lose Money” • Counting a Loss • “High Probability Events” • The
Foundation of Wealth
4. George Soros Doesn’t Take Risks?
Unconscious Competence • What Are You Measuring? • Beating a Hasty Retreat
• Actuarial Investing
5. “The Market Is Always Wrong”
Reading the Mind of Mr. Market • How Beliefs Alter Facts • Why Women’s
Skirts Go Up—and Down • The Master Investor’s Edge
6. You Are What You Measure
“Listening to the Market” • “Invest First, Investigate Later” • Buy More When It
Goes Up—or Down? • The “Rocket Fuel” of Leverage
7. “You Call That a Position?”
“Go for the Jugular” • The Investment That Makes a Difference
8. A Penny Saved Is a Dollar Earned
The “Rip Van Winkle” Investor • “I Like to Pay Lots of Tax”
9. Stick to the Knitting
What’s His Niche? • “I Want to Double My Money”
10. If You Don’t Know When to Say Yes, Always Say No
The Grass Is Always Greener … • Defining Your Circle of Competence
11. “Start with the A’s”
In the Kingdom of the Blind
12. “When There’s Nothing to Do, Do Nothing”
Prospecting for Gold
13. Pull the Trigger
14. Know When to Sell Before You Buy
Exit Strategies • “Cut Your Losses, Let Your Profits Run”
15. Never Second-Guess Your System
The Analyst, the Trader, and the Actuary
16. Admit Your Mistakes
“Unforced Errors” • “The Secret to My Success”
17. Learn from Your Mistakes
Buffett’s $2 Billion Mistake • “I Am My Most Severe Critic”
18. Wishing Won’t Make It So
Buffett’s “Head Start” • The Failed Philosopher • “It’s Frighteningly Easy”
19. Keep Your Mouth Shut
“Keep Quiet and Speculate” • “Did I Do the Right Thing?”
20. “Phony! Phony! Phony!”
“I Knew He Was a Phony” • How Soros Learned to Delegate
21. “Whatever You Have, Spend Less”
22. “We Should Pay to Have This Job”
“There Is More to My Existence Than Money”
23. Master of His Craft
24. This Is Your Life
25. “Eat Your Own Cooking”
In Investment Guru Land
26. Do You Need to Be a Genius?
27. Carl Icahn and John Templeton
PART TWO
Making the Habits Your Own
28. Laying Foundations
Take an Inventory • “I’m a Loser”
29. Clarify Your Investment Goals
Buffett’s Shortcut • What Moves the Market? • The “Good Investment” • What’s
Your Investment Personality?
30. What Are You Going to Measure?
Your “Margin of Safety” • Hire a Master Investor? • Keep Your Powder Dry •
Intelligent Diversification
31. Gaining Unconscious Competence
Before You Call Your Broker … • Putting Your Money Where Your Mouth Is
32. It’s Easier Than You Think
Afterword: Where to Get Help
Appendix I: The 23 Winning Investment Habits
Appendix II: Records of the Two Master Investors
Acknowledgments
References
Notes
Index
By the Same Author
Copyright
For Tamsin, Natasha, Shaun, and Bun—
so you don’t need to repeat my mistakes
P O
ART NE
The Winning Investment Habits of
Warren Buffett and George Soros