The Warren Buffett Way -- Copyright -- Contents -- Foreword: The Exception -- Foreword to the Second Edition -- Foreword to the First Edition -- Introduction -- Preface -- Chapter 1: A Five-Sigma Event: The World's Greatest Investor -- Personal History and Investment Beginnings -- The Buffett Partnership Ltd. -- Berkshire Hathaway -- Insurance Operations -- The Man and His Company -- Five-Sigma Event -- Chapter 2: The Education of Warren Buffett -- Benjamin Graham -- Philip Fisher -- Charlie Munger -- A Blending of Intellectual Influences -- Chapter 3: Buying a Business: The Twelve Immutable Tenets -- Business Tenets -- Simple and Understandable -- Consistent Operating History -- Favorable Long-Term Prospects -- Management Tenets -- Rationality -- Candor -- The Institutional Imperative -- Taking the Measure of Management -- Financial Tenets -- Return on Equity -- Owner Earnings -- Profit Margins -- The One-Dollar Premise -- Market Tenets -- Determine the Value -- Buy at Attractive Prices -- Anatomy of a Long-Term Stock Price -- The Intelligent Investor -- Chapter 4: Common Stock Purchases: Nine Case Studies -- The Washington Post Company -- Tenet: Simple and Understandable -- Tenet: Consistent Operating History -- Tenet: Favorable Long-Term Prospects -- Tenet: Determine the Value -- Tenet: Buy at Attractive Prices -- Tenet: Return on Equity -- Tenet: Profit Margins -- Tenet: Rationality -- Tenet: The One-Dollar Premise -- GEICO Corporation -- Tenet: Simple and Understandable -- Tenet: Consistent Operating History -- Tenet: Favorable Long-Term Prospects -- Tenet: Candor -- Tenet: Rationality -- Tenet: Return on Equity -- Tenet: Profit Margins -- Tenet: Determine the Value -- Tenet: The One-Dollar Premise -- Capital Cities/ABC -- Tenet: Simple and Understandable -- Tenet: Consistent Operating History -- Tenet: Favorable Long-Term Prospects.

Tenet: Determine the Value -- Tenet: The Institutional Imperative -- Tenet: The One-Dollar Premise -- Tenet: Rationality -- The Coca-Cola Company -- Tenet: Simple and Understandable -- Tenet: Consistent Operating History -- Tenet: Favorable Long-Term Prospects -- Tenet: High Profit Margins -- Tenet: Return on Equity -- Tenet: Candor -- Tenet: Rational Management -- Tenet: Owner Earnings -- Tenet: The Institutional Imperative -- Tenet: Determine the Value -- Tenet: Buy at Attractive Prices -- General Dynamics -- Tenet: The Institutional Imperative -- Tenet: Rationality -- Wells Fargo & Company -- Tenet: Favorable Long-Term Prospects -- Tenet: Rationality -- Tenet: Determine the Value -- American Express Company -- Tenet: Consistent Operating History -- Tenet: Rationality -- Tenet: Determine the Value -- International Business Machines -- Tenet: Rationality -- Tenet: Favorable Long-Term Prospects -- Tenets: Profit Margins -- Return on Equity -- One-Dollar Premise -- Tenet: Determine the Value -- H.J. Heinz Company -- Tenet: Consistent Operating History -- Tenet: Favorable Long-Term Prospects -- Tenet: Determine the Value -- Tenet: Buy at Attractive Prices -- Tenet: Rationality -- A Common Theme -- Chapter 5: Portfolio Management: The Mathematics of Investing -- The Mathematics of Focus Investing -- Probability Theory and the Market -- Kelly Optimization -- Munger on Betting Odds -- The Element of Psychology -- From Theory to Reality -- Focus Investors in Graham-and-Doddsville -- John Maynard Keynes -- Charles Munger Partnership -- Sequoia Fund -- Lou Simpson -- The Real Measure of Worth -- A Variety of Measuring Sticks -- Chapter 6: The Psychology of Investing -- The Intersection of Psychology and Economics -- Meet Mr. Market -- Behavioral Finance -- Overconfidence -- Overreaction Bias -- Loss Aversion -- Mental Accounting -- Myopic Loss Aversion.

The Lemming Factor -- Managing the Emotional Traps -- And on the Other Side, Warren Buffett -- Harry Markowitz-Covariance -- Eugene Fama-The Efficient Market -- Bill Sharpe-Capital Asset Pricing Model -- Buffett on Risk and Diversification -- Why Psychology Matters -- Chapter 7: The Value of Patience -- For the Long Term -- Rationality: The Critical Difference -- Slow-Moving Ideas -- System 1 and System 2 -- The Mindware Gap -- Time and Patience -- Chapter 8: The World's Greatest Investor -- The Private Buffett -- The Buffett Advantage -- Behavioral Advantage -- Analytical Advantage -- Organizational Advantage -- Learning to Think Like Buffett -- Business Tenets -- Management Tenets -- Financial Tenets -- Market Tenets -- Finding Your Own Way -- Appendix -- Notes -- Acknowledgments -- About the Website -- About the Author -- Index.