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March 2011
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Book Review: Trade like Warren Buffett

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‘Trade Like Warren Buffett’


By James Altucher


Wiley 


Warren Buffett is considered world’s greatest value investor. Though he is famous for “buy and hold forever” strategy, the author James Altucher says perhaps no other investor has applied so many diverse set of investment strategies, as Buffett has done. This book is a testimony to that. (Warren Buffett claims to be 15% Philip Fisher and 85% Benjamin Graham.)  


In this book, James tries to cover all the important different investment styles used by Buffett, e.g. merger arbitrage, relative value arbitrage, bonds, fixed income arbitrage, stocks, commodities, and currencies, and focuses on how we can learn some trading tips from him. The pages explain strategies like mean reversion, market timing, funds, as well as Graham Dodd (margin of safety). The important role of internet and technologies in investing is also well explained.  


The book also contains very interesting interviews with two Buffett style hedge fund investors. I also liked the chapters “Buffett and disasters”, “trade like Bill Gates”, and “Jealousy”. This is a very good book, though the beginners may find it slightly difficult at some places. Highly recommended for Warren Buffett fans.  


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- Rahul

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