How to pick stocks like Warren Buffett : profiting from the bargain hunting strategies of the world's greatest value investor

목차 (Table of Contents)

• CONTENTS
• Acknowledgments = ⅸ
• PART 1 BECOMING A BILLIONAIRE
• 1 How Warren Buffett Amassed His Fortune = 3
• The Stuff that Billionaires Come From = 6
• From $100 to $30,000,000,000 = 7
• Warren the Hustler = 8
• The Investment Pools = l0
• 2 Amassing a Fortune, Part Ⅱ = 15
• Building Book Value = 23
• What Led to Berkshire's Fabulous Stock Performance? = 24
• PART 2 DEVELOPING A MATHEMATICAL MIND
• 3 Buffet Math 101 = 33
• The Power of Compounding = 34
• The Links between Price and Value in the Market = 39
• Price and Value Compound Together = 43
• Ignore Wall Street's Predictions of Performance = 44
• What Does Mathematics Tell Us about the Market's Future? = 47
• 4 Buffett Math 201 = 53
• Step 1 : The Miraculous Advantage of Buying Low = 54
• Step 2 : Keep It Concentrated = 58
• Step 3 : Stay Mindful of Costs = 63
• 5 Understanding Opportunity Costs = 65
• Can I Interest You in a $20 Million Automobile? = 68
• Buffett the Rational Saver = 70
• 6 Maximizing Gains with a Buy-and-Hold Strategy = 71
• Holding Period Determines Likelihood of Gain = 75
• The Punishing Cost to Society of Turnover = 80
• 7 Avoiding the Chain Link of Errors = 87
• The Chain Rule-What an Assembly Line Has in
• Common With Stock Picking = 89
• 8 Hitting for a High Average = 93
• A 30-Year Plate Appearance = 96
• Put Your Favorite Stocks in Inventory = 97
• PART 3 ANALYZING COMPANIES LIKE BUFFETT
• 9 Valuing a Business = 103
• Estimating Earnings = 108
• Discounting Earnings for Risk = 114
• 10 Book Value = 123
• How to Grow Book Value = 128
• Book Value Paints a Better Picture than Earnings = 130
• Those Disgraceful Accounting Charges = 132
• 11 Understanding Return on Equity = I35
• Calculating Return on Equity = l37
• Use ROE to Predict Future Performance = 143
• 12 Buffett's Magic "15 Percent Rule" = 147
• Rate-of-Return Examples = 149
• 13 Putting Growth in Context = 157
• Welcome to the United States of Yahoo! and Cisco = 159
• 14 Coveting Moats = 165
• What Is Predictable These Days? = 169
• What If... = 169
• 15 Comparing Stocks to Bonds = 175
• Stocks Are Bonds with Less Predictable Coupons = 178
• Six Rules for Comparing Stocks to Bonds = 180
• Earnings Yields for Buffett's Major Investments = 182
• When Are Bonds Preferred to Stocks? = 185
• PART 4 AVOIDING LOSSES
• 16 The Benefit of Avoiding Losses = 191
• The Power of Avoiding Losses = 192
• The Losers Game = 194
• 17 Avoiding Losses Ⅱ = 199
• Keeping Abreast of Market Conditions = 199
• Market Call 1 : Selling Out before the Early 1970s Bear Market = 200
• Market Call 2 : Going Long in 1974 = 201
• Mark6t Call 3 : Seeing the Opportunities that Would Open Up in the 1980s = 201
• Market Call 4 : Avoiding the 1987 Crash = 202
• Convertibles = 205
• Salon1On Brothers = 207
• Gillette = 209
• American Express = 210
• Options = 212
• 18 Warren's Secret Weapon = 215
• Stringing Small Gains Together with Takeovers = 216
• The Rockwood Cocoa Bean Bonanza = 222
• Arcata Corp. = 223
• MGI Properties = 224
• General Dynamics = 225
• Adding Arbitrage to Your Portfolio = 226
• Rules for Engaging in Arbitrage = 23l
• PART 5 CHICKEN SOUP FOR THE INVESTOR
• Buffett's Thoughts on Forming Good Habits = 235
• Appendix A Mr. Market = 247
• Appendix B Your Competitive Advantage Over Buffett = 251
• Endnotes = 261
• Index = 269