Even Buffett Isn't Perfect: Introduction

The author discusses some of Buffett's achievements, such as his investing track record and his escalation into the status of the world's richest person. Buffett's ability to generate such returns is in part credited to his unconventional thinking. For example, he likes to see stock prices drop (as he sees himself as a net buyer), whereas most investors like to see them increase. It is also recognized that Buffett knows his limitations, as Buffett will stay away from industries which are difficult to understand. He is also able to withstand the psychological effects that affect the market, best demonstrated by his avoidance of the entire tech bubble, from its multi-year rise to its ensuing collapse.

Janjigian also discusses Buffett's buy and hold investment style, and notes that it is not the only way to make money in the market. He also discusses some of Buffett's diversification strategies, even though Buffett himself is quoted many times knocking the usefulness of such strategies.

Finally, the author notes that as good as Buffett is, even he has made many mistakes. The book attempts to capture some of these mistakes and lay them out for investors so that they may learn from Buffett's mishaps. Similar to the book's foreword written by Steve Forbes, the author is also critical about Buffett's tax policies.

These topics and then some will be explored in the rest of the book!

On to the rest of the chapters!