Review: Dear Mr. Buffett
General overview:
While the events of our market downturn are still fresh, Tavakoli writes a compelling line of events explaining what happened and why. Then on top of that she discusses what Warren Buffet thinks and what he would have done differently.
Maybe I didn’t realize the level as to Tavakoli’s expertise but it is expansive. Not only does she run her own firm, but provides information and guidance to the media. She was one of the few that touted warnings of the market crash and has deep insight to the inner workings of our economy.
This book is interesting and the audience that will find it most interesting are both those that are not aware of exactly what has happened as well as the reader who enjoys learning Buffett-isms and revisiting the unfolding of events. Even though she does a fairly good job of explaining some of the more confusing aspects of finance, this is a book about finance and the economy at higher level. It was published by John Wiley & Sons, Inc in 2009.
Excerpt:
The five most dangerous words in business may be “Everybody else is doing it.” …[L]et’s start with what is legal, but always go on to what we would feel comfortable about being printed on the front page of our local paper…Your attitude…expressed by behavior as well as words, will be the most important factor in how the culture of your business develops.
Pros:
In a clear tone, Tavakoli presents facts and events that conveys that she knows what she is talking about and adds a nice sprinkle of humor hear and there. It has some great quotes from Warren himself and is very current. There is a fair amount education in this book, which I love. It will still be interesting to read once the economy has recovered although its relevant focus is now.
Cons:
The first thing I noticed about halfway through the book was that I was chomping at the bit to read more insight from the “Oracle of Omaha.” There could have been more of that and perhaps since I am constantly glued to current financial events most of the content consists of rehashing the news. Sometimes, in order to be thorough in telling a back story, the recapping of the news gets a little long and when you go on the premise that this story is about Buffett, you might be a little disappointed.
Summary:
So should you buy this book, flip through while at the mall waiting for a significant other to finish up or avoid it completely?
This is a good book and merits reading although the demographic that will find it interesting is a little slimmer than mainstream. I think the heaviest reader will be the more die-hard Buffett followers as the gobble up every word about them. If you are a Tavakoli fan, then definitely get this book as well. If you want to read an in-depth analysis of the market collapse then by all means get this book.
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