Warren Buffett

Inside the Ultimate Money Mind

By: Robert G. Hagstrom

Narrated by: Steve Menasche

In Warren Buffett: Inside the Ultimate Money Mind, Robert G. Hagstrom breaks new ground with a deep analysis of Buffett's essential wisdom, an intricate mosaic of wide-ranging ideas and insights that Buffett calls a Money Mind.

What exactly is a Money Mind? At one level, it's a way of thinking about major financial issues such as capital allocation. At another level, it summarizes an overall mindset for successfully investing in today's fast-paced stock market, a mindset that depends on a commitment to learning, adapting, and facing down irrelevant noise.

This is not a method book. It is a thinking book. Warren Buffett: Inside the Ultimate Money Mind explains the philosophies of self-reliance, stoicism, rationalism, and pragmatism and their contributions to making intelligent investment decisions. It also outlines the evolution of value investing, discusses how to develop a business-driven investing mindset, and describes the defining traits of successful active management. Lastly, it examines the surprising aspects of a Money Mind - sportsman, teacher, and artist. In short, Warren Buffett: Inside the Ultimate Money Mind helps listeners understand the building blocks that go into making a Money Mind so they can begin to incorporate its principles in the service to a life of value.

©2021 Robert G. Hagstrom (P)2021 Gildan Media

excellent audio book

lots great information about investing. I would rate this book in the same level as the intelligent investor

Hagstrom did it again

I’ve always enjoyed Robert Hagstrom’s work on Warren Buffett, and this book definitely did not disappoint.

Money Mind

Becoming a money mind is a wonderful way to become rich monetarily and emotionally. Be patient. Look toward ROC and ROE. Be rational, use logic-this pays massive dividends in life.

life changing

Walk a new path. Change your life. Make more money. Listen to this book. Do it now.

Worth it actually

I found the book to be worth it, especially the chapter “The Investment Zone.” You indeed have to value a business independent of the market and buy for the return you expect to get from the business as opposed to short term market price changes. I gave it 4 stars as Hagstrom does talk about “owner cash” but incorrectly defines “understanding” a business as if it’s something intellectual. No. What Buffett means by “understanding” a business is that you have a good idea of what a business’ future owner cash flows will look like for the next 10 years. This defines your circle of competence. If you aren’t sure about the future owner cash flows but think you can value the business (and hence the stock) you’re in a state of cognitive dissonance. Regardless, the book is worth it.