Buffett's tips : a guide to financial literacy and life / John M. Longo and Tyler J. Longo.

Format:

Book

Author/Creator:

Longo, John M., author.

Longo, Tyler J., author.

Language:

English

Subjects (All):

Buffett, Warren, 1930---Anecdotes.

Buffett, Warren.

Financial literacy.

Investments.

Physical Description:

1 online resource (435 pages)

Edition:

1st ed.

Place of Publication:

Hoboken, New Jersey : Wiley, [2021]

Summary:

What if you could learn financial literacy from Warren Buffett himself?Finance is a language like any other: the more fluently you speak it, the further--and more comfortably--you travel.And if you want to improve your financial literacy, what better teacher could you have than Warren Buffett?.

Contents:

Cover

Title Page

Copyright Page

Contents

Preface

Acknowledgments

Chapter 1 Who Is Warren Buffett?

Introduction

Buffett the Teen

Who Are We to Write This Book?

What Is Financial Literacy and Why Does It Matter?

Some Fundamental Buffett "Tips"

Buffett's Work Ethic

Buffett Has Spent a Lifetime Learning

Why Is Buffett Happy?

Improve Your Communication Skills and See Your Lifetime Earnings Increase 50%

Acting with Integrity Is the Right Thing to Do and Good for Business

Buy Low, Sell High

Buffett Doesn't Succumb to Peer Pressure: The Inner Scorecard

Buffett's Fallback Career-Comedian

Buffett's Lasting Legacy: Philanthropy

Buffett's Tips from Chapter 1

References

Chapter 2 Investment Fundamentals According to Buffett

The "Miracle of Compound Interest" Explained

Trade-Offs: A Fundamental Principle of Life

The Saint Petersburg Paradox: A Lesson on Risk and Return

Risk and Return: The Evidence

Diversification: One of the Few Free Lunches in Life

Supply and Demand Determine Price

Summary on Financial Fundamentals

Buffett's Tips from Chapter 2

Chapter 3 Bank Accounts, Debit Cards, Credit Cards, and Your Credit Score

Insured Bank Deposits

Savings Accounts and Certificates of Deposit (CD)

Checking Accounts and Electronic Bill Payment

Parts of a Check

Balancing a Checkbook

Debit Cards and Automated Teller Machines (ATM)

Credit Cards and Charge Cards

Apps to Send Money: PayPal, Venmo, Zelle, Apple Pay, Android Pay, and so forth

Your Credit Score: A Report Card of Your Financial Responsibility

Personal Bankruptcy: Try to Avoid at all Costs

A Word on Bitcoin from Buffett

Buffett's Tips from Chapter 3

Chapter 4 Bonds and Inflation

US Savings Bonds.

Other US Treasury Fixed Income Securities

Inflation and the Consumer Price Index (CPI)

Bond Ratings and Corporate Bankruptcy

Corporate Bonds, Municipal Bonds, and Bowie Bonds

Bowie Bonds and Other Asset-Backed Securities

The Federal Reserve: The Central Bank of the United States

What Determines Interest Rates?

Intuition on Estimating the Price of a Bond

So Are Bonds Good Investments?

A Note on Negative Bond Yields

Buffett's Tips from Chapter 4

Appendix: Bond Valuation

Chapter 5 Stock Market Fundamentals

Initial Public Offerings (IPOs): The Birth of a Stock

Investment Banks and Investment Bankers

The Main Event: The Stock Begins Trading on the Exchange

The Stock Exchange

A Sidebar on Stock and Mutual Fund Symbols

Dividends

Large Cap vs. Small Cap

Growth vs. Value

Domestic vs. International

An Index Fund: A Great "Set It and Forget It" Long-Run Investment

Beating the Market and the Efficient Market Hypothesis

Meet Mr. Market, the Manic-Depressive Stock Market

Buffett's Tips from Chapter 5

Appendix: Selling Short (or the "Don't Try This at Home" Area of Investing)

Chapter 6 Buffett's Approach to Stocks

Estimating the Value of a Stock

Getting a Price Target with the Discounted Cash Flow Model

Getting a Price Target with the Wall Street P/E Model

Buffett's Approach to Stocks

Getting into the Buffett Mindset on Investing

Stay within Your Circle of Competence

The Importance of Being Patient

Good vs. Bad Companies and the Passage of Time

How Buffett Thinks About Change in an Industry

Types of Businesses Buffett Likes

A Moat Around a Business Is a Recipe for Success

Demonstrated Consistent Earnings Power

Look for Companies with Good Management.

Buy Companies That Have the Power to Overcome Inflation

Focus on Firms with Favorable Long-Term Prospects

When to Sell

Summarizing Buffett's Approach

Buffett's Tips from Chapter 6

Chapter 7 Accounting Fundamentals: The Report Card for Businesses

The Income Statement: A Company's Report Card for One Period

Apple's Income Statement

The Balance Sheet: A Picture of a Company's Report Card Since Inception

Current Assets

Long-Term Assets

Liabilities

Current Liabilities

Long-Term Liabilities

Stockholders' Equity

A Quick Note on the Statement of Cash Flows

Summary

Buffett's Tips from Chapter 7

Chapter 8 Buffett's Approach to Portfolio and Risk Management

The Key to Selecting a Well-Diversified Portfolio: Correlation

A (Theoretical) Portfolio with No Risk

Selecting an Optimal Diversified Portfolio: The "Business School" Approach

Buffett's First Approach to Portfolio Selection: Index Funds

Buffett's Second Approach to Portfolio Selection: Expert Mode

A Compromise Solution to Portfolio Selection

How Many Stocks Make a Diversified Portfolio?

The "Business School" Approach to Risk

Buffett's Critique of the Business School Approach to Risk

Buffett's Approach to Risk

Buffett on Gold

Summarizing Buffett's Views on Risk

Endnote on CAPM

Buffett's Tips from Chapter 8

Chapter 9 Business 101: Companies You Should Know

The Dow Jones Industrial Average: The Oldest Diversified US Stock Market Index

How the Dow Is Calculated

An Explanation of Stock Splits

Different Share Classes and Buffett on Stock Splits

Current Stocks in the Dow Jones Industrial Average

Materials Stocks in the Dow

Chevron (NYSE: CVX)

Dow Chemical (NYSE: DOW).

Consumer and Business Services Stocks in the Dow

Home Depot (NYSE: HD)

McDonald's (NYSE: MCD)

Walmart (NYSE: WMT)

Consumer Goods Stocks in the Dow

Apple (NASDAQ: AAPL)

Coca-Cola (NYSE: KO)

Nike (NYSE: NKE)

Procter &amp

Gamble (NYSE: PG)

Walgreens Boots Alliance (NASDAQ: WBA)

Walt Disney (NYSE: DIS)

Financial Stocks in the Dow

American Express (NYSE: AXP)

Goldman Sachs (NYSE: GS)

JPMorgan Chase &amp

Co. (NYSE: JPM)

Travelers (NYSE: TRV)

Visa (NYSE: V)

Health Care Stocks in the Dow

Amgen (NASDAQ: AMGN)

Johnson &amp

Johnson (NYSE: JNJ)

Merck &amp

Co. (NYSE: MRK)

UnitedHealth Group (NYSE: UNH)

Industrial Goods Stocks in the Dow

Boeing (NYSE: BA)

Caterpillar (NYSE: CAT)

Honeywell (NYSE: HON)

3M Company (NYSE: MMM)

Technology Stocks in the Dow

Intel (NASDAQ: INTC)

International Business Machines (NYSE: IBM)

Microsoft (NASDAQ: MSFT)

salesforce.com (NASDAQ: CRM)

Telecommunications Services Stocks in the Dow

Cisco Systems (NASDAQ: CSCO)

Verizon (NYSE: VZ)

Some Blue-Chip US Stocks That Aren't in the Dow

The FANG Stocks-They Don't Bite

China's Emerging Titans

Some International Energy Titans

Some Global Consumer Titans

Some Global Financial Service Firms

Buffett's Tips from Chapter 9

Chapter 10 Business 101-Past and Present Business Leaders, or Who's Who in Business

Past Business Leaders

Alexander Graham Bell

Rose Blumkin (Mrs. B)

Andrew Carnegie

Walt Disney

Thomas Edison and Jack Welch

Henry Ford

Katharine Graham

William Randolph Hearst

Steve Jobs

Ingvar Kamprad

Ray Kroc

Estee Lauder

J.P. Morgan

John D. Rockefeller

Cornelius Vanderbilt

Sam Walton

Thomas Watson Jr.

Present Business Leaders

Bernard Arnault

Mary Barra

Jeff Bezos.

Richard Branson

Michael Bloomberg

Sergey Brin, Larry Page, and Sundar Pichai

Shawn Carter, Beyoncé Knowles, Sean Combs, and Andre Young

Tim Cook

Jamie Dimon

Jack Dorsey

Bill Gates, Paul Allen, and Steve Ballmer

Reed Hastings

Kylie Jenner and Robyn Fenty

Phil Knight

Jack Ma, Pony Ma, and Robin Li

Rupert Murdoch

Elon Musk

Amancio Ortega

Howard Schultz

Oprah Winfrey

Mark Zuckerberg and Sheryl Sandberg

Buffett's Tips from Chapter 10

Chapter 11 Being Thrifty like Buffett: Ways to Save Money

Your Library: Free Books, Magazines, Newspapers, Music, Movies, and More

Free Educational Courses: Khan Academy, Coursera

Websites for Free Stuff

Free Activities

Amazon.com: The World's Biggest Store

Comparison Shopper Tools: Your New Best Friend

Barter: Turning a Cell Phone into a Porsche Convertible

Eat a Low-Cost Meal, Periodically

Shop Private Label and Generic Items

Clothes: Outlet Stores, Vintage Items, and Buying Off-Season

Buying Gasoline

Coupons, Double-Couponing, Triple-Couponing, and Groupon

Rewards Programs

Negotiate with Cell Phone, Cable, and other Service Providers

Yard Sales, Flea Markets, and More: Turning Trash into Treasure

Do-It-Yourself

Donate Things to Charity

Avoid Shooting Yourself in the Foot with Bad Habits

Tying It All Together in a Budget

Buffett's Tips from Chapter 11

Appendix: Sample Budget

Chapter 12 Buffett's Views on Cars and Homes

Do You Need a Car?

New Cars vs. Used Cars

Buying vs. Leasing a Car

The Best Time to Buy or Lease a Car

Home Basics

Finding A Home

Bidding for a Home

Paying for a Home: The Down Payment

Paying for a Home: The Mortgage

A "House Hack": Getting Someone to Pay (Most of) Your Mortgage.

Looking Under the Hood of a Mortgage.

Notes:

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

9781119763727

111976372X

OCLC:

1225549041