Recommendation: A Masterpiece for Understanding Buffett and Munger's Philosophy and Berkshire's Corporate Culture | Moon Byung-ro
Translator's Preface_How to Choose Buffett's Books, How to Read The Most Korean Way | This
introduction

Chapter 1.
stock investment

Expired Cheese [2003]
The Book That Opened My Eyes [2004]
Newton's Fourth Law of Motion [2005]
Thanks to not learning the efficient market hypothesis [2006]
Berkshire's Successor Conditions [2006]
We Want a Fund Manager with a Strong Sense of Mission [2010]
Great Companies, Good Companies, Terrible Companies [2007]
The Difference Between Gold and Cows [2011]
Trade stocks like you're investing in a farm [2013]
After decades of betting on American prosperity [2014]
The Compounding Effect of Undistributed Profits [2017]
Lessons Learned from a Fund of Funds Bet [2017]
Asset management company management fees [2003]
The Power of a Few Successful Investments [2022]
If you find a great company, hold on to it! [2023]
Why We Invested in Occidental and Japanese General Trading Companies [2023]
We intend to hold Japanese shares for the long term [2024]
There is no magic formula [Q 2015]
A fight without a chance of winning [Q 2016}
Chain Letter Scam [Q 2016]
Check your stock holdings daily [Q 2017]
Avoiding tech stocks made me miss out on Google and Amazon [Q 2017]
“I get my sugar from Coca-Cola” [Q 2017]
Why I Recommended the S&P 500 Index Fund to My Wife [Q 2017]
List of Target Companies for Acquisition No. 1 [Q 2017]
Will there be any profit left after deducting management fees from the fund? [Q 2017]
Are you crazy or learning? [Q 2017]
Amazon saw significant uncertainty [Q 2017]
Investing in the US Even if We Start Over [Q 2018]
My experience investing in a duck hunting club [Q 2019]
Buying Amazon Stock: Value Investing [Q 2019]
Why don't you disclose all your holdings? [Q 2019]
Gain an edge by focusing on a narrow area [Q 2019]
Which four airlines did Berkshire sell? [Q 2020]
Is the era of index funds over? [Q 2020]
The larger the assets under management, the more difficult it is to achieve excess returns [Q 2020]
Why didn't you buy stocks during a stock market crash? [Q 2021]
Berkshire Hathaway or the S&P 500 Index Fund? [Q 2021]
Why Invest in Index Funds with Your Wife's Legacy? [Q 2021]
Why did you sell some of your Apple stock? [Q 2021]
How to Value High-Growth Stocks [Q 2021]
Investing Cash During a Stock Market Bubble? [Q 2021]
Will Big Tech's Portfolio Increase in Berkshire Hathaway? [Q 2021]
What if Berkshire also hired a quant expert? [Q 2021]
Why has investment surged recently? [Q 2022]
How does Berkshire choose when to buy and sell? [Q 2022]
Stocks to Buy When Inflation Rise [Q 2022]
Are Stocks Lackling Inflation? [Q 2022]
What are your views on investing in China given the current situation? [Q 2022]
Have you ever made a wrong investment decision because of emotions? [Q 2023]
What impact will AI have on the world? [Q 2023]
How Value Investors Succeed in a Rapidly Changing Environment [Q 2023]
Balancing Short-Term Profits with Long-Term Moat Building [Q 2023]
The Real Reason I So Quickly Sold My TSMC Stock [Q 2023]
What's the rationale for holding large shares of Occidental and Chevron? [Q 2023]
Why did you sell some of your Apple stock? [Q 2023]
Are current market levels similar to those in 1999? [Q 2024]
If I started investing again with $1 million [Q 2024]
Is it possible that interest rates will lead to a reduction in Japanese investment? [Q 2024]
Are Big Tech Still Asset-Low Companies? [Q 2025]
[Commentary] Parts you can't follow, parts you can follow_Hong Jin-chae

Chapter 2.
corporate acquisitions

Acquisitions completed within a week [1999]
Why Berkshire Awarded PhD Degrees to College Students [2003]
We don't sell underperforming companies either [2011]
6 Criteria for Acquisitions [2014]
Expansion of truck rest area business, real estate brokerage, etc. [2017]
America Continues to Move Forward [2020]
Great Managers and Great Companies [2021]
Pete Riggle - The One and Only [2024]
Most Memorable Failure [Q 2015]
Have you changed your investment criteria? [Q 2016]
Why was the acquisition priced high based on PER [Q 2016]
Which sectors are you interested in acquiring? [Q 2017]
What kind of company is McLean? [Q 2017]
How Does SPAC Impact Berkshire's Acquisitions? [Q 2021]
What Mistakes Were Made During the Precision Castparts Acquisition Process? [Q 2022]
Are you willing to acquire a foreign company? [Q 2022]
Is Berkshire likely to be taken over by a corporate raid? [Q 2023]
What incentives are offered to owners and managers to sell? [Q 2023]
What achievements did speed, not patience, achieve? [Q 2025]
[Commentary] Is this the CEO you'll be partnering with for life? If so, take him over! - Hong Young-pyo

Chapter 3.
capital allocation

Berkshire Hathaway's Share Repurchase Terms [2011]
Two Situations When Buying Back Your Own Shares Is Unacceptable [2016]
How to Be Happier [2012]
Five Orchards and a Berkshire [2018]
The Perspective of Remaining Shareholders [2018]
We hope Berkshire's stock price falls [2019]
The Difference Between Berkshire and Other Conglomerates [2020]
Share buybacks to increase shareholder equity [2020]
A series of surprises [2021]
Three Ways to Increase Berkshire's Value [2021]
Berkshire's Four Giants [2021]
The past 58 years and some numbers [2022]
Berkshire Hathaway: Ambidextrous Investors [2024]
Thanks to Uncle Sam [2024]
Future Free Cash Flow Outlook [Q 2016]
I have too much excess cash [Q 2016]
Will they buy back their own shares even when BPS exceeds 1.2x? [Q 2017]
On post-Buffett stock buybacks [Q 2017]
Berkshire's Dividend Payout Potential [Q 2018]
Apple's massive stock buyback [Q 2018]
Why the company didn't buy back its own shares despite the stock price decline [Q 2019]
Aren't index funds better than cash? [Q 2019]
Why I Didn't Buy During COVID-19 [Q 2020]
Successors' Capital Allocation Ability [Q 2020]
Why Ajit Jain Was Excluded from Capital Allocation [Q 2020]
[Q 2020] Arguments Against Share Buybacks
Berkshire's stock price is 30% lower than before [Q 2020]
Is treasury stock buyback stock manipulation? [Q 2021]
Formula for Determining the Size of Treasury Stock Buybacks [Q 2022]
Capital Allocation with Over $100 Billion in Cash [Q 2023]
Why isn't $182 billion in cash being managed? [Q 2024]
Why Maintain High Levels of Cash Equivalents [Q 2025]
[Commentary] Berkshire Hathaway: A Capital Allocation Machine Perfected Over 60 Years - Byun Young-jin

Chapter 4.
Accounting, Valuation

Intrinsic Value Calculation Method [2010]
How Listed Companies Squeeze Profits [2007]
The capricious figure of net income [2010]
Two Popular Tricks [2016]
Float and Deferred Tax [2018]
The Miracle of Retained Earnings and Compound Interest [2019]
Surprising Facts About Federal Income Taxes [2022]
Sales Performance, Fact and Fiction [2023]
Shock, shock! A major US record is broken [2024]
Are deferred income taxes a permanent float? [Q 2015]
The Need to Simplify US Tax Law [Q 2015]
Why Berkshire's Bonds Aren't Top-Rated [Q 2016]
Why Restructuring Is Rare at Berkshire [Q 2016]
Is it appropriate to apply BPS to valuation? [Q 2017]
Comparing the Chinese and US Markets [Q 2017]
Distrusting EBITDA [Q 2017]
[Q 2023] Regarding Banks' Held-to-Maturity Accounting
[Commentary] Find "Intrinsic Value," Not "Accounting Numbers" - Kim Hyung-gyun

Chapter 5.
Investment in bonds, foreign exchange, and derivatives

The Risk of Being Treated Like a Fool [1997]
What Junk Bonds and Stocks Have in Common [2002]
Still Averse to Debt [2005]
Sorry, it's only dollars [2004]
A soft landing is a wish list [2006]
Hold Your Breath [2007]
How to Ride the Hell Express [2004]
My wife ran away with her best friend [2005]
Affection Isn't What It Used to Be [2008]
Derivatives are insurance [2010]
If you want to sleep comfortably [2012]
Can you predict oil prices over the long term? [Q 2015]
What is Berkshire's credit default swap premium? [Q 2016]
Why Cryptocurrency Is Shit [Q 2018]
Are Cryptocurrencies Worthless Artificial Gold? [Q 2021]
Any changes in your views on Bitcoin? [Q 2022]
The Day When U.S. Treasury Bonds Stop Selling [Q 2024]
What measures are taken to hedge foreign exchange risk? [Q 2025]
[Commentary] Stocks as the Lead Role, Bonds and Foreign Assets as Supporting Roles_Seo Jun-sik

Chapter 6.
governance structure

Greed Title Match - CEO's Compensation [2003]
Ask for a uniform [2005]
The Contagiousness of CEO Performance Compensation [2006]
The Money-Governing Directors [2006]
Why BNSF was acquired, even through the issuance of new stock [2009]
A teenage boy who sees a girl for the first time [2009]
Berkshire After Buffett and Munger [2019]
The Evolution of the Board of Directors in Governance [2019]
The Requirements and Abilities of a True Director [2019]
Promise to Treat You as a Partner [2020]
Does Owning Berkshire Hathaway Stock Promote Longevity? [2020]
The Risk of Splits from Activist Investors [Q 2015]
Defense Plan for Split Attempts [Q 2016]
Successor Compensation Plan [Q 2017]
Who Controls Berkshire's Voting Rights? [Q 2023]
How should pension funds and asset management companies respond? [Q 2024]
Today's Fishing News [Q 2025]
[Commentary] The US-ROK Dominance Structure Issues: Different Yet Overlapping_Kim Hak-gyun

Chapter 7.
Berkshire's corporate culture

Salomon Shareholder Letter and Report [1991]
Salomon work [1992]
Management Wisdom Learned from Batboy [2002]
Choosing to expand the moat over short-term performance [2005]
Even if my stocks are sold after death [2006]
Think Upside Down [2009]
The House We Make Makes Us [2010]
To the CEO.
“Please recommend your successor in advance” [2010]
Berkshire - Past, Present, Future [2014]
Vice President's Thoughts - Past and Future [2014]
The broadcast begins.
Standby, Cue! [2015]
How to Maintain a Strong Corporate Culture [Q 2015]
Secret Performance Bonus [Q 2015]
Diversity of 20 Headquarters Employees [Q 2016]
Any changes to the succession plan? [Q 2016]
Next CEO Compensation Plan [Q 2016]
Berkshire's Internal Risk Management [Q 2017]
Delegation of Investment Firm Authority and Value Creation [Q 2017]
Will corporate culture be maintained and strengthened? [Q 2018]
Won't it become more difficult to manage subsidiaries? [Q 2021]
[Q 2022] About Operations After Management Change
[Commentary] Delegation of Authority Makes Subsidiaries Dance_Park Sung-jin

Chapter 8.
Market perspective

Severe indigestion [2007]
No matter how large the number is, when multiplied by 0, it becomes [2010]
As it has prospered for the past 240 years [2015]
Productivity and Prosperity [2015]
The Impact of Climate Change on Berkshire [2015]
The Miracle of the Market System [2016]
America Riding the Wind [2018]
Our Weapon, No Longer a Secret [2023]
Stock prices relative to economic size [Q 2015]
Berkshire Hathaway Brands [Q 2015]
Which industries are resistant to inflation? [Q 2015]
Income Inequality [Q 2015]
On China's structural changes [Q 2015]
If Trump becomes president [Q 2016]
The Relationship Between Negative Interest Rates and Valuation [Q 2016]
Falling Oil Prices and Monetary Policy [Q 2016]
Real Estate Market Assessment [Q 2016]
Chinese Stock Investment [Q 2017]
About Kraft Heinz's Restructuring [Q 2017]
The Impact of Artificial Intelligence [Q 2017]
Health Insurance and Berkshire [Q 2017]
Labor Market Flexibility and Social Safety Net [Q 2017]
Competition and Coexistence between the US and China [Q 2018]
The Potential of Trump's Trade War [Q 2018]
Interest Rate Trends and Government Bond Purchases [Q 2018]
Innovation and Moat [Q 2018]
Profitability of Light Asset Companies [Q 2018]
Techniques for Realizing Product Reactions [Q 2018]
Passionate Capitalist [Q 2019]
The Creative Destruction of Capitalism [Q 2019]
COVID-19 and the Stock Market [Q 2020]
Will Negative Interest Rates Persist? [Q 2020]
The World's 20 Largest Companies: 30 Years Ago, Now, and 30 Years From Now? [Q 2021]
The Inflation Risk of Excessive Stimulus [Q 2021]
The level of inflation this year [Q 2022]
The possibility of the dollar losing its reserve currency status [Q 2023]
Is the Import Certificate System Different from Customs? [Q 2025]
[Commentary] Dealing with 'Mr. Market' and 'The Great Destroyer' - Chaejin Jeong

Chapter 9.
insurance business

Expanding investment in worst-case scenarios [1997]
15% more volatile than the stable 12% [1998]
Rewards breed performance [1998]
The best advertising is word of mouth [1999]
Please call me if you think you're being fooled [2004]
The Luck of a 20-Year-Old Graduate Student [2010]
[2002] Only Looks Good to Fools
Don't Swing at Bad Balls [2004]
Berkshire's Most Valuable Asset [2001]
Please save me from the hideout! [2009]
I will be a partner who keeps promises [2014]
I'll Make Hay Even After the Sun Sets [2016]
Subsidiary Intelligence, Berkshire's Capital [2017]
Geico and Tony Nicely [2018]
Berkshire Hathaway's Advantages [2019]
Insurance Business Performance [2023]
As economic risks increase, the non-life insurance industry also grows [2024]
Secrets to Success in the Insurance Business [Q 2015]
Is Berkshire too big to fail? [Q 2015]
Reinsurance Considered an Alternative Investment [Q 2015]
Why We Sold Our German Reinsurance Company [Q 2016]
Negative Interest Rates and Float Management [Q 2016]
Float and Reinsurance Business [Q 2016]
[Q 2017] Regarding Retroactive Reinsurance Transactions
Cyber ​​Risk Insurance Products [Q 2018]
Valuation of the Intrinsic Value of the Insurance Business [Q 2019]
About Insurance Pricing [Q 2019]
If Tesla Enters the Insurance Business [Q 2019]
Infectious Disease Insurance Products [Q 2020]
Comparing the Competitive Advantages of Geico and Progressive [Q 2021]
Zero Interest Rates and the Value of Float [Q 2021]
About Mars Project Insurance [Q 2021]
Why I'm Optimistic About Float's Stability and Profitability [Q 2022]
The Impact of Autonomous Driving on the Insurance Industry [Q 2024]
The Impact of AI on the Insurance Industry [Q 2025]
Strengthening Geico's Long-Term Competitiveness [Q 2025]
The Impact of Private Equity Funds' Insurance Acquisitions on Berkshire Hathaway [Q 2025]
[Commentary] Earn money with insurance, earn more with float investments_Lee Geon-gyu

Chapter 10.
financial industry

Why We Borrow When We Have Cash Overflowing [2003]
A much more reasonable practice [2008]
Why It All Went to Chaos [2009]
My Home is a Priority [2010]
Imaginative Investment Banks [2015]
Unexpected Synergy [2016]
Did Clayton Homes Engage in Predatory Lending? [Q 2015]
The Impact of Deposit Guarantees on Banks [Q 2023]
[Commentary] How Berkshire Avoided the Subprime Crisis_Hong Jin-chae

Chapter 11.
Manufacturing and service industries

Boat People's Reversal Drama [2004]
Mrs. B, Long Live Jangsu! [1983]
Why I Tap Dance [1999]
The sense to bring an airplane [1999]
Why We Continue to Own Newspapers [2006]
The Forest, Not the Trees [2016]
Railway and power companies [2016]
Large-scale acquisition of non-insurance subsidiaries [2017]
Corporate tax rate cut and subsidiary profit growth rate [2018]
Berkshire's Married Life [2019]
Berkshire Hathaway Energy [2019]
Two giants: BNSF and BHE [2020]
BNSF and BHE's Performance Beats Expectations [2023]
Renewable Energy [Q 2016]
3G and Cost Reduction [Q 2016]
About Precision Cast Parts [Q 2017]
The Impact of Online Shopping on Clothing Subsidiaries [Q 2017]
Preferred Assets in the Energy Sector [Q 2017]
Improving Healthcare Systems at Three Companies [Q 2018]
Retail Struggles Due to Changing Consumer Habits [Q 2020]
The Aviation Industry Downturn and Precision Cast Parts [Q 2020]
Capital-Intensive Enterprises and Inflation [Q 2020]
Joint Venture to Improve Healthcare Systems [Q 2021]
What's the Outlook for Commercial Real Estate? [Q 2023]
Protecting Berkshire's Power Company from Wildfires [Q 2025]
[Commentary] Even Buffett Failed, Just "Small" - Eunwon Lee

Chapter 12.
Berkshire Hathaway's Performance Report

2001 Performance Report [2001]
2002 Performance Report [2002]
2007 Performance Report [2007]
Berkshire's Performance Evaluation Criteria [2007]
The 2008 Financial Crisis and Berkshire's Performance [2008]
Berkshire's Performance Evaluation Method [2009]
2010 Performance Report [2010]
Five-Year Performance Analysis [2010]
2011 Performance Report [2011]
2012 Performance Report [2012]
2013 Performance Report [2013]
2014 Performance Report [2014]
2015 Performance Report [2015]
2016 Performance Report [2016]
The most important measure is normalized earnings power per share [2017]
Fluctuations in GAAP Earnings, Consistent Operating Profit [2018]
The Gap Between Accounting and the Real World [2019]
Our share of retained earnings [2020]
Better-than-expected 2024 performance [2024]
[Commentary] Why did we change the management performance evaluation criteria? _Lee Eun-won

Chapter 13.
Learning and Life Wisdom

Words of Thanks [2021]
Finding Great Partners is the Best [2022]
Charlie Munger - The Man Who Designed Berkshire Hathaway [2023]
Mistakes - Yes, Berkshire Makes Mistakes [2024]
Advice for Young People [Q 2015]
The Wealth of Nations and Capitalism [Q 2015]
So much so that I can't even eat or play [Q 2015]
Tuition Rise [Q 2015]
I was unusually lucky [Q 2016]
The source of my sense of humor [Q 2016]
Learning Machines and Rumors [Q 2017]
The Oldest-Looking Corpse [Q 2017]
I want to go back to being 90 [Q 2017]
How to manage other people's money? [Q 2019]
Understand Other People's Behavior [Q 2019]
Two Things Money Can't Buy [Q 2019]
Credit Card Loans and Investments [Q 2020]
How to Practically Apply Multidisciplinary Studies [Q 2022]
Advice for Those Seeking Their Calling [Q 2022]
How do I pass on my inheritance to my children? [Q 2023]
If you can't avoid harmful people [Q 2023]
Do you think Musk overestimates himself? [Q 2023]
How to Pass on Wisdom to Your Grandchildren and Heirs [Q 2023]
What would you do if you had one more day with Charlie? [Q 2024]
Are you considering investing some of your assets in an equal-weight S&P 500 index fund? [Q 2024]
Advice for Young People Developing an Investment Philosophy [Q 2025]
How did you overcome setbacks in life? [Q 2025]
[Commentary] Success and Happiness Can Be Achieved Without Luck_Hong Jin-chae

Appendix 1.
Comparing Berkshire's performance with the S&P 500
Appendix 2.
Humor, Quotes
Search

The definitive edition of Buffett's investment wisdom.
- A "treasure trove of wisdom" composed of Buffett's "writings" and "speech."
- Chapter-by-chapter commentary by domestic 'Buffettology' experts

Original Wordings from Buffett and Munger, Carefully Selected for Korean Readers
Warren Buffett's Masterclass, including his final handwritten letter for 2025.

On May 4, 2025, Warren Buffett announced his retirement at the Berkshire Hathaway annual meeting.
It has been 60 years since he took over management of Berkshire Hathaway as CEO of Buffett Investment Partnership in 1965.
The death of Berkshire Hathaway Vice Chairman Charlie Munger in November 2023, followed by Buffett's retirement, is a sad day for investors who cherish Berkshire Hathaway and love Buffett.

Immediately after Buffett announced his retirement, the translator asked, “Now that Buffett has retired, who do you think is the best investor we should be looking at going forward?” and he replied, “I don’t think there’s any need to look for other investment masters.
“It’s enough to just recall what Buffett has said so far,” he replied.
Then, I suddenly thought, 'There needs to be a 'complete edition' that faithfully compiles all the words and writings that Buffett has shared throughout his life.'
So the book I started reading was “The Complete Warren Buffett Bible.”


Edited by Richard Connors, a value investor who shared a friendship with Buffett.
"The trustworthy translator who moves Buffett's heart" by Lee Geon-yeok

Richard Connors, the original editor of this book, ran Connors Investment Management in St. Louis, Missouri, and has interacted with Warren Buffett since 2006, when he taught a course on him at Washington University in St. Louis.
The original book was published with Buffett's writings and words selected from various sources, including Berkshire's shareholder letters, shareholder meeting Q&A sessions, various interviews, and books.

This book was translated by Lee Geon, who, as the best investment book translator in Korea, has translated many books related to Buffett and attracted readers' attention by translating and introducing "The Warren Buffett Bible" in 2017.
He said, “The two main sources of direct access to Buffett’s thoughts are the shareholder letters he wrote himself and the general shareholders’ meeting responses he personally responded to,” and recommended, “If you want to carefully examine Buffett’s thoughts through a book, you should choose a book based on these two sources.”


This book, "The Warren Buffett Bible: The Complete Edition," contains a selection of the core elements of the previous edition of "The Warren Buffett Bible."
And, what was not covered in the previous edition, Buffett's shareholder letters from 2017 to 2025, as well as the shareholder meeting Q&A between Buffett and Charlie Munger, will be presented.
It contains all of Buffett's explanations and answers to key questions over a long period of time.

How to Read Buffett and Munger Most Korean-Style
Friendly commentary and excellent advice from 10 Korean Buffett experts.

Additionally, this book includes commentary on each chapter by 10 renowned experts who have been recognized for their investment performance in Korea and have studied Buffett.
Some of Buffett's "direct lectures" can be difficult for beginners and even investors who have studied him to some extent, but the chapter-by-chapter commentary bridges the gap.
All the commentary is useful, but I will introduce only two passages.


“Even though Buffett has admitted countless mistakes and improved himself, there are some principles that have not changed.
The fundamental principles of how stocks work, the unique advantages they offer over other assets, the investor's attitude toward capitalizing on those advantages, the importance of a range of abilities, and the belief in the magic of compounding.
“Chapter 1 is the chapter that summarizes the core contents.” (Chapter 1 Stock Investment Commentary: Hong Jin-chae, Parts that cannot be followed, parts that can be followed)

“Buffett says ‘emotional control’ is the most important virtue for these investors.
More important than excellent analytical skills is the ability to control your emotions even in extreme market conditions.
The only way to control your emotions is to set and stick to your principles.
“When analyzing a company, you must strictly follow the established criteria and not change those principles even if the stock market rises or falls significantly.” (Chapter 8.
Market Perspectives: Chaejin Jeong on Dealing with "Mr. Market" and "The Great Condemner"

In the commentary, Hong Jin-chae, CEO of Raccoon Asset Management, recommended the book, saying, “With just this one book, you will walk a completely different path from investors who lack the fundamentals.” Kim Hak-gyun, head of the research center at Shinyoung Securities, said, “There are some words from Buffett that must be heard in the current framework of the Korean stock market.”
Experts have showered the book with praise, including, “What we need is not the technology to predict market collapse, but an attitude to prepare life jackets” (Park Sung-jin, CEO of Ian Investment Consulting), and “It is a richly composed book worthy of the title of the final edition, and you will feel the profound insight of a master without any shortage of emotion” (Choi Jun-cheol, CEO of VIP Asset Management).

Encyclopedia of Buffett
Learn the essentials of investing in approximately 340 cases, with humor.

If you were asked to recommend the 'Greatest of All Time (GOAT) investor', everyone would think of Warren Buffett.
No investor has outperformed the market over the long term like Buffett.
Naturally, books introducing the investment insights and market responses of the "Sage of Omaha," Buffett, have been published continuously, and they are enough to fill several bookshelves.


This book aims to be both a definitive edition of Buffett's investment wisdom and an encyclopedia of Buffett.
The translator says, “Because the topics covered are diverse, some of the content is difficult, and the book is voluminous, it is not advisable to read from the first page to the end in one sitting unless you are a huge Buffett fan,” and suggests several reading methods, such as reading from the shareholders’ meeting response, reading by topic, and reading the commentary first.

This book contains nearly 340 of Buffett's writings and Q&As, excluding humor and quotes.
The metaphor of an 'encyclopedia' is not an exaggeration.
It seems possible to read one chapter a day over a one-year period.
After reading a chapter that interests you that day, you review it in light of what you have read previously, and in the process, you reread the chapters you have read previously.
Reading the wise humor and quotes shared by Buffett and his lifelong partner Charlie Munger in the appendix will refresh your spirit and provide you with both fun and inspiration.

Through this book, I hope that readers will be able to vividly experience, embody, and apply Buffett's insights on investment and life, anytime, anywhere.