That Warren Buffett is currently the world’s most celebrated investor is beyond doubt. He has a legion of fanatical fans across the globe who hang on to every word he says. The annual general meeting of his company Berkshire Hathaway is dubbed as the Woodstock of Capitalism. Scores of books, articles, profiles and biographies have cemented his place as the poster boy of successful investing. Deservedly so. His record is difficult to argue against and the first page of his letter to shareholders, which details his investing track record, puts any debate on that point to rest.
In India too, we have whole-heartedly embraced his cult. If you cannot parrot a few Buffett and Mungerisms (after Charles Munger, vice-chairman of Berkshire Hathaway) in your sleep, you are not a serious investor. Publicly admitting to the fact that you haven’t read his teacher Benjamin Graham’s Intelligent Investor is nothing short of blasphemy. The book has been on our shelves for over a decade, but we haven’t read it cover to cover and we suspect neither have most of the high priests of investing.
