The Essays of Warren Buffett

Warren Buffett's annual letters to the shareholders of Berkshire Hathaway are rearranged by theme in this collection, edited by Lawrence A. Cunningham into a single book on business and investing. Instead of moving year by year, the reader works through subjects such as corporate governance, finance, accounting, mergers, investing, and questions of price and value, so related ideas sit together without repetition. The fourth edition marks the collection's twentieth anniversary and adds Buffett's retrospective on fifty years of Berkshire, an essay by Charlie Munger on what he calls the Berkshire System, a defense of the company's policy of paying no dividend, and advice on buying apartments, farms or businesses.

Mohnish Pabrai called it the only book on Buffett that Buffett himself endorsed and suggested reading it after two decades of his shareholder letters. Former stock broker Michael Hebenstreit recommends it to anyone getting into trading or investing.