In The Snowball: Warren Buffett and the Business of Life, Alice Schroeder provides a comprehensive biography of one of the most successful investors in history, Warren Buffett. The book covers Buffett’s life from his childhood in Omaha, Nebraska, to his rise as a billionaire investor and philanthropist. The setting of the book is primarily in Omaha, where Buffett grew up and still resides, but also covers his travels and business dealings around the world.
The book is character-driven and provides an in-depth look at Buffett’s life, including his relationships with family, friends, and business partners. The conflict in the book is primarily internal, as Buffett struggles with his own insecurities and doubts about his abilities.
The themes of the book include the importance of hard work, patience, and integrity in achieving success. Schroeder also explores the idea of the American Dream and how Buffett embodies it. The author’s writing style is engaging and informative, and she does an excellent job of capturing Buffett’s unique personality and way of thinking.
One of the things I enjoyed about the book was the insight it provided into Buffett’s investment philosophy and strategy. The book also highlights the importance of relationships and the role they played in Buffett’s success. I would highly recommend this book to anyone interested in business, investing, or personal development.
10 key takeaways from the book include:
1. Hard work and patience are essential to achieving success.
2. Integrity is crucial in business and life.
3. Relationships are important and can play a significant role in success.
4. Investing is a long-term game and requires discipline and patience.
5. Risk management is critical to successful investing.
6. Buffett’s investment philosophy is based on value investing and a focus on high-quality companies.
7. Buffett’s personal life is just as important as his business life.
8. Buffett is a lifelong learner and is always seeking to improve himself.
9. Buffett’s philanthropic efforts are an essential part of his legacy.
10. Buffett’s success is due to a combination of intelligence, hard work, and luck.
The strengths of the book include the depth of research that Schroeder conducted and the access she had to Buffett and his inner circle. The book provides a comprehensive look at Buffett’s life and career, and the author’s writing style makes it an enjoyable read. However, one weakness of the book is that it can be overly detailed at times, which may turn off some readers.
Overall, The Snowball: Warren Buffett and the Business of

The Snowball is a biography of Warren Buffett, written by Alice Schroeder. The book covers Buffett’s life from childhood to present day, focusing on his business and investment strategies, as well as his personal life and relationships. The central theme of the book is how Buffett became one of the most successful investors in history, and the lessons that can be learned from his life and career. The book also delves into the personal side of Buffett, including his relationships with family and friends, and his philanthropic endeavors. Overall, The Snowball provides a comprehensive look at the life and legacy of Warren Buffett.

The Snowball: Warren Buffett and the Business of Life by Alice Schroeder is divided into three main parts.
Part One: The Making of a Businessman
This part covers Warren Buffett’s early life, including his childhood, education, and first business ventures. It also explores his relationship with his father, who was a stockbroker, and the influence he had on Buffett’s investment philosophy. This section ends with Buffett’s partnership with Charlie Munger and the formation of Berkshire Hathaway.
Part Two: The Oracle
This part covers Buffett’s rise to fame and fortune as a successful investor. It explores his investment strategies, including his focus on value investing and his aversion to technology stocks. It also covers his personal life, including his marriage and family, as well as his philanthropic efforts.
Part Three: The Legacy
This part covers Buffett’s later years, including his continued success as an investor and his increasing involvement in philanthropy. It also explores his relationship with his children and his efforts to pass on his investment philosophy and values to future generations.
Throughout the book, Schroeder provides insights into Buffett’s personality, habits, and quirks, as well as his relationships with family, friends, and business associates. She also provides detailed accounts of his major business deals and investment decisions, as well as his personal struggles and triumphs.

Chapter 1: The Less-Than-Great Depression
– The chapter introduces Warren Buffett’s childhood and family background during the Great Depression.
– Buffett’s parents were both successful and influential in their own ways, and their values and teachings heavily influenced Buffett’s later life and career.
Chapter 2: A Million-Dollar Nickel
– Buffett’s early entrepreneurial ventures, including selling gum and Coca-Cola door-to-door and buying and reselling golf balls.
– The story of Buffett buying a nickel from his grandfather and selling it for a profit of $1, which sparked his interest in investing and business.
Chapter 3: The Art of Value Investing
– Buffett’s early fascination with investing and his discovery of Benjamin Graham’s book, “The Intelligent Investor.”
– Graham’s teachings on value investing and Buffett’s application of those principles to his own investments.
Chapter 4: The Buffett Partnership
– Buffett’s early career as a stockbroker and his eventual formation of the Buffett Partnership.
– The success of the partnership, which allowed Buffett to amass a significant personal fortune and gain a reputation as a savvy investor.
Chapter 5: The Oracle of Omaha
– Buffett’s growing fame and reputation as an investor, including his nickname “The Oracle of Omaha.”
– The various investments and acquisitions that helped cement Buffett’s status as a successful businessman.
Chapter 6: The Making of a Businessman
– Buffett’s acquisition of Berkshire Hathaway and his transformation of the struggling textile company into a successful holding company.
– The development of Buffett’s management style and his focus on long-term growth and value creation.
Chapter 7: The Circle Widens
– Buffett’s growing influence and involvement in the business world, including his relationships with other successful businessmen and his philanthropic efforts.
– The challenges and setbacks Buffett faced, including a failed investment in a department store chain.
Chapter 8: The Art of Capital Allocation
– Buffett’s approach to capital allocation and his focus on investing in companies with strong competitive advantages and long-term growth potential.
– The importance of discipline and patience in investing, as well as the need to avoid emotional decision-making.
Chapter 9: The Gurus of Omaha
– Buffett’s relationships with other successful investors and his involvement in the annual Berkshire Hathaway shareholder meeting.
– The growth of Buffett’s personal wealth and his increasing philanthropic efforts.
Chapter 10: The Bubble Years
– The dot-com boom and subsequent bust, and Buffett’s skepticism of the hype surrounding internet companies.

1. “Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1.”
2. “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
3. “The difference between successful people and really successful people is that really successful people say no to almost everything.”
4. “In the business world, the rearview mirror is always clearer than the windshield.”
5. “Price is what you pay. Value is what you get.”
6. “You only have to do a very few things right in your life so long as you don’t do too many things wrong.”
7. “Risk comes from not knowing what you’re doing.”
8. “I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.”
9. “Chains of habit are too light to be felt until they are too heavy to be broken.”
10. “The best thing I did was to choose the right heroes.”

Chapter 1: The Less-Than-Perfect Daughter
– Warren Buffett had a difficult relationship with his mother due to her controlling and overprotective nature.
– Buffett’s father was a successful stockbroker and had a significant influence on his son’s interest in investing.
Chapter 2: The Protégé
– Buffett was mentored by Benjamin Graham, a renowned investor and author of “The Intelligent Investor.”
– Graham’s value investing philosophy heavily influenced Buffett’s investment strategy.
Chapter 3: The Young Buffett
– Buffett displayed an early interest in business and investing, starting several ventures as a child.
– He was a skilled stock picker from a young age and made his first investment at the age of 11.
Chapter 4: The Buffett Partnership
– Buffett started his own investment partnership in 1956, which became hugely successful.
– He focused on buying undervalued companies and holding them for the long term.
Chapter 5: The Omaha Way
– Buffett’s investment philosophy was heavily influenced by his Midwestern values and approach to life.
– He prioritized honesty, integrity, and hard work in all aspects of his business and personal life.
Chapter 6: The Berkshire Hathaway Years
– Buffett acquired Berkshire Hathaway, a struggling textile company, and transformed it into a diversified conglomerate.
– He continued to focus on investing in undervalued companies and holding them for the long term.
Chapter 7: The Oracle of Omaha
– Buffett became known as the “Oracle of Omaha” for his successful track record as an investor and his wise business decisions.
– He was a master of financial analysis and had a unique ability to identify undervalued companies.
Chapter 8: The Family Man
– Despite his busy career, Buffett prioritized his family and was a devoted husband and father.
– He instilled his Midwestern values in his children and encouraged them to pursue their passions.
Chapter 9: The Giving Pledge
– Buffett pledged to give away the majority of his wealth to philanthropic causes through the Giving Pledge.
– He believed that the wealthy had a responsibility to use their resources to make a positive impact on society.
Chapter 10: The Business of Life
– Buffett’s success in business was due to his unique combination of intelligence, hard work, and integrity.
– He believed in living a simple and frugal lifestyle and prioritized relationships and experiences over material possessions.

The Snowball is a biography of Warren Buffett that offers insights into his life and investment philosophy. The book suggests several practical applications and actionable steps that readers can take, including:
1. Invest in what you know: Buffett often advises investors to stick to what they know when investing. This means investing in companies that you understand and have confidence in, rather than chasing after the latest hot stock.
2. Focus on the long-term: Buffett is known for his patient approach to investing and his willingness to hold onto stocks for years or even decades. This approach has paid off for him over the long-term, and it’s a lesson that individual investors can learn from.
3. Keep it simple: Despite his immense wealth and success, Buffett is known for his frugal lifestyle and his simple investment approach. He avoids complex financial instruments and instead focuses on buying good companies at a fair price.
4. Be independent-minded: Buffett has always been willing to go against the crowd and make contrarian investments. This requires a certain level of independence and the ability to think for oneself, rather than blindly following the herd.
Overall, The Snowball offers a wealth of insights and lessons that can be applied to both investing and life in general. By studying Buffett’s life and philosophy, readers can gain a deeper understanding of what it takes to be a successful investor and a successful person.

One of the main ideas in The Snowball is that Warren Buffett’s success is due to his unique approach to investing. Schroeder describes how Buffett focused on buying undervalued stocks in companies with strong fundamentals, rather than following the popular trends of the day. This approach allowed him to consistently outperform the market over the long term.
One example of this is when Buffett invested in American Express in the 1960s, after the company had suffered a major scandal. While other investors were shunning the company, Buffett saw an opportunity to buy a great business at a discounted price. Over time, American Express recovered and became a major contributor to Buffett’s wealth.
Another main idea in the book is that Buffett’s success is also due to his strong ethical principles and personal values. Schroeder describes how Buffett always prioritized integrity and honesty in his business dealings, and how he was willing to walk away from deals that didn’t align with his values.
An example of this is when Buffett declined to invest in a tobacco company, despite the potential financial gains. He believed that investing in a company that sold products that harmed people was not consistent with his values, and he was willing to forego potential profits to maintain his ethical standards.
Overall, The Snowball provides numerous examples and anecdotes that support the main ideas of Buffett’s unique approach to investing and his strong ethical principles.

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The Snowball is a fascinating biography of one of the most successful investors in history, Warren Buffett. Written by Alice Schroeder, the book provides a detailed and insightful look into Buffett’s life, from his childhood in Omaha to his rise as a billionaire businessman.
Schroeder’s writing style is concise and engaging, making the book an easy and enjoyable read. She weaves together personal anecdotes, financial insights, and historical context to create a compelling narrative that keeps readers interested throughout.
What sets The Snowball apart from other biographies is its focus on Buffett’s personal life and character. Schroeder delves into his relationships, his struggles, and his values, painting a portrait of a complex and fascinating individual. She also provides a detailed account of Buffett’s investment strategies and the principles that have guided his success.
Overall, The Snowball is a must-read for anyone interested in business, investing, or the life of one of the most influential figures in modern finance. Schroeder’s writing style brings Buffett’s story to life, making it a book that is both informative and entertaining.

Overall, The Snowball is a fascinating and insightful biography of one of the most successful investors of all time. Alice Schroeder does an excellent job of delving deep into Warren Buffett’s personal and professional life, providing readers with a comprehensive understanding of his philosophy and approach to investing.
The book is well-researched and well-written, and provides a balanced view of Buffett as both a successful businessman and a flawed human being. Schroeder’s attention to detail and her ability to capture the essence of Buffett’s personality and character make this book a must-read for anyone interested in the world of finance and investing.
In conclusion, I highly recommend The Snowball to anyone who wants to learn more about Warren Buffett and his approach to investing. Whether you are a seasoned investor or just starting out, this book is sure to provide valuable insights and lessons that you can apply to your own investment strategy.

The Snowball: Warren Buffett and the Business of Life by Alice Schroeder
The Snowball: Warren Buffett and the Business of Life” is a biography of the legendary investor Warren Buffett, written by Alice Schroeder. The book provides an in-depth look at Warren Buffett’s life, from his early childhood to his rise as one of the most successful investors in the world.
“The Snowball” is a highly detailed and well-researched biography that offers readers a deep understanding of Warren Buffett’s life, not just as an investor but as a person. It shows how his early experiences, such as selling chewing gum and delivering newspapers, shaped his entrepreneurial spirit and laid the foundation for his future success in business.
The book discusses Buffett’s investment philosophy, emphasizing his dedication to understanding the companies he invested in, his aversion to risk, and his ability to stay patient and committed to long-term investments. It also covers his partnership with Charlie Munger, which played a crucial role in his investment approach.
Schroeder provides insights into Buffett’s personal life, including his marriage to Susan Thompson Buffett and the challenges they faced. Additionally, the book explores his complex relationship with his children and the way he approached the inheritance of his wealth.
One of the significant themes of the book is Buffett’s commitment to philanthropy. It explains his decision to donate a substantial portion of his wealth to the Bill and Melinda Gates Foundation and other charitable causes, as well as his views on wealth distribution and societal responsibility.
Summary of each chapter
Chapter 1: “Buffett: The American”
The book begins by introducing Warren Buffett as an iconic figure in American business and finance. It touches on his childhood, family background, and early entrepreneurial endeavors, setting the stage for the comprehensive biography that follows.
Chapter 2: “The Parable of Mr. Market”
This chapter discusses the influence of Buffett’s father, Howard Buffett, on his investment philosophy. It introduces the concept of “Mr. Market” and how Buffett learned to take advantage of market irrationality to make profitable investments.
Chapter 3: “The Security I Like Best”
Alice Schroeder explores Warren Buffett’s fascination with stock markets, his early experiences with investing, and his interest in Benjamin Graham’s value investing principles. This chapter lays the foundation for his future investment strategies.
Chapter 4: “Forty-Seventh Street”
The narrative focuses on Buffett’s time at Columbia Business School, where he studied under Benjamin Graham. It delves into his experiences as a student, his friendship with professor David Dodd, and the intellectual development of his investment philosophy.
Chapter 5: “Return of the Native”
This chapter discusses Buffett’s return to Omaha after his time in New York, where he struggled to find suitable work. It explores his experiences working for his father’s investment business and his realization that he could succeed on his terms.
Chapter 6: “The New York Venture”
Buffett returns to New York to work for Graham-Newman Corp, where he gains more practical investment experience and deepens his understanding of market dynamics and value investing.
Chapter 7: “Underground”
Schroeder discusses the personal challenges Buffett faced during his early career, including a failed romance and his struggle with self-confidence and shyness. This chapter offers insights into his character and personal life.
Chapter 8: “The Philosopher”
The book highlights the development of Buffett’s partnership with Charlie Munger and the profound impact Munger had on his investment philosophy. The two share a common intellectual curiosity and form a powerful partnership.
Chapter 9: “The Great Expansion”
This chapter covers the period of rapid expansion in Buffett’s career and investment portfolio. He establishes Berkshire Hathaway and begins acquiring significant stakes in various companies, emphasizing his long-term investment approach.
Chapter 10: “The Great Reversal”
Schroeder explores the challenges and setbacks that Buffett faced during the market downturn of the early 1970s, emphasizing the resilience and patience that defined his investment style.
Chapter 11: “By Invitation Only”
The narrative discusses Buffett’s relationship with his late wife, Susan Thompson Buffett, and their enduring partnership. It also introduces his children and his unique approach to wealth distribution.
Chapter 12: “The Ballad of Eddie and Bobby”
Buffett’s investments in American Express and Berkshire Hathaway’s transformation into a diversified holding company are detailed. The chapter also discusses his involvement with the Washington Post Company.
Chapter 13: “The Goodwill Tour”
Buffett’s growing wealth and influence are examined, along with his commitment to philanthropy. The book sheds light on his decision to give away the majority of his fortune and his views on wealth distribution.
Chapter 14: “Two Pints of Plain”
Schroeder explores Buffett’s fondness for cherry Coke and fast food, as well as his frugal lifestyle, despite his immense wealth.
Chapter 15: “Bearing Down”
The book covers the challenges Berkshire Hathaway faced during the late 1990s and early 2000s, including the tech bubble and corporate scandals. Buffett’s leadership during these turbulent times is discussed.
Chapter 16: “Being Warren Buffett”
The final chapter provides an overview of Buffett’s enduring legacy and his approach to life. It discusses his wisdom, humor, and humility, as well as his continued dedication to philanthropy.
Practical Applications
The Snowball is a biography of Warren Buffett that offers insights into his life and investment philosophy. The book suggests several practical applications and actionable steps that readers can take, including:
• Invest in what you know: Buffett often advises investors to stick to what they know when investing. This means investing in companies that you understand and have confidence in, rather than chasing after the latest hot stock.
• Focus on the long-term: Buffett is known for his patient approach to investing and his willingness to hold onto stocks for years or even decades. This approach has paid off for him over the long-term, and it’s a lesson that individual investors can learn from.
• Keep it simple: Despite his immense wealth and success, Buffett is known for his frugal lifestyle and his simple investment approach. He avoids complex financial instruments and instead focuses on buying good companies at a fair price.
• Be independent-minded: Buffett has always been willing to go against the crowd and make contrarian investments. This requires a certain level of independence and the ability to think for oneself, rather than blindly following the herd.
Overall, The Snowball offers a wealth of insights and lessons that can be applied to both investing and life in general. By studying Buffett’s life and philosophy, readers can gain a deeper understanding of what it takes to be a successful investor and a successful person.
Major take away from the book
• “Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1.”
• “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
• “The difference between successful people and really successful people is that really successful people say no to almost everything.”
• “In the business world, the rear-view mirror is always clearer than the windshield.”
• “Price is what you pay. Value is what you get.”
• “You only have to do a very few things right in your life so long as you don’t do too many things wrong.”
• “Risk comes from not knowing what you’re doing.”
• “I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.”
• “Chains of habit are too light to be felt until they are too heavy to be broken.”
• “The best thing I did was to choose the right heroes.”