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Warren Buffett and the Art of Stock Arbitrage: Proven Strategies for Arbitrage and Other Special Investment Situations Audiobook
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"Give a man a fish and you will feed him for a day. Teach a man to arbitrage and you will feed him forever." —Warren Buffett
Warren Buffett and the Art of Stock Arbitrage is the first book to explore the secret world of Warren Buffett's arbitrage and special situations investing. Long considered one of the most powerful and profitable yet least understood of Buffett's investment operations, these special types of investments have been the edge that has made Warren Buffett the world's greatest investor.
This book examines Buffett's special brand of arbitrage investing, which involves taking advantage of short-term price discrepancies that often occur when one company offers to buy another company. Though these discrepancies are small, they offer almost risk-free investment opportunities that have given Buffett an average annual rate of return of 23 percent on his invested capital. Buffett's strategies for investing in special situations like spin-offs, liquidations, recapitalizations, and tender offers are also explained. This body of investment opportunities, though small in number, has allowed Buffett to make substantial investments that give him high returns with very little risk.
Mary Buffett and David Clark, the authors of four bestselling books on Warren Buffett's investment methods, take the listener deep into the world of Buffett's arbitrage and special situation operations, giving us his strategies, his math equations for determining value, and dozens of examples of his investments in this very lucrative segment of investment operations.
In the years that Buffett's normal portfolio of long-term investments has done poorly, it is his investments in arbitrage and special situations that have lifted his performance to the record levels that have made him the second richest man in the world.
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“International bestselling authors Mary Buffett and David Clark explain how arbitrage turned Warren Buffett from a great investor into a worldwide phenomenon. Arbitrage presents the average investor with the greatest opportunities they may ever have to generate high returns with low risk. Every year many arbitrage deals come along that are within every investor’s grasp…if you learn how. Warren Buffett and the Art of Stock Arbitrage takes you behind the scenes for a serious exploration of arbitrage techniques that work. I suggest you study and put into practice these simple concepts.”
— Gabriel Wisdom, author of Wisdom on Value Investing and syndicated radio host
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This book will appeal to investors looking for an introduction to arbitrage and special situations. The authors successfully outline this complicated world and explain how Buffett has harnessed these events for profit.
— Library Journal Starred Review -
“The use of arbitrage and special situation investing has always been Warren Buffett’s golden lever; yet few investors have realized its value in portfolios, until now. Kudos to David Clark and Mary Buffett for finally bringing these strategies to light and revealing the final puzzle pieces in Buffett’s great career.”
— Timothy P. Vick, senior portfolio manager, the Sanibel Captiva Trust Co., and author of How to Pick Stocks like Warren Buffett
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About the Authors
Mary Buffett is a bestselling author and international speaker on the investment methods of her once-father-in-law, Warren Buffett, as well as an entrepreneur and political and environmental activist. She appears regularly on television as one of the top finance experts in America and has been the principal speaker for prestigious organizations around the world. She has worked successfully in a wide range of businesses, including extensive work as a consultant for several Fortune 500 companies. She lives in Southern California.
David Clark, a portfolio manager and friend of the Buffett family for over thirty years, is recognized as a leading authority on Warren Buffett’s investment methods. He lives in Warren’s hometown, Omaha, Nebraska.
About Karen White
Karen White has been narrating audiobooks of all genres since 1999. Honored to be included in AudioFile’s Best Voices, she’s also a four-time Audie Finalist and has earned multiple AudioFile Earphones Awards and Library Journal starred reviews.