Cunningham brings you the latest wisdom from Warren Buffett’s annual
letters to Berkshire Hathaway shareholders. New material addresses:
the financial crisis and its continuing implications for investors, managers and society;the housing bubble at the bottom of that crisis;the debt and derivatives excesses that fueled the crisis and how to deal with them;controlling risk and protecting reputation in corporate governance;Berkshire’s acquisition and operation of Burlington Northern Santa Fe;the role of oversight in heavily regulated industries;investment possibilities today; andweaknesses of popular option valuation models.
Some other material has been rearranged to deepen the themes and lessons that the collection has always produced:
Buffett’s “owner-related business principles” are in the prologue as a separate subject andvaluation and accounting topics are spread over four instead of two sections and reordered to sharpen their payoff.
Media coverage is available at the following links:
Motley Fool, click here.
Money, Riches and Wealth, click here.
Manual of Ideas, click here.
Corporate Counsel, click here.
William J. Taylor, ABA Banking Journal, click here.
Bob Morris, Blogging on Business, click here.
Pamela Holmes, Saturday Evening Post, click here.
Kevin M. LaCroix, D&O Diary, click here.
On Finance issues (Columbia University), click here.
On Berkshire post-Buffett (Manual of Ideas), click here.
On Publishing the book (Value Walk), click here.
On Governance issues (Harvard University blog), click here.
Featured Stories/Recommended Reading:
Motley Fool, click here.
Stock Market Blog, click here.
Motley Fool Interviews with LAC at Berkshire's 2013 Annual Meeting
Berkshire Businesses: Vastly Different, Same DNA, click here.
Is Berkshire's Fat Wallet an Enemy to Its Success?, click here.
Post-Buffett Berkshire: Same Question, Same Answer, click here.
How a Disciplined Value Approach Works Across the Decades, click here.
Through the Years: Constant Themes in Buffett's Letters, click here.
Buffett's Single Greatest Accomplishment, click here.
Where Buffett Is Finding Moats These Days, click here.
How Buffett Has Changed Through the Years, click here.
Speculating on Buffett's Next Acquisition, click here.
Buffett Says “Chief Risk Officers” Are a Terrible Mistake, click here.
Berkshire Without Buffett, click here.
In The AIG Story, the company's long-term CEO Hank Greenberg (1967 to 2005) and GW professor and corporate governance expert Lawrence Cunningham chronicle the origins of the company and its relentless pioneering of open markets everywhere in the world. They regale readers with riveting vignettes of how AIG grew from a modest group of insurance enterprises in 1970 to the largest insurance company in world history. They help us understand AIG's distinctive entrepreneurial culture and how its outstanding employees worldwide helped pave the road to globalization. Corrects numerous common misconceptions about AIG that arose due to its role at the center of the financial crisis of 2008. A unique account of AIG by one of the iconic business leaders of the twentieth century who developed close relationships with many of the most important world leaders of the period and helped to open markets everywhere Offers new critical perspective on battles with N. Y. Attorney General Eliot Spitzer and the 2008 U.S. government seizure of AIG amid the financial crisis Shares considerable information not previously made public
The AIG Story captures an impressive saga in business history--one of innovation, vision and leadership at a company that was nearly--destroyed with a few strokes of governmental pens. The AIG Story carries important lessons and implications for the U.S., especially its role in international affairs, its approach to business, its legal system and its handling of financial crises.
While the principal tangible result of the conference was the publication of the international best-seller, <i>The Essays of Warren Buffett: Lessons for Corporate America</i>, the transcript of the symposium is now being made available with annotations and updated commentary that show just how timeless the topics are and how venerable the principles Buffett laid out remain. I had the honor of hosting the event, editing <i>The Essays</i>, and now publishing this archival treasure, with current assessments by such luminaries as Robert Hagstrom as well as several participants from the original symposium.