The Warren Buffett Portfolio

Robert Hagstrom builds on his earlier study of Warren Buffett to explain focus investing, the practice of holding a small number of carefully chosen businesses for the long term rather than spreading bets thinly. He draws on probability, psychology, and the records of great investors to argue that concentration, paired with patience and strong nerves, can beat the market. It is a practical companion to Buffett’s approach, recommended by both Buffett and Munger.