A Few Lessons for Investors and Managers From Warren Buffett

Peter Bevelin's short distillation of Warren Buffett's investment and operating principles, drawn directly from the Berkshire Hathaway shareholder letters and arranged as a compact reference. The book functions as a cheat sheet to Buffett's philosophy — margin of safety, circle of competence, owner earnings, the partnership attitude — organized for quick reading rather than full-letter immersion.

Buffett recommended this book in his 2011 letter: 'I think you'll also like a short book that Peter Bevelin has put together explaining Berkshire's investment and operating principles. It sums up what Charlie and I have been saying over the years in annual reports and at annual meetings.' For a founder who hasn't read the full run of Berkshire letters, this is the most efficient entry point — a condensed version of Buffett's thinking on capital allocation, the partnership model, and the difference between price and value. It is also a useful reference for founders who have read the letters but want a topical index to revisit specific ideas without searching through decades of documents.