Rule #1

[4/14/06] Suppose you studied the investment style of Warren E. Buffett — really studied it. In fact, you became so intrigued with Mr. Buffett that you then parsed the works of the men he learned from — Benjamin Graham and David Dodd, the authors of "Security Analysis," which was first published more than 70 years ago. Then you filtered all this with the insights you gained from reading investing and management gurus like Peter Lynch, Jim Collins and James J. Cramer.

If you took all that learning, wrote an investment book and hyped it substantially, would it sell?

Probably.

But would it ultimately make people rich?

That is the very real question to ask about "Rule #1" (Crown/Random House, $25) by Phil Town, a former Green Beret and river guide turned financial guru.

[via brknews]

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[5/28/06] Phil Town explains the idea.

First, identify a really wonderful business that you love. You know great companies because you spend money with them: Bed, Bath & Beyond, Chico’s, Budweiser, Harley Davidson, and Whole Foods Market are a few. You want to buy it on sale. You never pay retail. When it stops being on sale, you sell it, and then you go find another one and repeat it over and over again, until you get rich.

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[8/29/06] Foolish book review

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[5/2/11] Hey happened to see the book at BookOff PearlRidge on Saturday (first time I've been there). And bought it. Cost me a dollar. (Talk about your partient value investing.)