Preface to the Fourth Edition,
by Warren E. Buffett
I read the first edition of this book early in 1950, when I was nineteen. I thought then that it was by far the best book about investing
ever written. I still think it is.
To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information.
What?s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. This book precisely and clearly prescribes the proper
framework. You must supply the emotional discipline.