Daniel Pecaut

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About Daniel Pecaut
Daniel Pecaut is a Harvard graduate whose insights have been featured in the New York Times, Money Magazine, Grant's Interest Rate Observer, Outstanding Investor Digest, and the Omaha-World Herald.
He has worked in investing for 30+ years and is Chairman and Chief Investment Officer of a successful investment firm, Pecaut & Company.
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Blog postThis was a great read for me as a huge Buffett fan but an outsider to the finance/investment industry. The author wrote this in a very straightforward easy to read and understand format.4 years ago Read more
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Blog postA great book for investors of all levels of experience. You can learn a lot from the Oracle of Omaha.4 years ago Read more
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Blog postI find this book very knowledgeable and trustworthy. I would not have thought of the ideas presented in the text in years, or maybe I wouldn’t have thought of them at all. Overall I believe this is a great read if you are just starting to get into the investing world, or even if you’ve been in it for 10 years.4 years ago Read more
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Blog postAn inseparable companion to Corporate Essays of Warren Buffett. The book does a lot to illuminate and develop the value investing principles within the former. bottom line: Don’t read Corporate Essays without following it or preceding it with this book. It also helps that it’s extremely readable without being dry. The author truly does a service for veteran and would-be investors.4 years ago Read more
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Blog postThis was a great book, especially after completing my MBA. It will expand your perspective on business and investing. That said, I would recommend reading up on Buffet and Munger beforehand, so you have a sense of his life and business investments as you go through the 30 years of shareholder meetings.4 years ago Read more
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Blog post30 years of Buffett and Munger's wisdom complied in a single book. Great way to time travel and soak up on the wisdom of 2 wise men. I throughly enjoyed reading it. Regards, Jana4 years ago Read more
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Blog postI always learn something new or think in new ways after reading Dan Pecaut's writings...his thoughtful dialog helps elucidate the philosophy and technical trends of the markets, and I am looking forward to reading his paen to Warren Buffet's influence on his professional life.4 years ago Read more
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Blog postThis book is a MUST read for anyone who has ever been, is, or ever plans to be interested in financial gain as well as the stock market and one of the greatest financial successes of our lifetime, Warren Buffett. However, this isn't your typical financial advising book, nor is it a biography of Warren Buffett and Charlie Munger. Daniel Pecaut's obvious love of these two financial geniuses shows brilliantly in his book "University of Berkshire Hathaway." Pecaut summarizes and details th4 years ago Read more
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Blog postA very nice overview of Buffet and Munger's thoughts and insights over the decades. Since it is a synopsis of annual newsletters reviewing the annual reports, there is a fair amount of reinforcement and a lack of retrospective on previous year's commentary. However, that also reinforces their maxim of never getting caught up in the macro environment while focusing on valuation, moats, and management. The authors are also willing to posit the occasional question and avoid a feeling of breathl4 years ago Read more
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Blog postA very nice overview of Buffet and Munger's thoughts and insights over the decades. Since it is a synopsis of annual newsletters reviewing the annual reports, there is a fair amount of reinforcement and a lack of retrospective on previous year's commentary. However, that also reinforces their maxim of never getting caught up in the macro environment while focusing on valuation, moats, and management. The authors are also willing to posit the occasional question and avoid a feeling of breathless4 years ago Read more
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Blog postMUST READ for anyone even thinking about trading in the market despite his views on our future cryptocurrencies4 years ago Read more
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Blog postThis book is a very focused collection of Buffett and Munger’s remarks over 30 years of Berkshire Hathaway shareholder meetings. It succeeds at not only recording their words but also contextualizing what they meant each individual year. A great way to not only absorb some of their investing wisdom but also to see Berkshire evolve year by year through contemporary commentary. It serves as a great historical document.4 years ago Read more
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Blog postIf you're a Buffett fan like me, buy this and read it. Worth every penny. Since it's chronological, you get a good sense of when what happened in BH history as Charlie and Buffett recount many anecdotes since the "present management took over." Also you get to know what they said and did during dotcom bubble, ensuing recession later, financial crisis etc. It's a bit repetitive but net-net it's a buy.4 years ago Read more
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Blog postFantastic book. In not-so-many words, a Cliff's Notes to the annual meetings. As the saying goes, "repetition is a good thing"! One can't help but pick up on the repetitive themes that are filled with wisdom. Not only a great book for investor but also for young people to learn and live by.4 years ago Read more
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Blog postRelished to the hilt If you're a Buffett fan like me, buy this and read it. Worth every penny. Since it's chronological, you get a good sense of when what happened in BH history as Charlie and Buffett recount many anecdotes since the "present management took over." Also you get to know what they said and did during dotcom bubble, ensuing recession later, financial crisis etc. It's a bit repetitive but net-net it's a buy.4 years ago Read more
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Blog postDaniel sent me a copy of his book after reading a review I left on another book about value investing; however, this in no way influences the review below. This book is an extraordinary compendium of knowledge. I am young and early in my investing practice, and have no other way to learn from these shareholder meetings. I am grateful that Daniel and his co-author, Corey Wrenn, took detailed notes and shared them with the public. Each year’s summary begins with a snapshot of attendance numbers4 years ago Read more
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Blog postI loved the layout of the book and how all the figures were available and easy to understand. Will use as a reference later.4 years ago Read more
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Blog postBeing a neophyte at investing, I had the opportunity to discover and read this collection of Berkshire Hathaway annual meeting summaries. The nuggets of wisdom from Warren Buffet and Charlie Munger were interesting as well as enlightening. They presented principles for the investor in companies to consider before the initial purchase and strategies to follow to be successful. Their comments about how and why they acquired certain companies and how they contributed to the overall value of Berksh4 years ago Read more
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Blog postUnique Approach to an Education in Finances Being a neophyte at investing, I had the opportunity to discover and read this collection of Berkshire Hathaway annual meeting summaries. The nuggets of wisdom from Warren Buffet and Charlie Munger were interesting as well as enlightening. They presented principles for the investor in companies to consider before the initial purchase and strategies to follow to be successful. Their comments about how and why they acquired certain companies and how th4 years ago Read more
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Blog postThis is an amazing book. I really loved reading it. The way the authors have attended the meetings, taken notes and shared through this book is amazing. Their sheer act of attending the meeting year-after-year and taking rigorous notes is what great discipline is all about. Thank you for bringing this book out.4 years ago Read more
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Blog postI've been a fan of Warren Buffett and Charlie Munger for years. I really enjoyed reading this book it's full of wise investment lessons.4 years ago Read more
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Blog postGood book to briefly catch the advises shared over the years. Shared a number of business fundamentals which are gems.4 years ago Read more
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Blog postI've been a fan of Warren Buffett and Charlie Munger for years. I really enjoyed reading this book it's full of wise investment lessons.4 years ago Read more
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Blog postI’ve read every title covering Warren Buffett and Charlie Munger and I’ve come away with something from each one. That said, many can seem repetitive on subject matter and distant regarding Buffett. Daniel’s work is unique in these areas in that he’s followed Berkshire for decades and personally, or through his partner, recorded all anecdotes and lessons from 30+ annual meetings at Berkshire - the information is impressive even for a cult member like me. The organization and layout of the infor4 years ago Read more
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Blog postWhile nowhere near as in-depth as reading Buffet's annual reports themselves, these meeting notes offer great insight into Buffet and Mungers investment strategies as well as their general mental framework and economic outlook. The repetitions in the book serve to drive home key points--"Just buy good businesses and hold them for the long term", etc. The chapters are short and sweet. The language is easy to read. Good footnotes complement the text and provide additional information. Ov4 years ago Read more
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Blog postI just started reading this book and I am already enjoying it very much. I only attended the past 4 BRK meetings. So I am humbled by 30 years of experience and note taking. I wish I had started earlier.4 years ago Read more
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Blog postThis book distinguishes itself in many ways from other similar efforts - notably by virtue of first hand accounting of the material. Few can claim the attendance record of the author. The context and commentary offered shed perspective on the material presented. Having read many other efforts in this "genre" I now make this my first recommendation to those embarking on the Buffet/Munger/Berkshire learning path. I also suggest leaning on University of Berkshire as a reference tool for c4 years ago Read more
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Blog postThis book distinguishes itself in many ways from other similar efforts - notably by virtue of first hand accounting of the material. Few can claim the attendance record of the author. The context and commentary offered shed perspective on the material presented. Having read many other efforts in this "genre" I now make this my first recommendation to those embarking on the Buffet/Munger/Berkshire learning path. I also suggest leaning on University of Berkshire as a reference tool for c4 years ago Read more
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Blog postThis is an outstanding book. As the Bible tells us, seek wisdom and knowledge above silver and gold. A recommended read for those looking to learn more about value investing or how to build a great company step buy step.4 years ago Read more
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Blog postI've long been an admirer of Warren Buffet. Years ago I was in a business training seminar and the presenter suggested we choose a business person we admire and copy them. I chose Warren Buffet and learned all I could about him. It's refreshing to revisit those thoughts and feelings I had then as I was taken through the 30 years of the Annual Shareholders Meetings as viewed through the eyes of two very talented and successful investors. The wisdom and wit of both Warren Buffet and Charlie Munge4 years ago Read more
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Blog postThis is an amazing book. I really loved reading it. The way the authors have attended the meetings, taken notes and shared through this book is amazing. Their sheer act of attending the meeting year-after-year and taking rigorous notes is what great discipline is all about. Thank you for bringing this book out.4 years ago Read more
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Blog postA lot of useful advice from the Warren Buffett and Charlie Munger. Certainly something I am going to re-read from time to time.4 years ago Read more
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Blog postI like this book. Like many people perhaps, over the years I've set aside the Buffet letters with intentions to read them, but they never seem to rise to the top of the heap. So this collection of summaries of Berkshire Hathaway annual meetings fit my needs well. This book needs to be studied and not read, though. Periodically -more than I would have thought- I encountered unfamiliar phrases that seem to be important concepts that sent me digging deeper elsewhere. I really didn't want to fini4 years ago Read more
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Blog postI read (and thoroughly enjoyed) this book a couple of months ago. It's on my short list of favorite investment books of the year. I'm staring at a bookshelf with hundreds of investing titles, and "University" is a fine addition. There’s quite a bit here for neophytes, general business afficionados, and Buffett-aholics alike.4 years ago Read more
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Blog postEnjoyed this book. If you are a Buffet, Munger fan you will too. Good review of berkshire hathaway annual meetings.4 years ago Read more
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Blog postVery Good Read Nicely written summary of AGMs of Berkshire Hathway and teachings of Professors Buffet & Munger. A must read for a value investor.4 years ago Read more
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Blog postVery Good Read Nicely written summary of AGMs of Berkshire Hathway and teachings of Professors Buffet & Munger. A must read for a value investor.4 years ago Read more
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Blog postWould you be willing to copy and paste your review to Amazon? It would mean a lot to me. A great summation of how Berkshire Hathaway started out and how each decision from Buffett and Munger made it an amazing corporation that keeps on giving.4 years ago Read more
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Blog postI've read a lot of books about Warren and Charlie and Investing in general. This one I highly recommend to people who are just starting to dive into the fascinating world of investing and people who want to learn excellent life advice from two of the most successful investors. It is an easy read, unlike books like The Essays of Warren Buffet which is much harder to follow. If you still have doubts about the quality of this book check out my blog post on karlbooklover dot com.4 years ago Read more
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Blog postA great summation of how Berkshire Hathaway started out and how each decision from Buffett and Munger made it an amazing corporation that keeps on giving.4 years ago Read more
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Blog postLoved the book. Have come across many books on Berkshire letters, but none on the shareholder meetings. This book does an excellent job of crystallizing 5-6 hour long annual meetings into a few pages packed with insight and Warren & Charlie's inimitable humor.4 years ago Read more
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Blog postgreat book and distillation of buffett/munger's key teachings over the years4 years ago Read more
Titles By Daniel Pecaut
Will there ever be another investing book like this? It's unlikely.
University of Berkshire Hathaway is a remarkable retelling of the lessons, wisdom, and investment strategies handed down personally from Warren Buffett and Charlie Munger to shareholders during 30 years of their closed-door annual meetings.
From this front row seat, you'll see one of the greatest wealth-building records in history unfold, year by year.
If you're looking for dusty old investment theory, there are hundreds of other books waiting to cure you of insomnia. However, if you're looking for an investing book that's as personal as it is revelatory, look no further.
Packed with Buffett and Munger's timeless, generous, and often hilarious wisdom, University of Berkshire Hathaway will keep serious investors turning pages late into the night:
- Get unique insight into the thinking, strategies, and decisions--both good and bad--that made Buffett and Munger two of the world's greatest investors.
- Understand the critical reasoning that leads Buffett and Munger to purchase a particular company, including their methods for assigning value.
- Learn the central tenets of Buffett's value-investing philosophy "straight from the horse's mouth."
- Enjoy Munger's biting wit as he goes after any topic that offends him.
- Discover Buffett's distaste for "commonly accepted strategies" like modern portfolio theory.
- See why these annual meetings are often called "an MBA in a weekend."
During one particularly bad winter, Daniel's health started deteriorating rapidly in a downward spiral that lasted months. This free fall lasted until a life-altering appointment at the Mayo Clinic gave him the diagnosis: Bronchiectasis.
But their only advice for him going forward was, "Don't get sick."
Realizing his doctors had written him off, Daniel went into denial. His situation was dire--he was dying. But if he wanted to live, he had to take control of his health. Daniel built a healing dream team, including a medical concierge, and started moving slowly but surely on the journey to optimum health.
As his story progresses, Daniel describes in great detail the tips and treatments he learns along the way. He describes how he found them, how he used them and what each of them did for him. The combined results of which were life-changing.
After 18 months of following his regime every day, he regained his vitality and energy. Instead of waking up exhausted after sleeping for 14 hours, he now felt rested after eight. Instead of getting winded while walking, he could comfortably run a 10K (6.2 miles) in an hour. He increased his lung capacity and cleared out the mucus in his lungs and sinuses. In the end, he was finally able to breathe deeply and easily once again.
His resounding victory is proof that you don't have to lie down and suffer in the face of debilitating illness.
"I'm spiritual, not religious." I've heard this a zillion times. I've even said it myself. Yet, if we are spiritual, what are we doing about it? What is our practice?
This is one of the great struggles of our modern era.
There is much that has discredited conventional religion. However, it is not enough to simply distance oneself from old-line religious practices.
We need to find spiritual paths that are robust enough to meet us where we are and take us where we need to go.
How does one find such a path and pursue it with integrity?
For me, Zen is an answer.
Instead of being a dogma or set of beliefs, Zen is a practice. Zen is the art of being still and experiencing the deepest truth of who we are. This is simple, but not easy.
The practice of Zen offers structure with teachers, teachings, and community (called sangha). I find these elements essential and a much-needed antidote to our "do-it-yourself" culture.
I am eternally grateful to my teachers for their fierce love, deep insights, and compassionate encouragement.
My path began with Jun Po Roshi of the Hollow Bones/Mondo Zen order. He introduced me to Rinzai Zen and his brilliant Mondo Zen Koan process. I eventually received ordination from him as a Rinzai Zen priest in 2014. His words still ring in my head and heart, continuing to guide me in my practice--even though he passed away in 2021.
In recent years, his student, Doshin Roshi, has been my primary teacher. Doshin Roshi is the founder of Integral Zen. He has deepened Jun Po's Mondo Zen Koan process by integrating shadow, trauma, and attachment work into the practice.
In 2009, I started my own local zen meditation group, Siouxland Zen. This group has been a great blessing to me in supporting and evolving my own Zen practice. Twelve years later, we still sit every Monday and Wednesday evening (with special gatherings and retreats along the way).
Each week, I have written them notes of encouragement and personal reflections inspired by poetry and prose from sages (past and present). This book compiles a selection of those lessons here. As you will see, the influence of my teachers is woven throughout.
This book is a gentle encouragement to give Zen a try.
Above all, Zen is experiential. Only by sitting in stillness will you have any idea what all the fuss is about. One sit. One taste. That's all it takes. Once you've had the experience, you can decide for yourself whether Zen practice is for you.
If you already have a meditation practice, it's an encouragement to go deeper.
Here's hoping this little book will inspire you to sit!
完整重現當代最不可思議的投資盛會!
影響你一生最棒的致富建議與啟發、令人拍案叫絕的策略分析,
還有震驚的內幕、幽默的省思,皆在其中。
我們何其有幸,能與巴菲特與查理‧蒙格生活在同一個世代,
得以見證當代最偉大投資者,展現人類極限值的「財富製造」能力:
★典藏金融史上最耀眼的複利曲線
如果你在1964年買進1股波克夏的股票,到了2017年底,
這張股票會膨脹24,047倍,也就是持續五十三個年頭、20.9%的年化報酬率。
這個驚人的績效不但前無古人,很可能也將後無來者。
★遠勝世上任何一所頂尖商學院的MBA課程
本書詳盡記錄了過去三十年間,
巴菲特與蒙格在波克夏股東會上的思維脈絡,
內容涵蓋投資心法、市場分析、產業觀察、公司治理與人生習題等範疇,
透過淺白而清晰的紀實方式娓娓道來,
無論你是巴菲特迷、職業股東、專業經理人或價值投資的信徒,
都能將能從中咀嚼出最精彩絕倫的洞見。
★波克夏大學,&
Daniel Pecaut und Corey Wrenn haben quasi stellvertretend für ihre Leser regelmäßig die Aktionärstreffen beim "Orakel von Omaha" besucht und mitgeschrieben. "University of Berkshire Hathaway" ist das Skript von 20 Jahren Omaha. Die Autoren zitieren die wichtigsten Aussagen der Investment-Gurus, ordnen ein und erklären Hintergründe. Ein geniales "Tagebuch" für alle Buffett- und Munger-Fans und ein unverzichtbarer Ratgeber für alle Value-Investoren.