Allister Heath

‘What Stock Do You Like, Warren?’

The Snowball: Warren Buffett and the Business of Life

By

Bloomsbury 960pp £25 order from our bookshop

It was the exam question we all dreaded. Back in the mid-1990s, when I was an undergraduate at the London School of Economics, lecturers used to enjoy torturing students by posing a simple yet (to us) devastating question.

It went something like this. Given that modern economics states that it is virtually impossible to beat the markets for any extended period of time, how come Warren Buffett keeps on doing so, year after year? Does this mean finance theory is bunkum – or does it mean that Buffett cannot possibly exist, that he must instead be a figment of the media’s febrile imagination?

Sign Up to our newsletter

Receive free articles, highlights from the archive, news, details of prizes, and much more.

Follow Literary Review on Twitter

  • Last Tweets

    • 'I was dumbfounded by the view of the Berlin Wall from the eastern side. It seemed inconceivable that in under thre… ,
    • RT : Danger for ‘local’ staff, access in exchange for silence (and logos) - all sounds familiar in this fascinating look… ,
    • 'He has long been eclipsed by Vermeer, though his interiors are arguably more ambitious.' David Gelber on the Dutc… ,
    • 'The wicked are truly revolting and the rage is wholly understandable' on new thrillers by John Le… ,
    • In @aaciman's sequel to 'Call Me By Your Name', 'Erotic urgency has merged with middle age’s frugality of heart', s… ,
    • 'The repression of free speech in Uganda is common. Reporters Without Borders’ 2019 Press Freedom Index ranks Ugand… ,
    • RT : The Topeka School is out today! I reviewed it for and I'm psyched to see him talking at the Tate tonigh… ,