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Buffett. The Making of an American Capitalist by Roger Lowenstein

Buffett. The Making of an American Capitalist by Roger Lowenstein

Since its hardcover publication in August of 1995, Buffett has appeared on the Wall Street Journal, New York Times, San Francisco Chronicle, Los Angeles Times, Seattle Times, Newsday and Business Week bestseller lists. The incredible landmark portrait of Warren Buffett’s uniquely American life is now available in paperback, revised and updated by the author.

Starting from scratch, simply by picking stocks and companies for investment, Warren Buffett amassed one of the epochal fortunes of the twentieth century–an astounding net worth of $10 billion, and counting. His awesome investment record has made him a cult figure popularly known for his seeming contradictions: a billionaire who has a modest lifestyle, a phenomenally successful investor who eschews the revolving-door trading of modern Wall Street, a brilliant dealmaker who cultivates a homespun aura.

Journalist Roger Lowenstein draws on three years of unprecedented access to Buffett’s family, friends, and colleagues to provide the first definitive, inside account of the life and career of this American original. Buffett explains Buffett’s’ investment strategy–a long-term philosophy grounded in buying stock in companies that are undervalued on the market and hanging on until their worth invariably surfaces–and shows how it is a reflection of his inner self.

What is forex?

Quite simply, it’s the global market that allows one to trade two currencies against each other.

If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.

If you’ve ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.

Foreign Exchange
You go up to the counter and notice a screen displaying different exchange rates for different currencies.

An exchange rate is the relative price of two currencies from two different countries.

You find “Japanese yen” and think to yourself, “WOW! My one dollar is worth 100 yen?! And I have ten dollars! I’m going to be rich!!!”
When you do this, you’ve essentially participated in the forex market!

You’ve exchanged one currency for another.

Or in forex trading terms, assuming you’re an American visiting Japan, you’ve sold dollars and bought yen.

Currency Exchange

Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed.

It’s these changes in the exchange rates that allow you to make money in the foreign exchange market.

Salepage : Buffett. The Making of an American Capitalist by Roger Lowenstein

About Author

ROGER LOWENSTEIN

ROGER LOWENSTEIN reported for The Wall Street Journal for more than a decade. His work has appeared in The Wall Street Journal, Bloomberg , The New York Review of Books, Fortune, The New York Times Magazine, and other publications. His books include Buffett, When Genius Failed, Origins of the Crash, While America Aged, and The End of Wall Street. He has three children and lives with his wife, Judy Slovin, in Newton, Massachusetts.