WARREN BUFFETT Quote : Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
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Wednesday, May 20, 2009

Michael Lewis Explains Why He's Not Betting Against Warren Buffett .. This Time

By: Alex Crippen
Executive Producer

New Republic magazine cover: The Oracle and the Crisis
A book review of Warren Buffett's authorized biography published last fall is featured on the cover of the latest New Republic magazine.

It's not especially timely, but it is especially interesting because the review was written by Michael Lewis, the well-known author of several business best-sellers, such as Liar's Poker and Moneyball.

Lewis likes The Snowball by Alice Schroeder, in part because she "sought to describe Buffett's psychological landscape as clearly as his financial one... For the reader, the results are pretty terrific ... but for Buffett they are no doubt upsetting."

In his lengthy review, Lewis focuses on some of the tidbits and themes from the book that Buffett might indeed not like very much, including his "pathological" childhood shoplifting, his life-long "diet of an eight-year-old", his "tendency to seek safe harbors", his physical and emotional "cowardice", and his "obsession with money."

Is Lewis attacking Buffett? Reuters blogger Felix Salmon sees it that way, writing a post headlined Michael Lewis Takes Down Warren Buffett.

Seeking Alpha and The Atlantic have posts defending Buffett, and Dealbreaker takes some pleasure in "excerpting the most juvenile parts" of the Lewis review.

But Lewis wraps up his piece with his own defense of Buffett.

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