How do we improve and optimize our investing decision making? How do we develop a better understanding of a company, its products, its present, and its future? Over the years, I have read all of the Letters to Shareholders of Berkshire Hathaway. I have read most of the books and articles about Warren Buffett, his teacher Benjamin Graham, and his business partner Charlie Munger. I have also listened to many hours of audio lectures and interviews. During this time, I have been consistently interested in how Warren Buffett and Charlie Munger "frame" an investment decision, and how they arrive at a winning investment prospect.
I believe that Buffett and Munger invented an amazing formula and process that is underappreciated by the business and academic communities. To be fair, many other great investors used quality checklists. And, many other great investors contributed "Best Practices" to the art of effective investing. Later in this book, I mention several contributors and thought leaders. This book is about the rational four filter process that help Buffett and Munger make better investing decisions.