Warren Buffett And Charlie Munger's Timeless Wisdom Draws Bill Ackman's Praise: 'This Is A Great Book'

Billionaire investor Bill Ackman has endorsed “Buffett & Munger Unscripted,” a compilation of decades of investment wisdom, calling it “a great book” on social media on Sunday.

What Happened: The Pershing Square Capital Management CEO’s praise comes as Warren Buffett, 94, announced plans to step down as Berkshire Hathaway Inc.’s BRK BRK chief executive by year-end, concluding one of corporate America’s most celebrated careers.

The book, authored by Alex Morris, presents insights from Buffett and his late business partner, Charlie Munger, through their annual shareholder meetings from 1994 to 2023.

It showcases how the duo transformed Berkshire from a failing textile mill into a conglomerate worth hundreds of billions.

Key investment principles highlighted in the book include opportunity cost evaluation, mental filtering techniques, and skepticism toward modern finance theory.

“Smart people do very stupid things,” Buffett is quoted as saying, emphasizing that emotional discipline outweighs raw intelligence.

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Why It Matters: The book’s popularity coincides with Buffett naming Greg Abel as his successor, triggering tributes from business leaders worldwide. At Saturday’s annual meeting in Omaha, Buffett received a standing ovation lasting nearly 10 minutes from thousands of shareholders.

Apple Inc. CEO Tim Cook called it “one of the great privileges of my life to know him,” while Microsoft Corp co-founder Bill Gates described Buffett as “one of the greatest CEOs ever” and “hands-down the most successful investor of all time.”

Despite accumulating a record $348 billion cash reserve, Buffett has maintained his investment philosophy, saying he’s ready to deploy $20 billion or even $100 billion given the right opportunity. This cash position follows Berkshire’s sale of two-thirds of its Apple position last year.

Buffett has also signaled unwavering confidence in Berkshire’s $20 billion Japanese trading companies, saying, “In the next 50 years, we won’t give a thought to selling those positions.”

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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