A BOOK on investing that is the only first edition signed by billionaire American investor Warren E. Buffett sold at an auction on Thursday for US$25,250 (RM78,780) in San Francisco.
Mitch Julis, founding partner of alternative asset management company Canyon Partners LLC in Los Angeles, bought the copy of Benjamin Graham’s The Intelligent Investor, signed by Buffett, Graham’s former protégé. It listed for US$3.50 when it was published in 1949.
The book helped pioneer the concept of value investing and provided a road map for Buffett, who invested in out-of-favour stocks to become the third-richest man in the world, currently worth US$45bil (RM140.4bil) according to Forbes magazine.
Buffett signed the copy after Patrick Wolff, co-founder of the San Francisco-based Excellence In Investing For Children’s Causes Foundation, requested his help. The proceeds of the auction will be donated by the foundation to various charities.
The Intelligent Investor is currently available as a revision to the fourth edition. – Bloomberg