A new biography The Snowball: Warren Buffett and the Business of Life has been published , a million copies by Bantam Dell of which Buffet received $7 Million. The timing of its publication coincides with the greatest financial crisis since the Depression.
The title refers to a Buffett saying “Life is like a snowball. The important thing is finding wet snow and a really long hill.”
Recent financial crisis has been prime hunting season for Buffett, famous for snapping up high-quality investments at bargain prices.
On Sept. 24 Buffett agreed to invest up to $10 billion in Goldman Sachs (GS: 128.52, +7.82 ) .
On Sept. 18, Buffett’s Mid American Energy Co. bought Constellation Energy Group for $4.7 billion in cash — a discount of 60% from which the shares were trading two days prior.
Last week he acquired a 10% stake in the firm BYD Co , a Chinese producer of rechargeable batteries, electric cars and car parts.
Life is Good for the Oracle of Omaha.