Alice Schroeder, the author of an upcoming biography of Warren Buffett, had never written a book before she sold the proposal. Her advance? $7 million. The publisher, Bantam Dell, is obviously banking on the immense popularity of Buffet. It should be a good read because Buffett opened the files of Berkshire Hathaway to Schroeder and instructed his friends and family to talk to her.
The writing also was challenging because the book, largely chronological, will have excerpts of Buffett's letters and other writings.
"He's a masterful writer," Schroeder said, with an engaging, conversational style. "Writing alongside Warren Buffett's quotes was an immense challenge. If the book succeeds, people shouldn't feel jarred when they go from his words to mine."