In this Article, We Are going to address 16 Books Warren Buffett Recommend For you to Read
For those who don’t Know Who is Warren Buffett, well Warren Edward Buffett is an American business magnate, investor, and philanthropist, who is the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of US$82 billion as of July 18, 2019, making him the third-wealthiest person in the world.
1. The Intelligent Investor by Benjamin Graham
This classic text is annotated to update Graham’s timeless wisdom for today’s market conditions…The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham’s philosophy of “value investing” — which shields investors from substantial error and teaches them to develop long-term strategies — has made The Intelligent Investor the stock market bible ever since its original publication in 1949.
Over the years, market developments have proven the wisdom of Graham’s strategies. While preserving the integrity of Graham’s original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today’s market, draws parallels between Graham’s examples and today’s financial headlines, and gives readers a more thorough understanding of how to apply Graham’s principles.
Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.
2. Security Analysis by Benjamin Graham
“A road map for investing that I have now been following for 57 years.”
- Seth A. Klarman, president of The Baupost Group, L.L.C. and author of Margin of Safety
- James Grant, founder of Grant’s Interest Rate Observer, general partner of Nippon Partners
- Jeffrey M. Laderman, a twenty-five year veteran of BusinessWeek
- Roger Lowenstein, author of Buffett: The Making of an American Capitalist and When America Aged and Outside Director, Sequoia Fund
- Howard S. Marks, CFA, Chairman and Co-Founder, Oaktree Capital Management L.P.
- J. Ezra Merkin, Managing Partner, Gabriel Capital Group .
- Bruce Berkowitz, Founder, Fairholme Capital Management.
- Glenn H. Greenberg, Co-Founder and Managing Director, Chieftain Capital Management
- Bruce Greenwald, Robert Heilbrunn Professor of Finance and Asset Management, Columbia Business School
- David Abrams, Managing Member, Abrams Capital
3. Common Stocks and Uncommon Profits by Philip Fisher
“I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits…A thorough understanding of the business, obtained by using Phil’s techniques…enables one to make intelligent investment commitments.”
4. Stress Test: Reflections on Financial Crises by Tim Geithner
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5. The Essays of Warren Buffett by Warren Buffett
6. Jack: Straight From The Gut by Jack Welch
They called him Neutron Jack. They called him the world’s toughest boss. And then Fortune called him “The Manager of the Century.” In his twenty-year career at the helm of General Electric, Jack Welch defied conventional wisdom and turned an ageing behemoth of a corporation into a lean, mean engine of growth and corporate innovation. In this remarkable autobiography-a classic business book and runaway, New York Times bestseller now updated with a new afterword by the author-Jack Welch takes us on the rough-and-tumble ride that has been his remarkable life. From his working-class childhood to his early days in G.E. Plastics to his life at the top of the world’s most successful company, Welch tells his intensely personal story with his well-known fire and candour. And although it chronicles billion-dollar deals and high-stakes corporate standoffs, Jack is ultimately a story about people from a man who based his career on demanding only the best from others and from himself.
7. The Outsiders by William Thorndike, Jr.
“An outstanding book about CEOs who excelled at capital allocation.” — Warren Buffett
#1 on Warren Buffett’s Recommended Reading List, Berkshire Hathaway Annual Shareholder Letter, 2012
Named one of “19 Books Billionaire Charlie Munger Thinks You Should Read” in Business Insider.
“A book that details the extraordinary success of CEOs who took a radically different approach to corporate management.” — Charlie Munger, Vice-Chairman of Berkshire Hathaway Corporation
“Thorndike explores the importance of thoughtful capital allocation through the stories of eight successful CEOs. A good read for any business leader but especially those willing to chart their own course.” — Michael Dell, chairman of the board of directors and chief executive officer of Dell
What makes a successful CEO? Most people call to mind a familiar definition: “a seasoned manager with deep industry expertise.” Others might point to the qualities of today’s so-called celebrity CEOs—charisma, virtuoso communication skills, and a confident management style. But what really matters when you run an organization? What is the hallmark of exceptional CEO performance? Quite simply, it is the returns for the shareholders of that company over the long term.
In this refreshing, counterintuitive book, author Will Thorndike brings to bear the analytical wisdom of a successful career in investing, closely evaluating the performance of companies and their leaders. You will meet eight individualistic CEOs whose firms’ average returns outperformed the S&P 500 by a factor of twenty—in other words, an investment of $10,000 with each of these CEOs, on average, would have been worth over $1.5 million twenty-five years later. You may not know all their names, but you will recognize their companies: General Cinema, Ralston Purina, The Washington Post Company, Berkshire Hathaway, General Dynamics, Capital Cities Broadcasting, TCI, and Teledyne. In The Outsiders, you’ll learn the traits and methods—striking for their consistency and relentless rationality—that helped these unique leaders achieve such exceptional performance.
Humble, unassuming, and often frugal, these “outsiders” shunned Wall Street and the press and shied away from the hottest new management trends. Instead, they shared specific traits that put them and the companies they led on winning trajectories: a laser-sharp focus on per-share value as opposed to earnings or sales growth; an exceptional talent for allocating capital and human resources; and the belief that cash flow, not reported earnings, determines a company’s long-term value.
Drawing on years of research and experience, Thorndike tells eye-opening stories, extracting lessons and revealing a compelling alternative model for anyone interested in leading a company or investing in one—and reaping extraordinary returns.
8. The Clash of the Cultures by John Bogle
Mr Bogle recounts the history of the index mutual fund, how he created it, and how exchange-traded index funds have altered its original concept of long-term investing. He also presents a first-hand history of the Wellington Fund, a real-world case study on the success of the investment and the failure of speculation. The book concludes with ten simple rules that will help investors meet their financial goals. Here, he presents a common-sense strategy that “may not be the best strategy ever devised. But the number of strategies that are worse is infinite.”
9. Business Adventures: Twelve Classic Tales from the World of Wall Street by John Brooks
“Business Adventures remains the best business book I’ve ever read.” —Bill Gates, The Wall Street Journal
10. The Little Book of Common Sense Investing by Jack Bogle
The Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund pioneer John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks a broad stock market Index such as the S&P 500.
While the stock market has tumbled and then soared since the first edition of Little Book of Common Sense was published in April 2007, Bogle’s investment principles have endured and served investors well. This tenth-anniversary edition includes updated data and new information but maintains the same long-term perspective as in its predecessor.
Bogle has also added two new chapters designed to provide further guidance to investors: one on asset allocation, the other on retirement investing.
A portfolio focused on index funds is the only investment that effectively guarantees your fair share of stock market returns. This strategy is favoured by Warren Buffett, who said this about Bogle: “If a statue is ever erected to honour the person who has done the most for American investors, the hands-down choice should be Jack Bogle. For decades, Jack has urged investors to invest in ultra-low-cost index funds. . . . Today, however, he has the satisfaction of knowing that he helped millions of investors realize far better returns on their savings than they otherwise would have earned. He is a hero to them and to me.”
Bogle shows you how to make index investing work for you and help you achieve your financial goals, and finds support from some of the world’s best financial minds: not only Warren Buffett, but Benjamin Graham, Paul Samuelson, Burton Malkiel, Yale’s David Swensen, Cliff Asness of QAR, and many others.
This new edition of The Little Book of Common Sense Investing offers you the same solid strategy as its predecessor for building your financial future.
- Build a broadly diversified, low-cost portfolio without the risks of individual stocks, manager selection, or sector rotation.
- Forget the fads and marketing hype, and focus on what works in the real world.
- Understand that stock returns are generated by three sources (dividend yield, earnings growth, and change in market valuation) in order to establish rational expectations for stock returns over the coming decade.
- Recognize that in the long run, business reality trumps market expectations.
- Learn how to harness the magic of compounding returns while avoiding the tyranny of compounding costs.
While index investing allows you to sit back and let the market do the work for you, too many investors trade frantically, turning a winner’s game into a loser’s game. The Little Book of Common Sense Investing is a solid guidebook to your financial future.
11. Dream Big by Cristiane Correa
My friend – and now partner – Jorge Paulo and his team are among the best businessmen in the world. He is a fantastic person and his story should be an inspiration to everybody, as it is for me.” – Warren Buffett
In just over forty years, Jorge Paulo Lemann, Marcel Telles and Beto Sicupira built the biggest empire in the history of Brazilian capitalism and launched themselves onto the world stage in an unprecedented way.
Over the past five years, they have acquired no fewer than three globally-recognized American brands: Budweiser, Burger King and Heinz. This has been achieved as discreetly as possible and they have shunned any personal publicity.
The management method they developed, which has been zealously followed by their employees, is based on meritocracy, simplicity and constant cost-cutting.
Their culture is as efficient as it is merciless and leaves no room for mediocre performances. On the other hand, those who bring in exceptional results have the chance to become company partners and make a fortune.
Dream Big presents a detailed behind-the-scenes portrait of the meteoric rise of these three businessmen, from the founding of Banco Garantia in the 1970s to the present day.
In 1971, when the Brazilian stock market was going through a euphoria, Harvard graduate, tennis champion and underwater fishing enthusiast from Rio de Janeiro Jorge Paulo Lemann decided to start a new business. He assembled some partners and put out a newspaper ad: “Brokerage wanted.” Days later, Lemann began running what would become the cornerstone of his fortune and those of over 200 other people. Its name was Garantia.
The “Garantia model” was based on businesses that impressed Lemann, such as Goldman Sachs in finance and Walmart in retail. Its philosophy gave the best workers the opportunity to become shareholders.
12. The Most Important Thing Illuminated, by Howard Marks
“This is that rarity, a useful book.”–Warren Buffett
13. First a Dream, by Jim Clayton and Bill Retherford
14. Poor Charlie’s Almanack, edited by Peter Kaufman
Poor Charlie’s Almanack contains the wit and wisdom of Charlie Munger: his talks, lectures and public commentary. And, it has been written and compiled with both Charlie Munger and Warren Buffett’s encouragement and cooperation. So pull up your favourite reading chair and enjoy the unique humour, wit and insight that Charlie Munger brings to the world of business, investing and life itself. With Charlie himself as your guide, you are about to embark on an extraordinary journey toward better investment, decision making, and thinking about the world and life in general. Charlie’s unique worldview, what he calls a ‘multidisciplinary’ approach, is a self-developed model for clear and simple thinking while being far from simplistic itself. Throughout the book, Charlie displays his intellect, wit, integrity, and rhetorical flair. Using his encyclopedic knowledge, he cites references from classical orators to eighteenth- and nineteenth-century European literati to pop culture.
15. ‘Where Are the Customers’ Yachts?’ by Fred Schwed
“Once I picked it up I did not put it down until I finished. . . . What Schwed has done is capture fully-in deceptively clean language-the lunacy at the heart of the investment business.”
— From the Foreword by Michael Lewis, Bestselling author of Liar’s Poker“. . . one of the funniest books ever written about Wall Street.”
16. The snowball: Warren Buffett and the business of life by Alice Schroeder
The personally revealing and complete biography of the man known everywhere as “The Oracle of Omaha”—for fans of the HBO documentary Becoming Warren Buffett
Here is the book recounting the life and times of one of the most respected men in the world, Warren Buffett. The legendary Omaha investor has never written a memoir, but now he has allowed one writer, Alice Schroeder, unprecedented access to explore directly with him and with those closest to him his work, opinions, struggles, triumphs, follies, and wisdom.
Although the media track him constantly, Buffett himself has never told his full life story. His reality is private, especially by celebrity standards. Indeed, while the homespun persona that the public sees is true as far as it goes, it goes only so far. Warren Buffett is an array of paradoxes. He set out to prove that nice guys can finish first. Over the years he treated his investors as partners, acted as their steward, and championed honesty as an investor, CEO, board member, essayist, and speaker. At the same time, he became the world’s richest man, all from the modest Omaha headquarters of his company Berkshire Hathaway. None of this fits the term “simple.”
When Alice Schroeder met Warren Buffett she was an insurance industry analyst and a gifted writer known for her keen perception and business acumen. Her writings on finance impressed him, and as she came to know him she realized that while much had been written on the subject of his investing style, no one had moved beyond that to explore his larger philosophy, which is bound up in a complex personality and the details of his life. Out of this came his decision to cooperate with her on the book about himself that he would never write.
Never before has Buffett spent countless hours responding to a writer’s questions, talking, giving complete access to his wife, children, friends, and business associates—opening his files, recalling his childhood. It was an act of courage, as The Snowball makes immensely clear. Being human, his own life, like most lives, has been a mix of strengths and frailties. Yet notable though his wealth may be, Buffett’s legacy will not be his ranking on the scorecard of wealth; it will be his principles and ideas that have enriched people’s lives. This book tells you why Warren Buffett is the most fascinating American success story of our time.
In this blog, we’ll try to answer the following questions: What books made the most impact on Warren Buffett? Which books changed Warren Buffett’s way of thinking? What’s the best biography book on Warren Buffett? What 15 books influenced Warren Buffett the most? Best Warren Buffett Books? What does Warren Buffett read? Which books inspire Warren Buffett?