10 Books Warren Buffett Thinks You Should Read, Recommended By Stock God
10 Books Warren Buffett Thinks You Should Read, Recommended By Stock God,
such as The Intelligent Investor,Security Analysis,Stress Test,The Outsiders
Warren Buffett Book Recommendations 2024. Today we will share 10 Books Warren Buffett Thinks You Should Read, Recommended By Stock God.
Books Warren Buffett thinks everyone should read, Warren Buffett book recommendations 2024
We’ll be diving into 10 Books Warren Buffett Thinks You Should Read. Because a few fresh perspectives and fresh strategies may be all you need to expand your reading list.
For someone as successful as he is, you would not expect Warren Buffett to have a lot of time to catch up on his reading.
Warren Buffett the CEO and Founder of Berkshire Hathaway is an avid reader. When Warren Buffett started his investing career, he would read 600, 750, or 1,000 pages a day when he began his career as an investor.
At the 2007 Berkshire shareholder meeting, a young man from San Francisco asked Buffett, what is the best way to become a good investor? Buffett’s answer is reading.
He said:
“When I was 10 years old, I read all the books on investment that I could find in the Omaha Public Library. I read many books twice. Go into your own mind and over time, figure out what is reasonable. Once you do this, it’s time to get into the water (try)."
Nine years later, the just-concluded Buffett shareholder's meeting is still the focus of global investors, and the world's exploration of the secret of Buffett's success has never faded. Buffett once said that he spends 80% of his time reading every day.
To promote reading, a special program was set up at the annual general meeting of shareholders, that is, some discounted books or CDs were sold at the booths of the big market.
In fact, books Warren Buffett thinks everyone should read so below are 10 Books Warren Buffett Thinks You Should Read, and good works were recommended.
10 Books Warren Buffett Thinks You Should Read
Many multi-millionaires and billionaires like Mark Zuckerberg, Bill Gates, Elon Musk, Warren Buffet, and Oprah Winfrey, all have a common habit and that is the habit of reading books, they read a lot and you find that most recommend one title or another every other time.
These recommendations cover a wide range of topics, and having a general understanding of what they entail will make it easier for you to select them for reading. This article, Practical Wisdom brings you the best books recommended by Warren Buffett in 2024 that are definitely worth reading.
In this article, I will share with you 10 books that this successful entrepreneur has reviewed and recommended for anyone who wants to attain success. Enjoy!
Here are 10 Books Recommended By Stock God Warren Buffett. If we are not destined to be richer than Buffett, we can at least be more diligent than him.
1. The Intelligent Investor
by Benjamin Graham
"I read this book as early as 1950 when it was published. I was only 19 years old. At that time, I thought it was the greatest investment book ever. I still think so." Buffett said.
The book by Graham, the father of value investing, taught him, "Being a successful investor in a lifetime does not require a very high IQ, extraordinary business insights, and inside information.
You only need reliable knowledge for decision-making. The framework, and the ability to avoid emotions influencing decision-making."
Promising review:
So far in my career, this book has un-ironically been one of the greatest investments I have made so far.
This is a great book for anyone who is interested in introducing themselves to the world of investing or wants to hone their skills and better themselves. Although, it while a great book I would not recommend it to anyone who doesn't have the discipline to treat this book like a college textbook.—Read More—Tarek
2. Security Analysis
by Benjamin Graham
Graham's classic is a must-read book for professional investors. The main point of this book is that if your analysis is thorough enough, you can estimate the value of a company. Buffett said this book is like an investment road map, and he has followed 57 years.
Promising review:
This book was made famous by Warren Buffet, but you probably already know that. Will it teach you to invest like Warren? Yes, the fundamentals are there and so are the valuation techniques. In today's rough and tumble world, it's hard to say that it still applies. On a very basic level, yes it does.—Read More—Mike
3. Common Stocks and Uncommon Profits
by Philip A. Fisher
This is what Buffett solemnly recommended at the 2017 shareholders' meeting. He once said, "Happily, there is not only one road to the investment paradise. In both types of quantitative analysis and qualitative analysis, skilled and discerning practitioners can get rich reviews.
I am very fortunate when I was young, I met two masters who represented the two types of investment styles. Combining the ideas of the two masters gave me tremendous benefits.” After
reading this book, Buffett immediately thought of Way to Meet Philip Fisher. Fisher's son recalled that at that time Buffett did not have a reputation as the future, and he was always proud of Fisher's history of seeing him and willing to see him again.
"When I met him, he impressed me as much as his thoughts. Fisher was very much like my mentor Ben Graham, he was very humble, and he was also very generous in spirit. A very outstanding teacher."
Promising review:
As for the contents of the book, I see 3 distinct areas:
1. Very detailed description of the scuttlebutt method (the most valuable part, in my opinion),
2. Mr. Fisher's insights when considering particular circumstances connected with investing,
3. The last chapter is a step-by-step guide on how to be Mr. Fisher (or work like him at least).—Read More—Maciej Chałapuk
2. Mr. Fisher's insights when considering particular circumstances connected with investing,
3. The last chapter is a step-by-step guide on how to be Mr. Fisher (or work like him at least).—Read More—Maciej Chałapuk
4. Stress Test
by Timothy F. Geithner
Former US Treasury Secretary Geithner described how he led a government department in the financial crisis. Buffett once said that this book is a must-read for every manager. Detail Book Reviews
Promising review:
Overall I really liked this book. While Tim Geithner is not a writer and his style is definitely not of a thriller, the portrait of the crisis from his view definitely contributes to the overall understanding of the financial crisis of 2008.
This book should not be taken as a "stand-alone" but read in the context of all the other ones out there about the crisis itself. It helps one to form their opinions in a clear and fair way in my opinion.—Read More—LSBerg
5. The Essays of Warren Buffett
by Lawrence A. Cunningham
This book collects and organizes the essence of Buffett’s letters to shareholders for more than 20 years, each of which explains part of his career and investment philosophy.
Buffett has said:
"In a quiz, what else is better for you than your opponent thinks and wastes energy?"
Promising review:
I enjoyed this book. Warren Buffett stands for something far greater than himself or the wealth he has generated. He is in what he does rather countercyclical, rather old-fashioned, and fabulously good.
These essays introduce us to Buffett's way of thinking and doing business. There's a lot to learn from both aspects. Some of the books are rather technical, but most are straightforward enough, and I found many places where he made me think. I think our world at many levels- individual, corporate, and the government would be better if we adopted many of Buffett's ideas.—Read More—Dr. Peter Davies
6. Jack: Straight from the Gut
by Jack Welch
Analyzing the company, especially the management of the company, is necessary homework for investors. For managers, Buffett quite liked the work of Jack Welch. In a shareholder letter in 2001, Buffett praised the book and suggested to his readers: "Go buy one and have a look!"
Welch’s autobiography was bought by Time Warner for the North American copyright at an astronomical US$7 million before he started writing, surpassing all autobiographical authors in history.
In the book, he tells how to grow from a working-class child to the CEO of General Electric. He uses any part of the book to introduce his management ideas and experience to readers. At the end of the book, he also puts forward more than 20 tips about being a CEO. Hard work experience.
Promising review:
I really liked this product. I like listening to the ups and downs of big business. I don't own such a business and am glad I got to see what this giant of the industry had to say. I liked the fact that Jack narrated the book too. I liked that he showed that he came from poor immigrants just like everyone else did who were happy to be of service to the company he worked for.—Read More—Sally spring
7. The Outsiders
by William N. Thorndike
Thorndike's book tells about the successful models of the executives of companies such as THE POST and Purina.
Buffett evaluated this book as "an outstanding book on CEOs who are good at capital allocation."
Promising review:
If you never picked up a book and only got information through financial media outlets you would think the best CEOs ever were Jack Welch, Donald Trump, Mark Cuban, and a few others who love media attention. I’ve always been obsessed with reading business biographies, especially on those CEOs who are rarely interviewed on CNBC. Oftentimes these less visible CEOs have track records far greater than their counterparts. I want to learn how they grew their companies and built shareholder value.—Read More—MicroCapClub
8. The Clash of the Cultures
by John C. Bogle
The Vanguard founder believes that long-term investment is being crowded out by short-term speculation. Buffett recommended this book in a letter to shareholders in 2012.
Promising review:
I've read lots of investment books about the market and investment strategies. Bogle presents a well-written account of the changes that have occurred in recent decades including very high levels of turnover, the inherent conflict between fund managers and their customers, and the creation of mutual funds, index funds, and ETFs. I found the comparison between fund managers (mutual, privately held, and publicly traded) to be fascinating.—Read More—John Riplinger
9. Business Adventures
by John Brooks
Shortly after getting acquainted in early 1991, Bill Gates asked Buffett which book on business he liked best, and Buffett gave him his "Business Adventures".
Promising review:
The book details twelve stories from the business world, mostly occurring in the 1950s and 1960s. These stories cover such subjects as the infamous failure of the Ford Edsel, the experience of a few large companies' stockholder meetings, the rise of Xerox, and a particularly fluctuating market in May 1962, among others.
For the most part, I found this book to be quite an interesting look at various business and financial stories. The author is quite thorough in his descriptions and also looks at several of the people involved. In some cases, he seems to have actually interviewed several of the individuals involved in these stories.—Read More—Andrew
10. Where Are the Customers' Yachts?
by Fred Schwed
Buffett said: "This book was first published in 1940. It is the best book ever published on the subject of investment. It wisely explains many insights on the subject of investment."
Promising review:
So, you want to make money on Wall Street? A good idea only is wary of investment counselors, stockbrokers, or anyone purporting to have all the answers, such as authors of books on investing. Fortunately for us, Fred Schwed is not among them. His is a cautionary tale. He's worked on the Street and knows of its many pitfalls.—Read More—Ricardo Mio
And More (7+) Books Recommended By Stock God Warren Buffett
1. Charlie Munger "Poor Charlie's Almanack"
Charlie Munger is a contemporary investment guru and Buffett’s 45-year-old partner. Buffett believes that Munger has enriched his investment system instead of relying solely on Graham's theory.
Buffett said:
"You will never find a book that contains more useful ideas than this book."
Bill Gates said:
"This book showing Munger's wisdom should have been published long ago."
2. Peter Lynch's "Learn to Earn" & "One Up On Wall Street"
Peter Lynch once recalled that after the publication of his book "Learn to Earn", Buffett read it carefully and felt that he liked it very much, so he called Lynch’s home directly. The result was almost regarded as a prank. Buffett is already quite famous.
3. John C. Bogle's "Common Sense on Mutual Funds" & "The Little Book of Common Sense Investing"
Buffett not only recommended John C. Bogle's book but also recommended fund products under the Vanguard Fund founded by John C. Bogle.
If you know how cautious Buffett is, you will understand how unusual this is. Everyone knows that Buffett has a rule of never recommending any stocks or any funds, except for S&P index funds.
At the 2017 shareholder meeting that just ended, he introduced to everyone Bogle at the meeting and also mentioned that he had asked his wife to buy index funds instead of continuing to hold Berkshire stocks.
4. John Keynes's "The General Theory of Employment, Interest, and Money" & "The Economic Consequences of the Peace"
According to statistics, Buffett’s mentor Benjamin Graham has cited the most famous quotes in his letter to shareholders in the past 40 years. But who is the second most quoted quote?
Keynes is not only a great economist but also a master of investment, his investment achievements can be compared with economic research achievements.
Buffett highly praised Keynes’s investment thoughts and especially recommended two of Keynes’s masterpieces: One is "The General Theory of Employment, Interest, and Money), and the second is "The Economic Consequences of the Peace", which is a collection of letters about his investment thoughts with many expressions. Directly refers to the nature of the investment.
5. Adam Smith's "The Money Game"
This book was first published in the 1960s. At that time, Buffett recommended to everyone for the first time, “You should go out immediately and quickly buy a copy of Adam Smith’s "Money Game". This book has an impact on the current financial market. I made a very vivid record. This book is full of deep insight and super funny humor. "
It was the book "Money Game" that made the authors Adam Smith and Graham friends, and because of this, they met At that time, Buffett was still unknown.
Since then, Adam Smith made a special trip to Omaha to interview Buffett and made Buffett appear on the famous financial TV show "Adam Smith's Money World" he hosted. This was the first time Buffett appeared on TV.
In 1972, Adam Smith published an updated version of "Super Money", which used a lot of space to introduce Buffett's excellent investment performance and his value investment strategy.
6. Galbraith, "The Great Crash 1929"
The most famous book describing the 1929 crash is "The 1929 Crash" by the famous American economist John Kenneth Galbraith. Buffett believes that the best way to learn is to learn from mistakes, especially from the mistakes of others. The biggest bear market in the US stock market, the 1929 crash, is the best lesson. Detail Book Reviews
7. Donald Keogh, "The Ten Commandments for Business Failure"
This is another major work written by Buffett himself, but its content is capable and concise. The author Donald Keogh is the president of The Coca-Cola Company. Based on his life experience in Coca-Cola, he has summarized ten traps that companies and individuals are most likely to fall into.
Coincidentally, Donald Keogh is also from Omaha, a fellow with Buffett, and once was a neighbor. There are so many celebrities in Omaha. Munger was also born in Omaha and grew up in Omaha, and he actually did odd jobs in Grandpa Buffett’s grocery store, although they didn't know him at the time.
Buffett said, "Donald Keogh’s strongest ability lies in being able to quickly see through the essence of things, being able to speak and do things directly to the subject, and making complex issues simple is his principle of handling."
Although this book has only more than 100 pages, it’s still a good idea The aftertaste is endless and the teeth leave a fragrance.
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About Muhiuddin Alam
Muhiuddin Alam is the Founder and Editor-in-Chief of ReadingAndThinking.com. He serves as a consistent contributor to various websites and publications, including Medium, Quora, Reddit, Linkedin, Substack, Vocal, Flipboard, and Amazon KDP. Alam personally read numerous books and, for the past 10 years, has been providing book recommendations and reviews. Find Me: About Me & Google Knowledge Panel.
