In this article, we will share Warren Buffett Books For Beginners in 2021: From Beginner to Pro. In this article, we'll try to answer the following questions: Which 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 10 books influenced Warren Buffett the most? Best Warren Buffett Books?, What does Warren Buffett read?, Which books inspire Warren Buffett? Books Warren Buffett thinks everyone should read, Warren Buffett book recommendations 2021.
Today, we’ll be diving into Warren Buffett Books For Beginners in 2021. Because a few fresh perspectives and fresh strategies may be all you need to expand your reading list. For someone who is 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.
In 2007. Berkshire shareholders meeting, a young man from San Francisco to ask Buffett, in order to become a good investor, what the best way is? Buffett’s answer is to read. 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. Come into your own mind and over time, tell what is reasonable. Once you do this, it’s time to get into the water (try it).”
Buffett went on to say: “I read a book when I was 19 years old. Formed a basic way of thinking about investing. I am now 76 years old, and the way of thinking about investing is based on what I got from that book when I was 19 years old."
Where did Buffett read when he was 19 years old What about a book? This book gave him such an important influence. In "What Warren Buffett Says" edited by Janet Lowe, there is a passage: "I am involved in everything. I collect charts and read various technical knowledge books. I listen to all kinds of internal news. . Later I read Graham's "Smart Investor", which is like seeing the light." Buffett also said: "I read this book as early as 1950 when I was just 19 years old. At that time I thought this was the greatest investment book ever. I still think so.”
Buffett admired Graham extremely, calling him the greatest teacher in financial history, and determined to invest what he learned from him. Philosophy moves forward. Buffett said that even if doing so, it will create a strong competitor for Berkshire, but it is also worth doing. Another classic book by Graham, "Securities Analysis," has been hailed as the investor's bible. Buffett believes that every investor should read this book more than ten times.
Another important influence on Buffett’s investment concept is Phil Fisher. Fisher’s most classic book is "Ordinary Stocks, Extraordinary Profits." Buffett praised the book. Stocks, Extraordinary Profits", I found Phil Fisher. When I met him, he impressed me as much as his thoughts. He used Fischer’s skills to thoroughly understand the company. Understanding can enable one to make smart investments."
In the investment world, in addition to Buffett, Peter Lynch is familiar to people. The two of them are sympathetic. In Lynch's works, I often read a few words about Buffett. Buffett also appreciates Lynch’s talents. For Lynch’s "Learning to Get Rich", Buffett recommends this: "If you want to give your grandson a birthday gift, "Learning to Get Rich" is the best. "Peter Lynch has also written several other books, such as "Beat Wall Street" and "Peter Lynch's Successful Investment", which are all influential classics in the investment world.
As a value investor, analyzing the company and analyzing the company's management is a must-have homework. For managers, Buffett admired Ke Welch’s work most. Buffett recommended Jack Welch’s Autobiography: “Jack is the Tiger Woods of management, and all CEOs want to emulate him. Although they can’t keep up with him, If you listen carefully to what he says, you can get closer to him." For "Win", Buffett said: "With "Win," there is no need for other management books." Jack Welch's book really has Such a big charm? I just saw it.
Buffett once said that his job is to read. In order 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 bazaar. In fact, some good works were recommended. For example, at the 2007 annual shareholder meeting, Buffett first recommended Franklin's famous book "The Poor Charlie's Yearbook." There are also "Finding Wisdom-From Darwin to Munger" by Peter Bevelin and "Where is the client's yacht" by Fred Schwab. Regarding "Where is the Client's Yacht",
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. "
Buffett himself has not written any books specifically, but he writes a letter to shareholders every year, summarizing the successes and failures of the past year. Lawrence A. Cunningham, an American law professor, was commissioned by him to compile these letters into a book by subject, called "Buffett's Letter to Shareholders
Here are 15 books recommended by Buffett for beginners 2021. If we are not destined to be richer than Buffett, we can at least be more diligent than him.
Here’s a full list of every book Warren Buffett has recommended this decade—in his annual letters
Warren Buffett Books For Beginners in 2021
1. The Intelligent Investor
by Benjamin Graham
Graham wrote specifically for amateur investors, and Buffett called it "the greatest investment book ever"; "Securities Analysis" (Graham Dodd). Graham's classic, a must-read book for professional investors, Buffett believes that every investor should read this book more than ten times.
First clarified the difference between "investment" and "speculation" and pointed out how smart investors should determine the expected return. This book focuses on the investment portfolio strategies of defensive investors and active investors and discusses how investors respond to market fluctuations.
The book also elaborates on issues such as fund investment, the relationship between investors and investment advisers, the general method of securities analysis for ordinary investors, the securities selection of defensive investors and active investors, convertible securities and warrants, etc.
2. Poor Charlie's Almanack
by Peter D. Kaufman
"The Poor Charlie" contains the main public speeches of Charlie in the past 20 years. The eleven speeches in "The Poor Charlie" fully demonstrate the ingenuity of this legend. In addition, the chapter "Mungerism: Charlie's Impromptu Talk" includes his sharp — and humorous — comments at the annual meetings of Berkshire Hathaway and Sike Financial.
Throughout the book are Munger's intelligence, wit, admirable values , and unfathomable rhetoric talent. He has encyclopedic knowledge, so from ancient eloquence to European writers in the 18th and 19th centuries, to contemporary pop culture icons, he can comprehend the famous sayings of these people, and use these to emphasize lifelong learning and maintaining knowledge.
The benefits of desire. This updated edition contains two new works by Charlie Munger in the past two years, criticizing the shortcomings of the American financial system in a fabled way, which is quite consistent with the current reflection and criticism of capitalism.
3. Berkshire Hathaway Letters to Shareholders
by Warren Buffett—A Tutorial for Joint Stock Companies
This book contains a letter written by investment god Warren Buffett to the shareholders of Berkshire Hathaway. The topics covered include management, investment, and evaluation. The core spirit is written by Graham and Todd. Put forward, the book discusses corporate governance, corporate finance, and investment, common stocks, mergers and acquisitions, accounting and taxation, etc. It is a refined, practical, and educational investment manual.
This book collects and sorts out the essence of Buffett’s letters to shareholders for more than 20 years. Buffett believes that this book is a first-class work in sorting out his investment philosophy.
4. One Up On Wall Street
by Peter Lynch
The author uses simple and vivid language to explain many techniques of stock investment and provides simple and easy-to-learn investment analysis methods to the majority of small and medium investors. These methods are a summary of the author’s years of experience and have strong practicality. It is especially beneficial for amateur investors.
The author first told investors is such an investment rule: Don't believe the advice of investment experts! The author believes that as long as investors do some serious research on stocks, their performance will not be worse than that of experts. The author believes that amateur investors have many inherent advantages. If they make use of these advantages, they will do better than experts in investing.
As an American phrase, one up on means to rely on a certain advantage. It is the edge repeatedly emphasized in the book. At the same time, it shows the writing style of this book, which is easy to understand.
It can be regarded as one on, which means a person on Wall Street, and contains character descriptions.
As the first part of the trilogy, it means that it’s a newcomer. When investors first come to the stock market, they must use what they already know.
The author printed the pictures of the characters on the cover, in the cover of the author's formal dress, his expression was serious and green.
5. Super Trader
by Van Tharp
Readers of this book provide a comprehensive guide for successful investors. The trading system introduced in the book combines investment psychology and trading practice, and its investment strategy can enable investors to create good results in both long and short markets.
This book can guide you:
- quickly master the trading psychology
- learn to make a trading plan
- develop a trading system that suits you
- use fund management strategies to achieve profitability
- reduce the chance of making mistakes through monitoring.
The author has always believed that 100% trading is a psychological factor. So I spent most of the space, talking about the psychological construction of investors, that is, Work on Yourself. It is to know yourself and construct investment psychology. There are also many cartoon illustrations to illustrate mental construction.
6. Security Analysis
by Benjamin Graham
"Securities Analysis" is known as the investor's bible. Since its publication in 1934, it has been selling well for 80 years. The market has repeatedly proved that "Securities Analysis" is a classic work of value investing. The sixth edition of Securities Analysis is an upgraded version of the 1940 edition.
The 1940 version of "Securities Analysis" is the most satisfactory version of the author's Graham and Dodd, and the most beloved version of Warren Buffett. While maintaining the original appearance of the original book, the 6th edition adds a guide for 10 Wall Street financial experts, which not only demonstrates the important position of this book in the eyes of Wall Street investment masters but also adds the breath of the times to this classic work.
7. Common Stocks and Uncommon Profits
by Philip A. Fisher
Buffett praised the book, "After reading "Ordinary Stocks, Extraordinary Profits", I found Phil Fisher. When I saw him, he himself left me like his thoughts. Deep impression. A thorough understanding of the company with Fischer’s skills enables one to make smart investments."
In the book, Fischer emphasizes that keeping a close eye on financial reports is not enough, you also need to evaluate the management of a company. Buffett called himself "an avid reader of Phil, no matter what he wants to say."
Buffett called his investment strategy "85% Graham and 15% Fisher." He said: "Using Fisher's skills, you can understand this industry...helps make a smart investment decision."
8. Where Are the Customers' Yachts?
by Fred Schwed
This is the best book published on the subject of investment. It wisely explains many insights on the subject of investment;
This book mainly talks about the financial industry or the faces of all beings in the financial circle of Wall Street. Through this book, you can understand from bankers to brokers, from traders to salesmen, their role in market transactions, and you can also understand their code of conduct, but it is worth noting that this code of conduct is divided into obvious Both sex and recessive.
by Jack Welch
With "Winning", there is no need for other management books.
In order to share the wisdom of winning, Jack Welch, the management master, summed up his own management experience in "Win", from the overflowing and empty "mission" in the enterprise to the crisis management that every company will face, and then to For many daily issues such as budget management, employee recruitment, job hunting, work-life balance, etc., Welch put forward his own unique solutions one by one and shared his way of thinking like a successful manager with readers to help you more calmly Respond to the challenges of the future.
10. Seeking Wisdom
by Peter Bevelin
Peter Bevelin begins his fascinating book with Confucius' great wisdom: "A man who has committed a mistake and doesn't correct it is committing another mistake." Seeking Wisdom is the result of Bevelin's learning about attaining wisdom. His quest for origin wisdomated partly from making mistakes himself and observing those of others but also from the philosophy of super-investor and Berkshire Hathaway Vice Chairman Charles Munger. A man whose simplicity and clarity of thought were unequal to anything Bevelin had seen.
In addition to naturalist Charles Darwin and Munger, Bevelin cites an encyclopedic range of thinkers: from first-century BCE Roman poet Publius Terentius to Mark Twain—from Albert Einstein to Richard Feynman—from 16th Century French essayist Michel de Montaigne to Berkshire Hathaway Chairman Warren Buffett. In the book, he describes ideas and research findings from many different fields.
This book is for those who love the constant search for knowledge. It is in the spirit of Charles Munger, who says, "All I want to know is where I'm going to die so I'll never go there." There are roads that lead to unhappiness. An understanding of how and why we can "die" should help us avoid them. We can't eliminate mistakes, but we can prevent those that can really hurt us.
Using exemplars of clear thinking and attained wisdom, Bevelin focuses on how our thoughts are influenced, why we make misjudgments, and tools to improve our thinking. Bevelin tackles such eternal questions as Why do we behave like we do? What do we want out of life? What interferes with our goals?
Read and study this wonderful multidisciplinary exploration of wisdom. It may change the way you think and act in business and in life.
11. Learn to Earn
by Peter Lynch
Peter Lynch was born in 1944. At the age of 15, he started small-scale investment to earn tuition. In 1968, he graduated from the Wharton School of the University of Pennsylvania with an MBA degree. In 1969, Lynch joined Fidelity.
"Safe Driving Training Textbook". Peter Lynch uses a way of telling stories from his grandmother to tell you the basic knowledge of investment such as the development of capitalism in the United States, the changes in the stock market, the general situation of investment, and the practice of stock selection. No wonder Warren Buffett wants to say: If he gave his grandson a birthday present, "Learning To Be Rich" would be the best.
12. Jack: Straight from the Gut
by Jack Welch
Welch is the "Tiger Woods" in the management world, and all CEOs want to follow his example. Although they can't keep up with him, if they listen carefully to what he says, they can get closer to him.
In "The Autobiography of Jack Welch", Welch revealed his youth, growth history, management secrets, and how to create a unique management model to help a large and diverse business empire get rid of chronic diseases and become a flexible initiative.
The proactive path. He used his unique Webster’s language to cleverly combine life experience, professional experience, and management experience to create a wise, unique, and thought-provoking management legend.
13. The Wealth of Nations
by Adam Smith
The book summarizes the experience of capitalist development in various countries in the early modern period, critiques and absorbs important economic theories at the time, and makes a systematic description of the movement process of the entire national economy. It is known as the first systematic great economic book'.
After the publication of this book, it caused widespread discussion among the general public, and the impact was not only in the United Kingdom but also in the European continent and the Americas.
14. The Great Crash 1929
by John Kenneth Galbraith
Buffett believes that the best way to learn is to learn from mistakes, especially from the mistakes of others. And the biggest bear market in the U.S. stock market, the 1929 crash, is the best lesson.
Of Galbraith's classic examination of the 1929 financial collapse, the Atlantic Monthly said: "Economic writings are seldom notable for their entertainment value, but this book is. Galbraith's prose has grace and wit, and he distills a good deal of sardonic fun from the whopping errors of the nation's oracles and the wondrous antics of the financial community."
Now, with the stock market riding historic highs, the celebrated economist returns with new insights on the legacy of our past and the consequences of blind optimism and power play within the financial community.
15. Stress Test
by Timothy F. Geithner
The latter part is too long-winded. The first part explains to readers from the perspective of the government why the government has made the decision not to save the Lehman brother. How to decide who to save or not to save? How much funding do I need to allocate? What are the consequences? The 2008 financial crisis was caused by the excessive borrowing of real estate.
The current economic boom has relaxed the policy, demand exceeds supply, debt is higher than assets, and the financial industry binds the chain. Every company should have enough cash reserve to buffer the storm that may occur in the worst period. Bank lending should do enough background credit investigations.
The public should make sure that the risk is bearable (sufficient income to invest). Pay monthly interest), take responsibility for your own words, and don’t publish information that can be devastating without investigating and thinking.
Investment projects must do a good job of risk management, must ensure a stable cash flow and cash volume, use data to speak, "Bill Gates said that after reading this book, at least people know what the managers did during the financial crisis. Very real review and reflection, in the illusion of pig-like teammates and pigs all over. The book is a good book!
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1. Risk comes from not knowing what you are doing.
2. If you don't plan to hold a stock for ten years, don't hold it for ten minutes.
3. The secret of investment is not to evaluate the impact of a certain industry on society or how good its development prospects are, but how strong a company's competitive advantage is. How long can this advantage be maintained, and the long-lasting and profound advantages of products and services can bring good returns to investors.
4. Financial advisors are those who need your money more than you.
5. When those good companies are suddenly caught in a market reversal and unreasonably falling stock prices, this is a great investment opportunity.
6. My favorite holding time is...forever!
7. To invest successfully, you must read hard. Read not only the information of companies that are interested in buying but also the information of other competitors.
8. Money is not a very important thing, at least it cannot buy health and friendship.
9. If you think you can often enter and exit the stock market to get rich, I am not willing to do business with you, but I want to be your stockbroker.
10. In the stock market, the only thing that allows you to be struck out is the constant looting of highs and lows, and the consumption of funds.