Table of Contents
Are you able to get rich if you read these 10 books? Possibly.
If you wish to be successful, these are the 10 books everyone should read based on Warren Buffett.
When Warren Buffett began his investing career, he would read almost 600, 750, or 1,000 pages a day. Yet also, he still spends about 80% of his day reading.
“Look, my job is just corralling more and more and more facts and information, and sometimes seeing whether or not that leads to some action,” he once said in an interview.
“We don’t read other people’s opinions,” he says. “We wish to get the info after which think.”
The Curated List of 10 Books Recommended by Warren Buffett
‘Security Analysis’ by Benjamin Graham and David L. Dodd
He said that this book had given him “a roadmap for investing that I have now been following for 57 years.”
Buffett has stated that Graham was the second most influential determine in his life, after solely his father.
“Ben was this incredible teacher; I only mean he was a natural,” he stated.
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‘The Intelligent Investor’ by Benjamin Graham
“By far one for the Best book on investing ever written.” Warren Buffett
SUMMARY: The Preface to the Fourth Edition is by Warren Buffett. That is a book of which Warren Buffett once wrote, ““Picking up that book was one of many luckiest moments in my life.” It’s a classic book on value investing…
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‘Common Stocks and Uncommon Profits’ by Philip Fisher
Philip Fisher, the specialist in investing in innovative the companies, didn’t shape Buffett-like Graham did, however, he still holds that book.
“I am an enthusiastic reader of whatever Phil has to say, and so I recommend him to you,” Buffett said.
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‘Stress Test: Reflections on Financial Crises’ by Tim Geithner
Plenty of books has been written about how to handle an organization by way of tough times. Nearly none are firsthand accounts of steering a wing of government by economic catastrophe.
“This wasn’t simply a little difficulty on the fringes of the U.S. mortgage market,” Geithner writes. “I had some sick feeling in my stomach. I knew what financial crises felt like, they usually felt like this.”
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‘The Essays of Warren Buffett’ by Warren Buffett
If you wish to get to know the way Buffett thinks, go straight to the Sage himself.
On this collection, he keeps it very real — in his signature folksy-intellectual fashion.
“What could be more advantageous in an intellectual contest — whether or not it’s chess, bridge, or stock selection —than to have opponents who’ve been taught that thinking is a waste of energy?” he asks.
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‘Jack: Straight From The Gut’ by Jack Welch
In his 2001 shareholder letter, Buffett gleefully recommends “Jack: Straight From The Gut,” a business memoir about longtime GE exec Jack Welch, whom Buffett explains as “smart, energetic, hands-on.”
In commenting on a book, Bloomberg Businessweek wrote that “Welch has had such an influence on modern business that is a tour of his personal history allows all managers valuable lessons.”
Buffett’s advice: “Get a copy!”
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‘The Outsiders’ by William Thorndike, Jr.
“An outstanding book concerning CEOs who excelled at capital allocation.” – Warren Buffett
SUMMARY: Financial Times “Thorndike wants to offer any supervisor or enterprise proprietor the boldness to sometimes do issues otherwise… to profit from the playing cards, they’re dealt and to thrill their shareholders.”
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‘The Clash of the Cultures’ by John Bogle
Bogle’s “The Clash of the Cultures” is another recommendation from the 2012 shareholder letter.
In it, Bogle — creator of the index fund and founder of the Vanguard Group, now managing $2 trillion in assets — argues that long-term investing has been crowded out by short-term speculation.
However, the guide isn’t all argument. It finishes with practical tips, like:
1. Remember reversion to the mean. What’s hot today isn’t reasonable to be hot tomorrow. The stock market reverts to original returns over the long term. Don’t follow the herd.
2. Time is your friend, and impulse is your enemy. Benefit from compound interest and don’t be delighted by the siren song of the market. That only attracts you into buying after stocks have soared and selling after they plunge.
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‘Where are the Customers’ Yachts?’ by Fred Schwed
“Schwed’s is the only financial book, out of the lots of I’ve read, that may provoke you, teach you, and split you up all at once. “ – Jason Zweig, Money Magazine.
SUMMARY: This book offers amusing observations about Wall Street together with stories about its financial players and the clients who bring them business.
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‘Business Adventures: Twelve Classic Tales from the World of Wall Street’ by John Brooks
“Business Adventures remains one for the Best business books I’ve ever read.” – Bill Gates, The Wall Street Journal
SUMMARY: Stories about Wall Street are introduced with drama and adventure and reveal the machinations and precarious nature of the world of finance. The Edsel, the growth of Xerox and corporate scandals fill this book.
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