When Buffett was 19, he bought up a copy of legendary Wall Streeter Benjamin Graham’s “The Intelligent Investor.”
“To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information, What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. This book precisely and clearly prescribes the proper framework. You must provide the emotional discipline.”
– Warren Buffet
‘Security Analysis’ by Benjamin Graham and David L. Dodd
Warren Buffett said that “Security Analysis,” another groundbreaking work of Graham’s, had given him “a roadmap for investing that I have now been following for 57 years. Ben was this incredible teacher; I mean he was a natural.”
‘Common Stocks and Uncommon Profits’ by Philip Fisher
Investor Philip Fisher is specialized in investing in innovative companies and thats why Buffett holds Philip Fisher in the highest regard.
“I am an eager reader of whatever Phil has to say, and I recommend him to you,” Buffett said.In “Common Stocks and Uncommon Profits,” Fisher emphasizes that fixating on financial statements isn’t enough — you also need to evaluate a company’s management.
Stress Test: Reflections on Financial Crises by Tim Geithner
‘The Essays of Warren Buffett’ by Warren Buffett
“What could be more advantageous in an intellectual contest, whether it be chess, bridge, or stock selection than to have opponents who have been taught that thinking is a waste of energy?” Buffet asks.
‘Jack: Straight from the Gut’ by Jack Welch
In his letter, Buffett endorses “Jack: Straight from the Gut,” a business memoir of longtime GE executive Jack Welch, whom Buffett describes as “smart, energetic, hands-on.”Buffett’s advice: “Get a copy!”
‘The Outsiders’ by William Thorndike Jr.
‘The Clash of the Cultures’ by John Bogle
‘Business Adventures: Twelve Classic Tales from the World of Wall Street’ by John Brooks
When Bill Gates asked Buffett for his favorite book.In reply, Buffett did send Bill his own copy of “Business Adventures,” a collection of New Yorker stories by John Brooks.Gates says that the book serves as a reminder that the principles of building a winning business stay constant.
He wrote: For one thing, there’s an essential human factor in every business endeavor. It doesn’t matter if you have a perfect product, production plan, and marketing pitch; you’ll still need the right people to lead and implement those plans.
‘Where Are the Customers’ Yachts?’ by Fred Schwed
‘Essays in Persuasion’ by John Maynard Keynes
‘The Most Important Thing Illuminated’ by Howard Marks
‘Dream Big’ by Cristiane Correa
‘Take on the Street’ by Arthur Levitt
‘Nuclear Terrorism’ by Graham Allison
‘Limping on Water’ by Phil Beuth and K.C. Schulberg
‘Warren Buffett’s Ground Rules’ by Jeremy C. Miller