Get familiar with the favourite books of one of the most successful investors, and see the power of something magical that happened to such successful people.
Warren Buffet is an American business tycoon, investor, and philanthropist. He is currently the CEO of Berkshire Hathaway. As he has consistently been ranked as one of the wealthiest people in the world in the previous years, he is considered one of the most successful investors of all time. His net worth passed $96 billion as of 2021.
Warren Buffet has always used to read books, and he claimed multiple times in his interviews that the most influential factor leading his success was the knowledge he earned from hundreds of books he has read.
I think people should start reading an hour or two every day more than they do now, Reading is pretty important in my life because I’m always looking for ideas, he recently said in the Fortune Magazine.
Some people consider that just because he is a wealthy man, all the books he reads are necessarily financial, but Warren Buffet, like some other similar the rich, reads from novels to non-fiction.
He has recommended many of his books as the most impressive ones he’s read. Here we are going to review five of them.
1. Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger
This book is a collection of talks and speeches of Charlie Munger. It was first published in 2005 and released three years later.
Charlie Munger used to be Warren’s partner for over sixty years. He wrote this book in 1993 to indicate warren’s thoughts of investment principles.
Warren once said that “the insights in Poor Charlie’s Almanack are worth a quick read.”
2. The Intelligent Investor
As Warren said, “The Intelligent Investor” has always been his long-term friend and mentor. He declared that this is a book that all investors must read at least once because it teaches the foundation for investing, especially stocks, over time.
This book was first published in 1949, and since then, there have been many updates by now. “I think The Intelligent Investor is the best book on investing ever written, if you’re going to be an intelligent investor -and who does not want that?” Warren Buffet said.
Warren also recommends people to read any available edition today when he was asked in Fortune Magazine which version of the book is better to read. However, he especially mentioned Amazon as a suitable choice to buy anything from.
3. A Few Lessons for Investors and Managers from Warren Buffett
This book provides lessons to managers and investors based on Warren Buffet’s experience. The lessons are separated into three sections: Professionalism in Corporate America, Investment Strategies, Business Practices for Shareholders.
Howard Marks, one of the most excellent money managers globally, has once said in the Forbes Magazine that “Warren Buffett has been one of my heroes since I was old enough to think about such things.”
4. Tap Dancing to Work: Warren Buffett on Practically Everything
Tab Dancing to work includes some short essays written by Warren Buffet, which was published in 1996. Carol J. Loomis then edited this book. He mainly talks about his management philosophy and examples of previous events or plans in these essays.
Besides giving insights into the essential successful business management rules, the book also provides some advice about buying small caps or large caps stocks, what determines valued stocks, and corporate governance to investing strategy.
5. The Snowball: Warren Buffett and the Business of Life
This book recounts the times and life of Warren Buffet. The Snowball is absolutely one of the fascinating financial success stories available now.
Warren Buffet has never written a memoir or something similar, but he has finally given unprecedented access to the writer, Alice Schroeder, to explore him directly and with those closest to his opinion, work, struggle, follies, wisdom, and triumphs.
The result of this book turned out as complete biography and personally revealing of a man who’s known as “The Oracle of Omaha.”