Warren Buffett’s Books recomendation -You must read them in 2019

Posted in Bestseller

7 books the Oracle of Omaha has recommended to investors.

If you want to understand Warren Buffett’s approach to investing, here are 7 books that can help you do that.

When Warren Buffett started his investing career, he would read 600, 750, or 1,000 pages a day.Even now, he still spends about 80 percent of his day reading.
“Look, my job is essentially just corralling more and more and more facts and information, and occasionally seeing whether that leads to some action,” he once said in an interview.
“We don’t read other people’s opinions,” he said. “We want to get the facts, and then think.”
These recommendations, most of which have come from his famous letters to Berkshire Hathaway shareholders, can help you understand how Buffett’s investing philosophy was shaped and give you valuable tools to apply to your own portfolio.

                                                                                        CNBC Image

 

1. The Intelligent Investor, by Benjamin Graham

Amazon

 

When Buffett was 19, he picked up a copy of legendary Wall Streeter Benjamin Graham’s “The Intelligent Investor.”

It was one of the luckiest moments of his life, he said, because it gave him the intellectual framework for investing.

“To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information,” Buffett said.“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.”

Book’s Description :

The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham’s philosophy of “value investing” — which shields investors from substantial error and teaches them to develop long-term strategies — has made The Intelligent Investor the stock market bible ever since its original publication in 1949.

Over the years, market developments have proven the wisdom of Graham’s strategies. While preserving the integrity of Graham’s original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today’s market, draws parallels between Graham’s examples and today’s financial headlines, and gives readers a more thorough understanding of how to apply Graham’s principles.

Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.

Buy It Here

2.‘Security Analysis’ by Benjamin Graham and David L. Dodd

Amazon

 

Buffett said that “Security Analysis,” another groundbreaking work of Graham’s, had given him “a road map for investing that I have now been following for 57 years.”

Book’s Description :

First published in 1934, Security Analysis is one of the most influential financial books ever written. Selling more than one million copies through five editions, it has provided generations of investors with the timeless value investing philosophy and techniques of Benjamin Graham and David L. Dodd.

As relevant today as when they first appeared nearly 75 years ago, the teachings of Benjamin Graham, “the father of value investing,” have withstood the test of time across a wide diversity of market conditions, countries, and asset classes.

This new sixth edition, based on the classic 1940 version, is enhanced with 200 additional pages of commentary from some of today’s leading Wall Street money managers. These masters of value investing explain why the principles and techniques of Graham and Dodd are still highly relevant even in today’s vastly different markets.

Buy It Here

3. Business Adventures: Twelve Classic Tales From the World of Wall Street, by John Brooks

Amazon

In 1991, Bill Gates asked Warren Buffett for a book recommendation, and this was it. Gates loved the book.Bill Gates also mentioned  “Business Adventures remains the best business book I’ve ever read.”

Gates says that the book serves as a reminder that the principles for building a winning business stay constant. 

Book’s Description :

What do the $350 million Ford Motor Company disaster known as the Edsel, the fast and incredible rise of Xerox, and the unbelievable scandals at General Electric and Texas Gulf Sulphur have in common? Each is an example of how an iconic company was defined by a particular moment of fame or notoriety; these notable and fascinating accounts are as relevant today to understanding the intricacies of corporate life as they were when the events happened.

Stories about Wall Street are infused with drama and adventure and reveal the machinations and volatile nature of the world of finance. Longtime New Yorker contributor John Brooks’s insightful reportage is so full of personality and critical detail that whether he is looking at the astounding market crash of 1962, the collapse of a well-known brokerage firm, or the bold attempt by American bankers to save the British pound, one gets the sense that history repeats itself.

Five additional stories on equally fascinating subjects round out this wonderful collection that will both entertain and inform readers . . . Business Adventures is truly financial journalism at its liveliest and best.

Buy It Here

4. Common Stocks and Uncommon Profits, by Philip Fisher

Amazon

Aside from Benjamin Graham, Philip Fisher is perhaps Warren Buffett’s most favourist financial author.

He said “I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits…A thorough understanding of the business, obtained by using Phil’s techniques…enables one to make intelligent investment commitments.”

Book’s Description :

Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced almost forty years ago, are not only studied and applied by today’s financiers and investors, but are also regarded by many as gospel. This book is invaluable reading and has been since it was first published in 1958. The updated paperback retains the investment wisdom of the original edition and includes the perspectives of the author’s son Ken Fisher, an investment guru in his own right in an expanded preface and introduction

Buy It Here

 

5.Dream Big’ by Cristiane Correa

Amazon

 

Buffett recommended the book at the 2014 Berkshire Hathaway shareholder meeting.

Book’s Description :

My friend – and now partner – Jorge Paulo and his team are among the best businessmen in the world. He is a fantastic person and his story should be an inspiration to everybody, as it is for me.” – Warren Buffett 

In just over forty years, Jorge Paulo Lemann, Marcel Telles and Beto Sicupira built the biggest empire in the history of Brazilian capitalism and launched themselves onto the world stage in an unprecedented way. Over the past five years, they have acquired no fewer than three globally-recognized American brands: Budweiser, Burger King and Heinz. This has been achieved as discreetly as possible and they have shunned any personal publicity. 
The management method they developed, which has been zealously followed by their employees, is based on meritocracy, simplicity and constant cost cutting. 
Their culture is as efficient as it is merciless and leaves no room for mediocre performances. On the other hand, those who bring in exceptional results have the chance to become company partners and make a fortune. 

Dream Big presents a detailed behind-the-scenes portrait of the meteoric rise of these three businessmen, from the founding of Banco Garantia in the 1970s to the present day. 
In 1971, when the Brazilian stock market was going through an euphoria, Harvard graduate, tennis champion and underwater fishing enthusiast from Rio de Janeiro Jorge Paulo Lemann decided to start a new business. He assembled some partners and put out a newspaper ad: “Brokerage wanted.” Days later, Lemann began running what would become the cornerstone of his fortune and those of over 200 other people. Its name was Garantia. 
The “Garantia model” was based on businesses that impressed Lemann, such as Goldman Sachs in finance and Walmart in retail. Its philosophy gave the best workers the opportunity to become shareholders.

 

In Buffett’s 2002 shareholder letter, he explains “how accounting standards and audit quality have eroded in recent years.” Specifically, he cites the downfall of Arthur Andersen accounting.

Book’s Description :

In Take on the Street, Arthur Levitt–Chairman of the Securities and Exchange Commission for eight years under President Clinton–provides the best kind of insider information: the kind that can help honest, small investors protect themselves from the deliberately confusing ways of Wall Street.

At a time when investor confidence in Wall Street and corporate America is at an historic low, when many are seriously questioning whether or not they should continue to invest, Levitt offers the benefits of his own experience, both on Wall Street and as its chief regulator. His straight talk about the ways of stockbrokers (they are salesmen, plain and simple), corporate financial statements (the truth is often hidden), mutual fund managers (remember who they really work for), and other aspects of the business will help to arm everyone with the tools they need to protect—and enhance—their financial future.

Buy It Here

7.The Outsiders, by William Thorndike Jr

Amazon

In his 2012 letter to Berkshire’s shareholders, Buffett called The Outsiders an “outstanding book about CEOs who excelled at capital allocation.” The story of eight business leaders’ recipes for success, the book features a section about Berkshire director Tom Murphy.

Book’s Description :

“It is impossible to produce superior performance unless you do something different.” —John Templeton.
What makes a successful CEO? Most people call to mind a familiar definition: a seasoned manager with deep industry expertise. Others might point to the qualities of today’s so-called celebrity CEOs charisma, virtuoso communication skills, and a confident management style. But what really matters when you run an organization? What is the hallmark of exceptional CEO performance? Quite simply, it is the returns for the shareholders of that company over the long term.
In this refreshing, counterintuitive audiobook, author Will Thorndike brings to bear the analytical wisdom of a successful career in investing, closely evaluating the performance of companies and their leaders. You will meet eight individualistic CEOs whose firms’ average returns outperformed the S&P 500 by a factor of twenty—in other words, an investment of $10,000—with each of these CEOs, on average, would have been worth over $1.5 million twenty-five years later. You may not know all their names, but you will recognize their companies: General Cinema, Ralston Purina, The Washington Post Company, Berkshire Hathaway, General Dynamics, Capital Cities Broadcasting, TCI, and Teledyne.
In The Outsiders, you’ll learn the traits and methods striking for their consistency and relentless rationality that helped these unique leaders achieve such exceptional performance. Humble, unassuming, and often frugal, these “outsiders” shunned Wall Street and the press, and shied away from the hottest new management trends. Instead, they shared specific traits that put them and the companies they led on winning trajectories: a laser-sharp focus on per share value as opposed to earnings or sales growth; an exceptional talent for allocating capital and human resources; and the belief that cash flow, not reported earnings, determines a company’s long-term value.
Drawing on years of research and experience, Thorndike tells eye-opening stories, extracting lessons and revealing a compelling alternative model for anyone interested in leading a company or investing in one and reaping extraordinary returns.

Leave a Reply

Your email address will not be published. Required fields are marked *

13 − 1 =

Start typing and press Enter to search

Shopping Cart