Reading is essential to investors. Over the years, Warren Buffett has recommended many good books on various subjects. Here are some of the books recommended by Buffett.
Securities Analysis by Benjamin Graham. A Graham's classics, a must-read book by professional investors. Warren Buffett believes that every investor should read the book 10 times or more.
The Intelligent Investor: A Book of Practical Counsel. Another great book written by Benjamin Graham specifically for amateur investors. Warren Buffett claims it as “the greatest investment book ever”.
Common Stocks and Uncommon Profits by Philip A. Fisher. Warren Buffett said that his investment strategy is "85% Graham and 15% Fisher. He said: "by reading Fisher's book, you can understand investment better and make smart decisions in investment."
The Essays of Warren Buffett: Lessons for Corporate America by Lawrence A. Cunningham. This book has collected key points from letters written by Warren Buffett to shareholders for more than 20 years. Warren Buffett believes this is an excellent work that summarizes the philosophy of his investment.
Jack: Straight from the Gut by Jack Welch, John A. Byrne. This is the autobiography of one of the world's greatest CEO - Jack Welch. Regarded as the “Bible for CEO”, this book reveals the secrets of management: General Electric, under the leadership of Jack Welch, grew from the 10th to the 2nd largest company in the world in of 20 years time. During the same period, the market capitalization of GE increased by 30 times, up to $450 billion. Jack Welch also discusses his growing years, success stories and business philosophy in this book. Warren Buffett highly recommended this book by saying: "Jack is the Tiger Woods in the business management world. All of the CEOs should learn from him."
Winning by Jack Welch. Warren Buffet claims that by having this book, you don't need any other management book. Though this sounds exaggerated, it does shows the quality and importance of this book.
Winning is written in a narrative style and supported by lots of practical examples. If you want to master the skills in a short period of time, you just need to transcribe and titles and subtitles in the book, as those are of key points and messages that the author tries to convey to readers. However, the main selling points of the book are the author’s real life experiences. You will learn a lot more if you spend time reading all of the practical examples in the book
In a nutshell, reading is a must for everyone. Warren Buffett once said: “Reading is my work”. Without a doubt, his success in investment is partly contributed by his passion to read.