16 Books that Billionaire Warren Buffet Loves to Read
Billionaire Warren Buffett is the CEO and chairman of Berkshire Hathaway, a multinational conglomerate holding company. Berkshire Hathaway owns household name companies like GEICO, Duracell, and Dairy Queen. Buffett got his start early at the age of nineteen when he started to read business and books on invesyment. Clearly, they helped him get to where he is today.
Ask the third wealthiest person in the world for book recommendations, and these are the ones he’ll pass along.
If you’re a manager, then the Stress Test is a must-read. The former secretary of the Treasury, Timothy F. Geithner helped the United States during the worst financial crisis since the Great Depression. The way he helped handle it will help any company experiencing financial issues.
Buffett endorses the autobiography by General Electric executive Jack Welch. Welch worked at GE for twenty years, and in his time there he led the corporation to success. If you are someone who requires the best from your employees or fellow coworkers, you’ll want to pick up a copy of Jack: Straight from the Gut.
In his 2012 shareholder letter, Buffett recommends The Clash of the Cultures. Bogle presents good arguments about long-term versus short-term investing. Probably the most important tips Bogle gives is to not follow the crowd when it comes to investing. He also advocates to not act on impulse buying a stock that could plummet soon after you do.
Published in 1940, Where are the Customers’ Yachts is filled with wisdom and anecdotes that are still relevant in today’s market. In his 2006 shareholder letter, Buffet claimed, “The funniest book ever written about investing… it lightly delivers many truly important messages on the subject.” Be sure to pick this book up for some good financial advice.
Essays in Persuasion is a collection of articles and essays by Keynes that he wrote between 1919 and 1931. Buffett says that it is required reading and will make you more educated about the market. In his most famous essay, “Economic Possibilities for Our Grandchildren,” Keynes writes how today’s generation would only work a 15-hour week. You’ll have to read it to find out why.
A fun and humorous read about business, Buffett and Kaufman worked together to compile information that will help you to make better investment decisions. Inside Poor Charlie’s Almanack, you’ll find a ‘multidisciplinary’ approach for clear and simple thinking. Great advice for both business and everyday life.
Read for yourself the celebrated client memos from Howard Marks, the chairman and co-founder of Oaktree Capital Management. Marks shares some of the mistakes he made and what he learned from them. It’s a useful book for any investor.
Buffet wrote both the preface and index of the fourth edition to The Intelligent Investor. In the preface, he writes, “I read the first edition of this book early in 1950, when I was nineteen. I thought then that it was by far the best book about investing ever written. I still think it is.” Like Buffett, many successful investors claim that this is the most important book to read to meet your financial goals.
Another Buffett approved book is Dream Big by Cristiane Correa. Correa takes you through the events that allowed Jorge Paulo Lemann, Marcel Telles, and Beto Sicupira to build the biggest empire in Brazilian capitalism. In a short period of time, the three acquired Budweiser, Burger King, and Heinz. Find out how they did it!
Your classic rags to riches story about a young boy who discovers that hard work is the way to achieve your goals. Full of valuable business lessons and inspiring stories, it is an excellent book for any organization to read collectively.
The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success by William N. Thorndike
Forbes magazine and Buffet both agree that The Outsiders is one of the most important business books in America. Inside, you’ll find out what makes a successful CEO. Learn to become a success in business by learning from their traits and methods that have led them to achieve their goals.
The national bestseller, The Making of the President, takes you through the 1960 presidential election of John F. Kennedy. White details the election process and campaign Kennedy ran, which ultimately got him elected. If you want to know what true leadership and strategy is, you’ll want to have a copy of this book in your office.
Buffett recommended Business Adventures to Bill Gates in 1991 and Gates says it was one of the best recommendations he could have ever gotten. Brooks does a fantastic job weaving accounts of total business disasters that reveal the nature of finance. You’ll want to learn what it was that got these companies in deep trouble to prevent history from repeating itself.
Knight’s memoir is not only recommended by Buffett, but by many other CEOs including Bill Gates, Doug McMillon, and Amanda Bradford. Knight tells his messy story about how he came to be the CEO of a major company.
In an Uncertain World: Tough Choices from Wall Street to Washington by Robert E. Rubin, Jacob Weisberg
Curious what happens when politics and economics intersect? Turn to Robert E. Rubin and Jacob Weisberg’s book, In an Uncertain World. As former U.S. Secretary of the Treasury, Rubin shares his philosophies about his business and governmental career. His clear thinking about the world market is something everyone should read.
The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron by Bethany McLean, Peter Elkind
The Smartest Guys in the Room is a well-reported and well-written book about the Enron scandal in 2001. Authors Bethany McLean and Peter Elkind investigate the fall of the American energy-based corporation. If you’re not familiar with the crime that bankrupted the company, Enron founder Kenneth Lay and former CEO Jeffrey Skilling were found guilty of wire fraud and are now serving time in prison. A gentle reminder of how to run an ethical business.
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