Can You Get Rich By Reading These 10 Books? Possibly.
If you want to be successful, these are the 10 books everyone should read based on Warren Buffett.
When Warren Buffett started his career as an investor, he read almost 600, 750, or 1,000 Pages per day. But alsoHe still spends about 80% of his day reading.
“Look, my job is to collect more and more facts and information, and sometimes see if that leads to action or not.” he once said in an interview.
“We don’t read other people’s opinions.” he says. “We want to get the information we’re thinking about.”
The curated list of 10 books recommended by Warren Buffett
“Security Analysis” by Benjamin Graham and David L. Dodd
He said this book had given him “A roadmap for investments that I’ve been following for 57 years.”
Buffett has stated that Graham was the second greatest influence in his life after just his father.
“Ben was this incredible teacher; I just think he was a natural, ”he said.
“The Intelligent Investor” by Benjamin Graham
“By far one for the best investment book ever written.” Warren Buffett
SUMMARY: The foreword to the fourth edition was written by Warren Buffett. This is a book that Warren Buffett once wrote about: ““Picking up the book was one of the happiest moments in my life.” It’s a classic book about value investing …
“Common Shares and Unusual Profits” by Philip Fisher
Philip Fisher, the specialist in investing in innovative companies, did not shape Buffett like Graham, but he still holds this book.
“I’m an avid reader of everything Phil has to say, so I recommend him to you,” Buffett said.
“Stress test: reflections on financial crises” by Tim Geithner
Buffett says the former finance minister’s book on the financial crisis is a must for any manager.
Many books have been written on how to deal with an organization in difficult times. Almost no first-hand reports about steering a government wing through an economic disaster.
“This was not just a small problem on the edge of the US mortgage market,” said Geithner writes. “I had a bad feeling in my stomach. I knew what financial crises felt like, usually that’s how they felt. ”
“The Essays of Warren Buffett” by Warren Buffett
If you want to know what Buffett thinks, go straight to the Wise.
He keeps them very real in this collection – in his popular-intellectual way.
“What could be more advantageous in an intellectual competition – whether chess, bridge or stock selection – to have as opponents who were taught that thinking is a waste of energy?” he asks.
“Jack: Straight From The Gut” by Jack Welch
in the his 2001 letter to shareholdersBuffett cheerfully recommends “Jack: Straight From The Gut”, a business reminder about long-time GE manager Jack Welch, which Buffett declares to be “smart, energetic, practical”.
When commenting on a book, Bloomberg Businessweek wrote it “What has influenced modern business so that a tour of its personal history gives all managers valuable lessons.”
Buffett’s advice: “Get a copy!”
“The Outsiders” by William Thorndike, Jr.
“An outstanding book about CEOs who excelled in capital allocation.” – Warren Buffett
SUMMARY: Financial Times “Thorndike wants to offer any manager or business owner the audacity to sometimes solve other problems … to benefit from the playing cards, they are treated and their shareholders excited.”
“The Clash of Cultures” by John Bogle
In it, Bogle – founder of the index fund and founder of the Vanguard Group, who now manages $ 2 trillion in assets – argues that long-term investment has been replaced by short-term speculation.
However, the guide is not all argument. It ends with practical tips on how::
1. Think of the reversal to the mean. What is hot today is not sensible to be hot tomorrow. The stock market returns to its original returns in the long term. Don’t follow the herd.
2. Time is your friend and momentum is your enemy. Benefit from compound interest and do not let the market siren sing. This only attracts you to buy after the stocks have risen and to sell after they have fallen.
“Where are the customer yachts?” By Fred Schwed
“Schweds is the only financial book among the many I have read that can provoke, teach, and divide you all at once. – Jason Zweig, Money Magazine.
SUMMARY: This book offers amusing observations on Wall Street along with stories about their financial players and the customers who do business with them.
“Business Adventures: Twelve Classic Stories from the World of Wall Street” by John Brooks
“Business adventure remains one of the best business books I’ve ever read. “- Bill Gates, The Wall Street Journal
SUMMARY: Stories about Wall Street are presented with drama and adventure, revealing the machinations and precarious nature of the financial world. The Edsel, Xerox growth and corporate scandals fill this book.