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10 Books Recommended By Warren Buffett

10 Books Recommended By Warren Buffett

Can you get rich if you read these 10 books? Maybe. We offer the list and a plan to read these books in the next 12 months.

Eighty-five-year-old Warren Buffett shows up in the top ten of many lists for wealth and power. His name comes to mind when the phrase “smart investor” enters in conversations around the globe. His January 2016 net worth as of this writing is $60.7 billion.

A voracious reader, Buffett is known for reading 650 to 1000 pages a day during his early investing years. What did he read then or more importantly, what does he advocate reading now? Many lists exist, but we offer here 1) A Curated List, 2) A Reading Plan, and (3) A Pep Talk. We hope all three help you to reach your investing goals.

We used three different lists that covered recent, but slightly different moments in time.

The first four books on our list were common among all three websites, and then we chose the rest from those that appeared on two of the three lists. If you simply want to go out and buy the books, here are the names and authors. If you want to see what you’re buying and read a little about each one, look below for book covers and a short explanation of each one.

The Curated List of 10 Books Recommended by Warren Buffett

Sound Bite Version…

  1. The Intelligent Investor (623 Pages) Benjamin Graham
  2. Business Adventures: Twelve Classic Tales from the World of Wall Street, (459 Pages) John Brooks
  3. The Outsiders, (250 Pages) William Thorndike, Jr.
  4. Common Stocks and Uncommon Profits, (292 Pages) Philip A. Fisher
  5. Where Are the Customers’ Yachts? (170 Pages) Fred Schwed, Jr.
  6. Essays in Persuasion (384 Pages) John Maynard Keynes
  7. Dream Big (264 Pages) Cristiane Correa
  8. Little Book of Common Sense Investing, (216 Pages) Jack Bogle
  9. The Most Important Things Illuminated (180 Pages) Howard Marks
  10. Stress Test: Reflections on Financial Crises (592 Pages) Timothy F. Geithner 

Title, Author, Quote, Number of Pages, Copyright, Year(s), Summary 

1. The Intelligent Investor Benjamin Graham

Intell Investor

    “By far the best book on investing ever written.” Warren Buffett

    623 Pages. Copyright 1973, updated material 2003

    SUMMARY: The preface to the Fourth Edition is by Warren Buffett. This is a book of which Warren Buffett once wrote,“Picking up that book was one of the luckiest moments in my life.” It is a classic book on value investing…

    2. Business Adventures: Twelve Classic Tales from the World of Wall Street, John Brooks

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    Business Adventures

       Business Adventures remains the best business book I’ve ever read.” – Bill Gates, The Wall Street Journal

      459 Pages. Copyright 1953. Updated 1969

      SUMMARY: Stories about Wall Street are infused with drama and adventure and reveal the machinations and volatile nature of the world of finance. The Edsel, the rise of Xerox and corporate scandals fill this book. 

      3. The Outsiders, William Thorndike, Jr.

      The Outsiders

        “An outstanding book about CEOs who excelled at capital allocation.” – Warren Buffett

        250 Pages; Copyright 2012

        SUMMARY: Financial Times “Thorndike wants to give any manager or business owner the confidence to occasionally do things differently… to make the most of the cards they’re dealt and to delight their shareholders.” 

        4. Common Stocks and Uncommon Profits, Philip A. Fisher

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        Common Stocks _Uncommon Profits

          “I am an eager reader of whatever Phil has to say, and I recommend him to you.” – Warren Buffett

          292 Pages, Copyright 1957, 2003

          SUMMARY: Philip Fisher’s investment philosophy, first published almost 60 years ago stands the test of time. With updated material by the author’s son, this book will enable the reader to make intelligent investment commitments.

           5. Where Are the Customers’ Yachts? Fred Schwed, Jr.

          Where Are Custs Yachts

            “Schwed’s is the only financial book, out of the hundreds I’ve read, that will provoke you, teach you, and crack you up all at once. “ – Jason Zweig, Money Magazine.

            170 Pages, Copyright 1940, 1955, 1995, 2006

            SUMMARY: This book offers amusing observations about Wall Street along with stories about its financial players and the clients who bring them business. 

            6. Essays in Persuasion, John Maynard Keynes

            Essays in Persuasion

              “Essays in Persuasion is a remarkably prophetic volume covering a wide range of issues in political economy.”

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              384 Pages, Copyright 1940, 2009

              SUMMARY from back cover: Essays In Persuasion written by legendary author John Maynard Keynes is widely considered to be one of the top 100 greatest books of all time. This great classic will surely attract a whole new generation of readers. 

              7. Dream Big, Cristiane Correa

              Dream Big
                264 Pages, Copyright 2013

                SUMMARY from Amazon: 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.”

                8. Little Book of Common Sense Investing, Jack Bogle

                Little Book of Common Sense Investing

                  “Most investors, both institutional and individual, will find that the best way to own common stocks is to find a fund that charges minimal fees.” – Warren Buffett

                  216 Pages, Copyright 2007

                  SUMMARY from Amazon: Over the course of his long career, Bogle – founder of the Vanguard Group and creator of the world’s first index mutual fund – has relied primarily on index investing to help Vanguard’s clients build substantial wealth. Now, with The Little Book of Common Sense Investing, he wants to help you do the same.” 

                  9. The Most Important Things Illuminated, Howard Marks

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                  The most important things

                    “This is that rarity, a useful book.” – Warren Buffett

                    180 Pages, Copyright 2011

                    SUMMARY by Andy Wallace: “Howard Marks, Chairman of Oaktree Capital Management, writes clearly and persuasively about the importance of risk avoidance when investing in stocks. He emphatically states his belief that risk avoidance by buying at a good value is the key to success. He then spends the rest of the book telling the reader the 18 most important things to consider when buying stocks. His discussion of investor psychology is worth the price of the book by itself.”

                    10. Stress Test: Reflections on Financial Crises, Timothy F. Geithner

                    Stress Test

                      “Sharply worded and candid memoir.” – Financial times

                      592 Pages, Copyright 2015

                      SUMMARY from Amazon: As president of the Federal Reserve Bank of New York and then as President Barack Obama’s secretary of the Treasury, Timothy F. Geithner helped the United States navigate the worst financial crisis since the Great Depression, from boom to bust to rescue to recovery. In a candid, riveting, and historically illuminating memoir, he takes readers behind the scenes of the crisis, explaining the hard choices and politically unpalatable decisions he made to repair a broken financial system and prevent the collapse of the Main Street economy.”

                      Reading Plan

                      We’ve included the number of pages here so you can pick which book you’ll read in each of the ten months ahead of you, with two months off. Divide the number of pages by the number of days in the month, and read that many pages every day. You can also listen to books on audible.com. We know some people that “read” a book a month will have an easier time by listening to the book.  You can also go back and read sections you really want to study. But listening is a great way to get through your lists.

                      Pep Talk

                      Keep reading. Read every day for which you’ve set a reading goal. Warren Buffett recommends reading books on investing so you will know what you’re doing. It’s your money, so you should know what your advisers are telling you. You will be a year older whether or not you read these books. Why not read them all? Happy reading (or listening).

                      Featured photo credit: https://www.flickr.com/photos/katerha/ via flickr.com

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                      Kathryn Atkins

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                      Last Updated on October 22, 2019

                      How to Get “I Can’t Do It” Out of Your Vocabulary

                      How to Get “I Can’t Do It” Out of Your Vocabulary

                      When someone says, “I can’t do it” . . . I say to myself, “What do you mean you can’t do it?” Maybe you don’t want to do it, but saying you “can’t” do it is a completely different story.

                      With the right mindset, positive attitude, and a clear vision of what you want to accomplish, the only thing that is holding you back is yourself.

                      Can’t is a terrible word and it has to be taken out of your vocabulary.

                      By saying you can’t do something, you’re already doubting yourself, submitting to defeat, and you’re making that barrier around your life tighter.

                      So today, right now, we are going to remove this word for good.

                      From now on there is nothing we can’t do.

                      “Attitude is Tattoo”

                      Your attitude is everything; it’s your reason, your why and how, your facial expression, emotions, body language, and potentially the end result. How you approach an opportunity, and the result of it, is solely based on you — not your boss or your co-worker or friend.

                      If you enter a business meeting with a sour attitude, that negative energy can spread like wildfire. People can also feel it — maybe even taste it. This is not an impression you want to leave.

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                      Now imagine you enter a business meeting with a positive attitude, that whatever happens in here is going to be your result, in your control, not someone else’s. Of course, we can’t always win, but even if the outcome is negative, your attitude and perception can turn it into a positive. The question is: can you do it?

                      Of course you can, because there is nothing in this world you can’t do.

                      It’s much better to be known for your positive attitude — your poise, your energy, the reason why things go so well because you are able to maintain such character. A negative attitude is easy. It’s easy to complain, it’s easy to be mad, and it’s even easier to do nothing to change it.

                      When I say your “attitude is tattoo”, it sounds permanent. Tattoos can be removed, but that’s not the point. Your attitude is like a tattoo because you wear it. People can see it and sometimes, they will judge you on it. If you maintain a negative attitude, then it is permanent until you change it.

                      Change your attitude and I guarantee the results change as well.

                      Believe You Can Do It

                      Do you know why most people say “can’t” and doubt themselves before trying anything?

                      It’s our lack of self-confidence and fear on many different levels. The one thing we have to purge from ourselves is fear — fear of bad results, fear of change, fear of denial, fear of loss, the fear that makes us worry and lose sleep. Worrying is the same as going outside with an umbrella, waiting for rain to hit it. Stop worrying and move on.

                      Confidence is fragile: It builds up slowly, but can shatter like glass. Project your confidence and energy into believing in yourself. This is a very important and groundbreaking step — one that is usually the hardest to take. Start telling yourself you can do something, anything, and you will do it the best to your ability. Remove doubt, remove fear, and stick with positive energy.

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                      Embrace Failure

                      Do not fear failure. Do not run away from it. Face it, learn from it, grow, and take action. Just remember: You will never know success if you have never failed.

                      Your confidence will bolster after embracing these facts. You will be immune to demoralizing results, and instead you will find ways to fix it, improve upon it, and make it better than before. You will learn to never say “can’t,” and will realize how many more opportunities you can create by removing that one word.

                      Don’t let one simple and ugly word plague your confidence. You’re better and stronger than that.

                      Start Making the Change

                      But to actually start the process of change is very challenging.

                      Why is that?

                      Fear? Time? Don’t know how — or where — to start?

                      It’s hard because what we’re doing is unlearning what we know. We are used to doing things a certain way, and chances are we’ve been doing them for years.

                      So here are some ways that I avoid using the word “can’t”, and actually take the steps to put forth the change that I wish to see. I hope you can incorporate these methods into your life.

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                      Write down What You Want to Change

                      Write it on post-its, notecards, whatever makes you comfortable — something you will always see. I usually write mine on post-its and put them all over the wall behind my monitor so I always see them.

                      Tell a Friend and Talk About It

                      Discussing your goals, what you want to change, is very effective when you say it out loud and tell another person other than yourself. It’s almost like saying, hey, I bet I can do it — watch me.

                      When you fulfill that goal and tell your friend, it feels rewarding and will motivate you to do it again in a different aspect. Who knows? Maybe your friend adopts the same mindset as you.

                      Stop Yourself from Saying the Forbidden Word

                      Sometimes,I can’t control myself in public when I’m with friends, so I have to be careful with the words I use so I don’t embarrass or insult anyone.

                      Treat the word “can’t” as the worst word you can possibly use. Stop yourself from saying it, mid-sentence if you must, and turn your whole perspective around — you can do it, you will do it, and nothing is impossible!

                      Repetition, Repetition, Repetition

                      You think this change will be overnight? No way. This is a practice. Something you’re going to be doing for the rest of your life from now until forever.

                      As I said earlier, you are unlearning what you know. You know how easy it is to say you can’t do something, so by unlearning this easy practice, you’re self-disciplining yourself to live without boundaries.

                      Practice this everyday, a little at a time, and before you know it, the word can’t will not be part of your language.

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                      Do Anything That Can Relieve Your Uncertainty

                      When I catch myself saying I can’t do something or I don’t know something, looking up information on that action or subject, doing research, educating yourself, relieves that uncertainty.

                      Sometimes, we think we can’t do something because the whole idea of it seems too large. We skip the small steps in our head and only focus on the end.

                      Before you say you can’t do something, rewind and slow down a little bit. Focus on what the first step is, then the next. Take it a step at a time, and before you know it you will have done something you previously thought you couldn’t do.

                      Final Thoughts

                      You know what you must do. The first step is right now. Once you begin this habit, and really start noticing some change, you’ll realize the door to opportunity is everywhere.

                      The funny thing is: Those doors have always been there. The evil word that we no longer use put a veil over our eyes because that’s how powerful that word is.

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                      Featured photo credit: Cata via unsplash.com

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