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10 Books Recommended By Warren Buffett

10 Books Recommended By Warren Buffett
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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).

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

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                      Last Updated on July 20, 2021

                      How to Overcome the Fear of Public Speaking (A Step-by-Step Guide)

                      How to Overcome the Fear of Public Speaking (A Step-by-Step Guide)
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                      You’re standing behind the curtain, just about to make your way on stage to face the many faces half-shrouded in darkness in front of you. As you move towards the spotlight, your body starts to feel heavier with each step. A familiar thump echoes throughout your body – your heartbeat has gone off the charts.

                      Don’t worry, you’re not the only one with glossophobia(also known as speech anxiety or the fear of speaking to large crowds). Sometimes, the anxiety happens long before you even stand on stage.

                      Your body’s defence mechanism responds by causing a part of your brain to release adrenaline into your blood – the same chemical that gets released as if you were being chased by a lion.

                      Here’s a step-by-step guide to help you overcome your fear of public speaking:

                      1. Prepare yourself mentally and physically

                      According to experts, we’re built to display anxiety and to recognize it in others. If your body and mind are anxious, your audience will notice. Hence, it’s important to prepare yourself before the big show so that you arrive on stage confident, collected and ready.

                      “Your outside world is a reflection of your inside world. What goes on in the inside, shows on the outside.” – Bob Proctor

                      Exercising lightly before a presentation helps get your blood circulating and sends oxygen to the brain. Mental exercises, on the other hand, can help calm the mind and nerves. Here are some useful ways to calm your racing heart when you start to feel the butterflies in your stomach:

                      Warming up

                      If you’re nervous, chances are your body will feel the same way. Your body gets tense, your muscles feel tight or you’re breaking in cold sweat. The audience will notice you are nervous.

                      If you observe that this is exactly what is happening to you minutes before a speech, do a couple of stretches to loosen and relax your body. It’s better to warm up before every speech as it helps to increase the functional potential of the body as a whole. Not only that, it increases muscle efficiency, improves reaction time and your movements.

                      Here are some exercises to loosen up your body before show time:

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                      1. Neck and shoulder rolls – This helps relieve upper body muscle tension and pressure as the rolls focus on rotating the head and shoulders, loosening the muscle. Stress and anxiety can make us rigid within this area which can make you feel agitated, especially when standing.
                      2. Arm stretches – We often use this part of our muscles during a speech or presentation through our hand gestures and movements. Stretching these muscles can reduce arm fatigue, loosen you up and improve your body language range.
                      3. Waist twists – Place your hands on your hips and rotate your waist in a circular motion. This exercise focuses on loosening the abdominal and lower back regions which is essential as it can cause discomfort and pain, further amplifying any anxieties you may experience.

                      Stay hydrated

                      Ever felt parched seconds before speaking? And then coming up on stage sounding raspy and scratchy in front of the audience? This happens because the adrenaline from stage fright causes your mouth to feel dried out.

                      To prevent all that, it’s essential we stay adequately hydrated before a speech. A sip of water will do the trick. However, do drink in moderation so that you won’t need to go to the bathroom constantly.

                      Try to avoid sugary beverages and caffeine, since it’s a diuretic – meaning you’ll feel thirstier. It will also amplify your anxiety which prevents you from speaking smoothly.

                      Meditate

                      Meditation is well-known as a powerful tool to calm the mind. ABC’s Dan Harris, co-anchor of Nightline and Good Morning America weekend and author of the book titled10% Happier , recommends that meditation can help individuals to feel significantly calmer, faster.

                      Meditation is like a workout for your mind. It gives you the strength and focus to filter out the negativity and distractions with words of encouragement, confidence and strength.

                      Mindfulness meditation, in particular, is a popular method to calm yourself before going up on the big stage. The practice involves sitting comfortably, focusing on your breathing and then bringing your mind’s attention to the present without drifting into concerns about the past or future – which likely includes floundering on stage.

                      Here’s a nice example of guided meditation before public speaking:

                      2. Focus on your goal

                      One thing people with a fear of public speaking have in common is focusing too much on themselves and the possibility of failure.

                      Do I look funny? What if I can’t remember what to say? Do I look stupid? Will people listen to me? Does anyone care about what I’m talking about?’

                      Instead of thinking this way, shift your attention to your one true purpose – contributing something of value to your audience.

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                      Decide on the progress you’d like your audience to make after your presentation. Notice their movements and expressions to adapt your speech to ensure that they are having a good time to leave the room as better people.

                      If your own focus isn’t beneficial and what it should be when you’re speaking, then shift it to what does. This is also key to establishing trust during your presentation as the audience can clearly see that you have their interests at heart.[1]

                      3. Convert negativity to positivity

                      There are two sides constantly battling inside of us – one is filled with strength and courage while the other is doubt and insecurities. Which one will you feed?

                      ‘What if I mess up this speech? What if I’m not funny enough? What if I forget what to say?’

                      It’s no wonder why many of us are uncomfortable giving a presentation. All we do is bring ourselves down before we got a chance to prove ourselves. This is also known as a self-fulfilling prophecy – a belief that comes true because we are acting as if it already is. If you think you’re incompetent, then it will eventually become true.

                      Motivational coaches tout that positive mantras and affirmations tend to boost your confidents for the moments that matter most. Say to yourself: “I’ll ace this speech and I can do it!”

                      Take advantage of your adrenaline rush to encourage positive outcome rather than thinking of the negative ‘what ifs’.

                      Here’s a video of Psychologist Kelly McGonigal who encourages her audience to turn stress into something positive as well as provide methods on how to cope with it:

                      4. Understand your content

                      Knowing your content at your fingertips helps reduce your anxiety because there is one less thing to worry about. One way to get there is to practice numerous times before your actual speech.

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                      However, memorizing your script word-for-word is not encouraged. You can end up freezing should you forget something. You’ll also risk sounding unnatural and less approachable.

                      “No amount of reading or memorizing will make you successful in life. It is the understanding and the application of wise thought that counts.” – Bob Proctor

                      Many people unconsciously make the mistake of reading from their slides or memorizing their script word-for-word without understanding their content – a definite way to stress themselves out.

                      Understanding your speech flow and content makes it easier for you to convert ideas and concepts into your own words which you can then clearly explain to others in a conversational manner. Designing your slides to include text prompts is also an easy hack to ensure you get to quickly recall your flow when your mind goes blank.[2]

                      One way to understand is to memorize the over-arching concepts or ideas in your pitch. It helps you speak more naturally and let your personality shine through. It’s almost like taking your audience on a journey with a few key milestones.

                      5. Practice makes perfect

                      Like most people, many of us are not naturally attuned to public speaking. Rarely do individuals walk up to a large audience and present flawlessly without any research and preparation.

                      In fact, some of the top presenters make it look easy during showtime because they have spent countless hours behind-the-scenes in deep practice. Even great speakers like the late John F. Kennedy would spend months preparing his speech beforehand.

                      Public speaking, like any other skill, requires practice – whether it be practicing your speech countless of times in front of a mirror or making notes. As the saying goes, practice makes perfect!

                      6. Be authentic

                      There’s nothing wrong with feeling stressed before going up to speak in front of an audience.

                      Many people fear public speaking because they fear others will judge them for showing their true, vulnerable self. However, vulnerability can sometimes help you come across as more authentic and relatable as a speaker.

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                      Drop the pretence of trying to act or speak like someone else and you’ll find that it’s worth the risk. You become more genuine, flexible and spontaneous, which makes it easier to handle unpredictable situations – whether it’s getting tough questions from the crowd or experiencing an unexpected technical difficulty.

                      To find out your authentic style of speaking is easy. Just pick a topic or issue you are passionate about and discuss this like you normally would with a close family or friend. It is like having a conversation with someone in a personal one-to-one setting. A great way to do this on stage is to select a random audience member(with a hopefully calming face) and speak to a single person at a time during your speech. You’ll find that it’s easier trying to connect to one person at a time than a whole room.

                      With that said, being comfortable enough to be yourself in front of others may take a little time and some experience, depending how comfortable you are with being yourself in front of others. But once you embrace it, stage fright will not be as intimidating as you initially thought.

                      Presenters like Barack Obama are a prime example of a genuine and passionate speaker:

                      7. Post speech evaluation

                      Last but not the least, if you’ve done public speaking and have been scarred from a bad experience, try seeing it as a lesson learned to improve yourself as a speaker.

                      Don’t beat yourself up after a presentation

                      We are the hardest on ourselves and it’s good to be. But when you finish delivering your speech or presentation, give yourself some recognition and a pat on the back.

                      You managed to finish whatever you had to do and did not give up. You did not let your fears and insecurities get to you. Take a little more pride in your work and believe in yourself.

                      Improve your next speech

                      As mentioned before, practice does make perfect. If you want to improve your public speaking skills, try asking someone to film you during a speech or presentation. Afterwards, watch and observe what you can do to improve yourself next time.

                      Here are some questions you can ask yourself after every speech:

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                      • How did I do?
                      • Are there any areas for improvement?
                      • Did I sound or look stressed?
                      • Did I stumble on my words? Why?
                      • Was I saying “um” too often?
                      • How was the flow of the speech?

                      Write everything you observed down and keep practicing and improving. In time, you’ll be able to better manage your fears of public speaking and appear more confident when it counts.

                      If you want even more tips about public speaking or delivering a great presentation, check out these articles too:

                      Reference

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