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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 April 11, 2019

                      How to Improve Communication Skills for Workplace Success

                      How to Improve Communication Skills for Workplace Success

                      Possessing strong communication skills will help you in every phase of your life. This is especially true in the workplace.

                      I have personally worked with several leaders who were masters of communication. A few were wonderful speakers who could tell a great story and get everyone in the room engaged. Those of us in attendance would walk away feeling inspired and eager to help with what came next. Others were very skilled at sharing a clear direction and job expectations.

                      I knew exactly what was expected of me and how to achieve my goals. This was the foundation of an energized and vibrant role I was in. What I have found is strong communication skills are incredibly helpful and sometimes critical in how well we perform at work.

                      Here we will take a look at how to improve communication skills for workplace success.

                      How Communication Skills Help Your Success

                      Strong communication skills pave the way for success in many ways. Let’s look at a few of the big ones.

                      Create a Positive Experience

                      Here are two examples of how well developed communication skills helps create a positive experience:

                      When I first moved to the city I now live in, I began a job search. Prior to my first live interview, I was told an address to go to. Upon arriving at the address provided, I drove around and around attempting to find the location. After 15 minutes of circling and looking for the address, I finally grabbed a parking spot and set out on foot.

                      What I discovered was the address was actually down an alley and only had the number over the door. No sign for the actual company. The person that gave me those very unclear directions provided a bad experience for me.

                      Had they communicated the directions to get there in a clear manner, my experience would have been much better. Instead the entire experience started off poorly and colored the entire meeting.

                      As a recruiter, I frequently provide potential candidates with information about a job I’m speaking to them about. In order to do this, I also provide a picture of the overall company, the group they might be joining, and how their role fits in and impacts the entire company.

                      Time and time again I have been told by candidates that I have provided the clearest picture of a company and role they have ever heard. They have a positive experience when I clearly communicate to them. Even when the position does not work out for them, often times they will want to stay in touch with me due to the open communication and beneficial experience they had during the interviewing process.

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                      Strong communication skills will provide a positive experience in virtually any interaction you have with someone.

                      Help Leadership Skills

                      It’s certainly a skill all its own to be able to lead others.

                      Being a mentor and guiding others towards success is a major hallmark of great leaders. Another characteristic of effective leaders is the ability to communicate clearly.

                      As I referenced above, having a leader who can plainly articulate the company’s mission and direction goes a really long way towards being the Captain of the boat that others want to follow. It’s like saying “here’s our destination and this is how we are going to get there” in a way that everyone can get on board with.

                      Another critical component of everyone helping to sail the boat in the right direction is knowing what your portion is all about. How are you helping the boat move towards its destination in the manner than is consistent with the leaders’ vision?

                      If you have a boss or a manager that can show you what it takes for not only you to be successful, but also how your performance helps the company’s success then you’ve got a winner. A boss with superior communication skills.

                      Build Better Teams

                      Most of us work in teams of some sort or another. During the course of my career, I have led teams up to 80 and also been an individual contributor.

                      In my individual contributor roles, I have been part of a larger team. Even if you are in business for yourself, you have to interact with others in one manner or another.

                      If you have strong communication skills, it helps to build better teams. This is true whether you are in an IT department with 100 other fellow programmers or if you own your own business and have customers or vendors you communicate with.

                      When you showcase your robust ability to communicate well with others while interacting with them, you are building a better team.

                      Now let’s jump in to how to improve communication skills to help you pave the way for your workplace success.

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                      How to Improve Communication Skills for Workplace Success

                      There are many tips, tricks, and techniques to improve communication skills. I don’t want to overwhelm you with too much information, so let’s focus on the things that will provide the biggest return on your time investment.

                      Most of these tips will be fairly easy to become aware of but will take time and effort to implement. So let’s go!

                      1. Listen

                      Ever heard the saying you have two ears and one mouth for a reason? If you haven’t, then here’s the reason:

                      Being a good listener is half the equation to being a good communicator.

                      People who have the ability to really listen to someone can then actually answer questions in a meaningful way. If you don’t make the effort to actively listen, then you are really doing yourself and the other person a disservice in the communication department.

                      Know that person who is chomping at the bit to open his or her mouth the second you stop talking? Don’t be that person. They haven’t listened to at least 1/2 of what you’ve said. Therefore the words that spill out of their mouth are going to be about 1/2 relevant to what you just said.

                      Listen to someone completely and be comfortable with short periods of silence. Work on your listening skills first and foremost.

                      2. Know Your Audience

                      Knowing your audience is another critical component to having strong communication skills. The way you interact with your manager should be different than how you interact with your kids. This isn’t to say you need to be a different person with everyone you interact with. Far from it.

                      Here is a good way to think about it:

                      Imagine using your the same choice of words and body language you use with your spouse while interacting with your boss. That puts things in a graphic light!

                      You want to ensure you are using the type of communication most relevant to your audience.

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                      3. Minimize

                      I have lunch with a business associate about 3 times a year. We’ve been talking for several years now about putting a business deal together.

                      He is one of those people that simply overwhelms others with a lot of words. Sometimes when I ask him a question, I get buried beneath such an avalanche of words that I’m more confused than when I asked the question. Needless to say this is most likely a large portion of why we never put the deal together.

                      Don’t be like my lunch business associate. The goal of talking to or communicating with someone is to share actual information. The goal is not to confuse someone, it’s to provide clarity in many cases.

                      State what needs to be stated as succinctly as possible. That doesn’t mean you can’t have some pleasant conversation about the weather too.

                      The point is to not create such an onslaught of words and information that the other person walks away more confused than when they started.

                      4. Over Communicate

                      So this probably sounds completely counter intuitive to what I just wrote about minimizing your communication. It seems like it might be but it’s not.

                      What I mean by over communicating is ensuring that the other person understands the important parts of what you are sharing with them. This can be done simply yet effectively. Here’s a good example:

                      Most companies have open enrollment for benefits for the employees in the fall. The company I work for has open enrollment from November 1 to 15. The benefits department will send out a communication to all employees around October 1st, letting them know open enrollment is right around the corner and any major changes that year. There’s also a phone number and email for people to contact them with any questions.

                      Two weeks later, we all get a follow up email with basically the same information. We get a 3rd communication the week before open enrollment and another one 1 day before it starts.

                      Finally we get 2 emails during enrollment reminding us when open enrollment ends.

                      There’s minimal information, it’s more of a reminder. This is effective over communication.

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                      5. Body Language

                      The final critical component to how to improve communication skills for workplace success is body language. This is something most of us have heard about before but, a reminder is probably a good idea.

                      When I am in a meeting with someone I am comfortable with, I tend to kind of slouch down in my chair and cross my arms. When I catch myself doing this, I sit up straight and uncross my arms. I remember that crossing arms can many times be interpreted as a sign of disagreement or conflict.

                      In general, the best rule of thumb is to work towards having open body language whenever possible at work. This means relaxing your posture, not crossing your arms, and looking people in the eye when speaking with them.

                      When you are speaking in front of others, stand up straight and speak in a clear voice. This will convey confidence in your words.

                      Conclusion

                      Possessing strong communication skills will help you in many facets of your life and most certainly in the workplace.

                      Good communication helps create better teams, positive experiences with those we interact with, and are critical for leadership.

                      There are numerous tactics and techniques to be used to improve communication skills. Here we’ve reviewed how to improve communication skills for workplace success.

                      Now go communicate your way to success.

                      More Resources About Effective Communication

                      Featured photo credit: HIVAN ARVIZU via unsplash.com

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