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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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                      Last Updated on October 16, 2018

                      How to Overcome Your Irrational Fears (That Stop You from Succeeding)

                      How to Overcome Your Irrational Fears (That Stop You from Succeeding)

                      She could hear her beautiful baby crying but was frozen in the doorway unable to move. The crying got worse and she knew that unless she comforted the infant soon the baby would be inconsolable, and yet her feet wouldn’t move. She didn’t look at the cot but the floor in front, where the venomous hairy monster sat before her…. .okay it was a UK spider so not likely to kill her at all, and yet still her body was frozen as the tears fell down her face. “What a useless mother you are” she berated herself.

                      That awful mother was me 14 years ago. My fear of spiders had not been controlled for years and I was at the stage where I wouldn’t open a newspaper until my husband had read it and removed the images of spiders. I hated houses that had wooden floors or skirting boards because every knot in the wood could be a spider about to crawl across me.

                      At the height of my fear, I tried to get out of a moving car. Clearly this harmless 8-legged creature had massive levels of power over me but now that fear is gone, I’m never going to love spiders but I’m not going to leave the room because of one and I can read the word without freaking out and sobbing.

                      If you think that fear is irrational, what about the fear of going to airports? Or the fear of not asking for help?

                      Today I want to look at how our irrational fears impact on us, how they can destroy (and I don’t use that word lightly) our success. They can damage our health and even stop us from living our lives. And then I’ll share the benefits of fighting that fear and most importantly how you can fight your fears too.

                      How irrational fears impact your life

                      The thing about irrational fears is that we are not keen to look at them. It makes us feel inadequate, weak and daft because we can’t do things that it seems everyone else can. That gives the fear power.

                      Fear loves negative emotions and saps up yours making your fear bigger and uglier and even more powerful. Not ideal to say the least. Fears can cause us to:

                      • Avoid situations where that fear may have to be faced. Dodging parties, new jobs, new experiences where we aren’t sure we will be able to protect ourselves.
                      • Stop us from sleeping for fear the thing we fear will “get us in the night.” For me this was massive, and I stopped sleeping which had massive implications when my job was to look after a toddler and a baby. I felt half dead most of the time!
                      • Feel ill with the stress. Stress can be the cause of wrong decisions. Drinking alcohol when we shouldn’t, eating chocolate because it makes us feel better, the list of excuses is long that we hold on to so that we can avoid the cause of our stress.
                      • Cause more distress as our minds overload us with negative thoughts of inadequacy. This can damage our confidence. Having coached thousands, I know that a lack of confidence is usually the underlining impactor on most people’s success across all areas of their lives.
                      • Risk looking aloof or arrogant because we won’t participate like other people. Our fears can even isolate us in our personal and professional lives too.
                      • Feel debilitated. Needless to say, these fears may look irrational and shouldn’t exist to the outside world but to the sufferer they are debilitating. Even impacting on their earning potential, love life, hobbies, travels and personal and professional success.

                      Why bother to fight the fear

                      Couldn’t you just ensure you live your life in way that you don’t have to deal with your fear?

                      I had a client that was so scared of flying that they couldn’t even take their partner to the airport, another who had avoided public speaking for over 20 years and yet now at the height of their profession they had no choice, what were they going to do? Quit? There was another who could never ask for help and another who feared people finding out who they really were.

                      All these fears and many more can be fixed but only if we can appreciate the benefits of fighting the fear.

                      Let’s look at the benefits of fighting your fears:

                      If you’re going to change the way you do something, something that has impacted on your life, thoughts and actions for years, it can be hard to believe change is possible.

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                      The first thing you must do is give yourself a big enough reason why. Go back through your life and remember all the occasions that this fear was there.

                      I can still see the spider trapped in my hair because it had obviously been on my hairdryer. I also remember that I probably looked ludicrous in the South of France in my underwear running down the lane screaming and flinging my hair everywhere. The poor spider had not only been flung a long way from my head but was probably destroyed in the flight.

                      Remember the feelings, the actions, the negative feelings you felt afterwards, for me it meant that every time I picked up a hairdryer I could see a spider crawling towards my ear in my hair. Guess how helpful that was for reinforcing my reactions and irrational fear?

                      Really experience the fear. Make it so painful that you probably notice your heart racing, your shoulders drawing up and your breath changing. That fear is causing physical change in your body, doesn’t feel good does it?

                      When the irrational fear is challenged and destroyed, it can’t have power over you. So new opportunities can come your way and instead of fearing them and what people will think of you for your choices, you can be open to;

                      • New hobbies
                      • New travels
                      • New opportunities
                      • More success
                      • Financially more secure
                      • Happier
                      • Healthier
                      • Confident

                      The list is long so what can you do to get rid of your fears?

                      How to fight your irrational fears

                      In my book Fight the Fear: How to Beat Your Negative Mindset and Win in Life, I cover 12 of the biggest fears that I see impact on success and happiness. Not all of these are obvious but they all have far reaching impacts on our lives.

                      Here are some of those ideas to help you fight your fear and get more of what you want out of life:

                      Why did this happen?

                      For some people they really need to know why the fear started, for others all they want is to get rid of it. If you need to understand yours then don’t skip this tip. Learn how your fears are made and appreciate where yours came from. If you don’t care how it arrived, you can jump to top tip 2.

                      I’ve seen some clients who are not prepared to look at how to get rid of the fear until they’ve understood how it got here in the first place. It’s not my place to tell them that is right or wrong, just to help them find the right steps to lead them to a happy path.

                      When a fear first starts, we don’t acknowledge a fear has entered our lives. It is only after a few occasions that we begin to notice that there’s a strong negative emotion connected to this “thing”. That’s how fear is allowed to grow because as humans we have in-built responses that have kept us safe for our entire existence. This means we are meant to perceive fear and either run or fight, either way our bodies jump into action creating physical responses to the perceived threat.

                      Look for when you first noticed the fast heart beat, the shallow breathing, the shaking hands, the redness. You have created an automatic way of dealing with this fear. It could be that it felt sensible to fear this because you had an unhappy outcome, although it is usually the case that your head has the facts and your heart is not prepared to hear them as it creates a version of the event that is far scarier than it actually was.

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                      Learning how to remove the emotions and feelings will help you to change your body’s response. The first time I fixed someone’s fear of public speaking, they told me that it physically closed their throat, I worried that was it possible with words to change our physicality? The answer was yes! With the tools and techniques I share below.

                      The tool kit

                      From the many people that have contacted me after reading Fight the Fear to my clients, I know for even myself creating a tool kit is a must. This is not a bag that you physically must haul everywhere. This is about learning tools that really resonate with you so that when you can feel the fear start to impact on you, you’ve got your kit ready to take it on.

                      I don’t have the space in one article to share all of those tools so let’s visit a few:

                      1. Why I’m awesome

                      Creating a 2-page handwritten document of why you are awesome can help. This document will be packed with achievements, successes, overcoming adversity and all of those will be full of positive emotions, actions and feelings. It is not easy to write, and I get many messages telling me so however it is a powerful reminder that you can stand up and accomplish.

                      2. Draw out your emotions

                      Earlier we looked at how irrational fears can damage every aspect of our lives. If you were to follow the negative spiral down you can follow the positive spiral up again.

                      I draw these individually for clients and with each action, thought or feeling we put an arrow between them. Each arrow is an opportunity to do something different. If we know that irrational fear is an automatic thought process, then we can start to see that we need to think, do or feel something different. Top tip 3 will help with that.

                      3. Acknowledge that you need to change

                      It’s not easy to change, and that is a belief that many hold. Top tip 4 could assist further, however for this tip, remember that when you want to do, think or feel differently, you’ve already achieved the first step and that is recognizing something must change (you don’t need to know what). But if you aren’t sure yet if there’s really something different you want to do, this story about Nancy may help you to figure it out.

                      Then it’s about acknowledging it. That means not only accepting it but feeling that it is yours to take on and change.

                      Then for 2 weeks, decide that you won’t allow the thought to be in your head. There are usually some negative thoughts allowed to fester in your head. At this stage, just say “No I’d like you to stop.” After 2 weeks choose a new thought that you would prefer to hear in your head, maybe “I can cope with situations that scare me” or “I am stronger than I know”.

                      There will be times when you fail. Don’t berate yourself because that is another negative thought you are allowing your head to process. Just start again and at times like that have a read of your “Why I’m awesome list”.

                      4. Choose your words carefully.

                      I’ve heard many clients tell me that “It’s going to be hard to change” “I can’t remember a time in my life where I wasn’t petrified” or “This is a lot to ask”. Any thought that gives power to your fear takes away power from you to fight it. Therefore, choose how you word your goal to overcome your fear carefully.

                      Think thoughts like “I remember when I achieved xxxx and that reminds me I’m far tougher and more capable than I give myself credit for”. (Take the xxx from your why I’m awesome document.)

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                      5. Believe that you have the control power

                      The only person that can control what we think and feel is us. I know it can feel like other people are impacting on us, however they can only do that if we give them permission to do so.

                      If you really think about that for a moment, can you see that you have the right to think and feel anything you want right now? I’m certain you wouldn’t choose pain, fear or anxiety. So, what would you choose to think about your fear?

                      6. Put up physical reminders

                      Working one to one, I can find the fear, work through it and create a tool kit of thoughts, feelings and actions that will help them fight that fear and get rid of it. For some, they don’t need physical things to help them; others do.

                      For example, the CEO who was petrified of public speaking but could handle a conference call with 300 without a second thought, imagined the microphone was a phone when they spoke in front of 400 people to help reinforce the positive thoughts and ideas we’d created.

                      Or the client that always worried that they were an imposter and “someone else can do this better” pinned on their office wall a tag cloud of all the words that made up their “Why I’m awesome document”.

                      So they had a daily reminder. They were the right one for the job and they could do it. These daily reminders all come down to one key point — help you to Hack the Habit Loop.

                      What would be your visual clues to remind you that you can overcome this?

                      7. Physical supports

                      Music, environment and even smells can impact on us. Know the music that makes you feel alive and ready for anything. Try aromatherapy oils to feel positive and energised. Even choose your work environment or clothing to empower you.

                      Changing these things is physical and giving yourself physical ideas to action can help power up your emotional state too.

                      8. Don’t go it alone

                      The fear to ask for help is very real (and has a whole chapter in my book) so I know people really struggle with this. The fact is we all need people. We are not insular by design and as such it can be tough to admit that you have a fear impacting on you.

                      However, by sharing your fear with a trusted friend, colleague or loved one can mean that when you are feeling the fear. you can talk to someone. It could be that you share with them the contents of your tool kit and ask their permission to be added to it. That way they know what works for you and how to best support you.

                      It’s not a sign of weakness to tell people about your fear. It takes massive levels of strength to say, “I have this fear, and I want to get rid of it.”

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                      9. Get physical

                      One of the reasons that a fear can escalate is because we have come to accept that response. Our body reacted in a certain way, once repeated the behaviour and it became a formed habit that was accepted.

                      Challenging a fear can be done using our body too when we appreciate that fear is actually a reaction inside our bodies. We don’t need to understand where in our brains or what chemicals are racing through us to use our physicality to help us challenge our fears.

                      When I was writing my book, the Cuddy Superhero pose was proved and disproved by various researchers around the world 3 times. Whether it’s real or not, the fact is the way we stand, the way we breathe and even the speed at which we speak can impact on us as well as those around us.

                      If you have a fear of public speaking or a fear of people thinking you are stupid or a fear of what people are thinking you can look at how you speak, stand and move. If you compare these with people you deem confident and happy in these situations, how do you look? What can you learn?

                      The research around placebo’s reinforces us that if it feels like it is working, then keep doing it! What could you use to help reinforce your power and fearlessness?

                      A little fear can be good

                      As someone famous once says:

                      “It is not fear, it is performance energy.”

                      Despite having an absolute hatred of public speaking 10 years ago, I now love an audience and yet I have a healthy level of fear. That level of fear says “Are you well prepared?” “Do you know your audience?” “Have you rested your voice?” “You really want to deliver to this audience what they need” And those thoughts are sensible.

                      And just remember, it’s never ever too late to face your fear and do what you desire most! It’s even possible to start over your life no matter what stage of life you’re at. Here’s the proof:

                      How to Start Over and Reboot Your Life When It Seems Too Late

                      So as you reduce your fear, be aware of a good level of fear.

                      Featured photo credit: Isaiah Rustad via unsplash.com

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