Warren Buffett: 11 Books That Made Me MILLIONS (Must READ)

Summary

In this video, the host discusses 11 books recommended by Warren Buffett for investors, emphasizing their significance in shaping investment strategies. Titles include 'Common Stocks and Uncommon Profits' by Philip A. Fisher, 'The Intelligent Investor' by Benjamin Graham, and 'Poor Charlie’s Almanack' featuring insights from Charlie Munger. The list reflects Buffett's belief in value investing, the importance of understanding business fundamentals, and the wisdom of long-term, rational investment approaches.

Takeaways

• 📚 Warren Buffett recommends 11 essential books for investors, reflecting his belief in the importance of reading and learning from the past.
• 🧐 Buffett spends 80% of his day reading, emphasizing the value he places on continuous education and knowledge acquisition.
• 💡 'Common Stocks and Uncommon Profits' by Philip A. Fisher is highlighted for its influence on Buffett's investment strategies, especially the importance of in-depth company research.
• 🏛 'Business Adventures' by John Brooks is Buffett's recommended read on business, offering timeless insights into corporate life and financial markets.
• 🤣 'Where Are the Customers’ Yachts?' by Fred Schwed uses humor to critique Wall Street, a book Buffett finds both funny and insightful about the realities of investing.
• 📈 'Essays in Persuasion' by John Maynard Keynes is recognized for its economic foresight and relevance to understanding securities and markets.
• 📊 'The Little Book of Common Sense Investing' by Jack Bogle promotes the concept of low-cost, passive index funds as a sound investment strategy, aligning with Buffett's views on investing simplicity.
• 🤝 'Poor Charlie’s Almanack' captures the wisdom of Charlie Munger, Buffett's partner, and his unconventional approach to life and investing.
• 📘 'The Intelligent Investor' by Benjamin Graham is considered the bible of investing and was instrumental in shaping Buffett's value investing philosophy.
• 🔑 'The Most Important Thing' by Howard Marks discusses key investment concepts, including the importance of second-level thinking and defensive investing.
• 🏆 'The Outsiders' by William Thorndike Jr. celebrates CEOs who achieved exceptional performance by taking a unique approach to corporate management.
• 🌐 'The Clash of the Cultures' by John Bogle addresses the shift in the mutual fund industry and offers 10 common-sense rules for investing.
• 🌟 'Dream Big' by Cristiane Correa tells the story of 3G Capital, a firm that has partnered with Berkshire Hathaway, and is praised by Buffett for its business acumen.

Q & A

What is the full name of Warren Buffett?

Warren Edward Buffett.

What percentage of his day does Warren Buffett reportedly spend reading?

Warren Buffett spends 80% of his day reading.

Which book did Warren Buffett recommend to Bill Gates as his favorite about business?

Buffett recommended 'Business Adventures: Twelve Classic Tales from the World of Wall Street' by John Brooks to Bill Gates.

What is the title of the book that Warren Buffett called 'the funniest book ever written about investing'?

The book is 'Where Are the Customers’ Yachts?' by Fred Schwed.

What economic concept does John Maynard Keynes explore in his book 'Essays in Persuasion'?

Keynes explores economic fluctuations and their impact on the economies of Europe and the United States, as well as the possibilities of economic growth.

What is the significance of the first index fund created by Jack Bogle?

Jack Bogle's creation of the first index fund introduced a low-cost, passive investing strategy that has become a prevailing investment idea and led to the establishment of one of the most respected investment companies in the world.

Who is Charles T. Munger and what is his relationship to Warren Buffett?

Charles T. Munger is the Vice President of Berkshire Hathaway and is described by Warren Buffett as his closest partner and right-hand man.

What book is considered the bible of investing and had a profound impact on Warren Buffett's investment philosophy?

The Intelligent Investor by Benjamin Graham is considered the bible of investing and greatly influenced Buffett's investment approach.

What is the main investment strategy Howard Marks discusses in 'The Most Important Thing: Uncommon Sense for the Thoughtful Investor'?

Howard Marks discusses value investing and the importance of understanding the complexities of investing and the perils of the financial world.

What is the central theme of the book 'The Outsiders' by William Thorndike Jr.?

The book 'The Outsiders' details the success of CEOs who took a radically different approach to corporate management, focusing on their traits and methods that led to exceptional performance.

What is the main message of John Bogle's book 'The Clash of the Cultures: Investment vs. Speculation'?

Bogle's book emphasizes the importance of 'Common Sense Investing' and shares a list of 10 simple rules for regular investors to follow, advocating for a strategy that is more reliable than many others.

What story does 'Dream Big' by Cristiane Correa tell and why is it significant to Warren Buffett?

The book tells the story of the Brazilian trio behind 3G Capital, a private-equity firm with which Berkshire has partnered on several deals. Buffett's relationship with 3G's Jorge Paulo Lemann is long-standing, and he considers Lemann and his team to be among the best businessmen in the world.