Warren Buffet, also known as the “Oracle of Omaha,” was born in Omaha, Nebraska in 1930. He is credited with being one of the most successful investors of a generation. Certainly, he’s one of the world’s wealthiest and highly admired businessmen
At a young age, he had demonstrated strong business abilities.
By age 13, Buffet was working his own paperboy business and advertising his own horseracing tip sheet. The same year, he submitted his first tax report, reporting a tax credit of $35 for his bicycle.
In 1956 he founded Buffett Partnership Ltd., and by 1965, he had taken over Berkshire Hathaway, which led Buffet to become the rich and influential businessman and philanthropist that he is today.
Buffett has also been a passionate reader and has encouraged young people to learn and read every day.
At the beginning his investment career, when Buffett was young, he would read 800, 1000 pages or even 1500 pages a day, to gain knowledge and know everything there is to know about the investment industry!
Warren Buffet says that he used to and still spends 80% of his time reading books.
Below are some of the books that might be on his reading list. You might also want to check out my longer post of the top 26 investing books.
So without further ado:
Dream Big, Cristiane Correa
Dream Big, published in 2013 by Cristiane Correa, is a book about how in over 40 years, three Brazilians managed to build the largest empire in the history of Brazilian capitalism.
Harvard graduate, tennis champion, and deep-sea fishing enthusiast from Rio de Janeiro, Jorge Paulo Lemann, decided to start a new business in 1971 when the Brazilian stock market was going through a crisis.
He called some partners and published a newspaper advertisement: “Brokerage Wanted.” Days later, Lemann started running what was to become his the foundation of his fortune employing more than 200 people. Paulo, as it turns out, is a friend and partner of Buffet!
The Outsiders, Will Thorndike, Jr
Author Will Thorndike, Jr. brings in this insightful, counterintuitive book, the critical experience of a rich career in investment, closely examining the efficiency of businesses and their leadership.
This book shares the life experiences of eight influential and successful CEOs, in which one of the Outsiders is Warren Buffet himself! The 8 CEOs are known as the outsiders In the book, and they all had Wall Street amazed by their abilities.
This book describes these eight philanthropists as “Outsiders,” as they never used the mainstream trends that most people use to make a name for themselves; instead, they all used different techniques and methods. Warren Buffet says it’s an excellent book about CEOs who were excellent at resource allocation.
The Little Book of Common Sense Investing, John C. Bogle
Published by John C. Bogle, The Little Book of Common Sense Investing is a guide to marketing and investment creativity. I’ve written about this book elsewhere on the blog but since Warren Buffet has spoken about it previously.
Bogle explains the easiest and most powerful long-term investment strategy is to purchase and keep a mutual fund at a very low cost that follows a large stock market index.
This investment strategy is favored by Warren Buffett himself, who claims that John Bogle is the one person who has done the most for all American investors and is a hero to those fellow Americans and Warren Buffet as well!
In this book, Bogle teaches you how to make index portfolios work for you and help you meet your financial ambitions, and helps you to receive guidance from some of the greatest strategic minds in the world like Warren Buffet and Benjamin Graham.
Stress Test: Reflections on Financial Crises, Timothy F. Geithner
In this book, Timothy F. Geithner recalls his early days as a young Treasury official working to counter the foreign financial crisis of the 1990s.
He explains what he heard, what he learned, and what he overlooked while at the New York Fed before the Wall Street crash went into bankruptcy.
Secretary Geithner often outlines the aftershocks of the recession, including attempts by the government to address rising unemployment, a sequence of intense political fights over budgets and debt, and the uncertainty over Europe’s approach to tackling the 2008 credit crisis.
Security Analysis, Benjamin Graham
Security Analysis, published by Benjamin Graham, and with a foreword by Warren Buffett, is one of the most influential books in the development of financial reporting.
The first edition was published in 1934 and has already sold more than a million copies. For over 60 years, this book has been printing continuously.
Security Analysis was one of the few investment books at that time that had an impact on the financial sector.
Benjamin Graham and his partner discuss tactics and methods for generating profitability as private investors, as well as the business decision-makers’ responsibility for creating shareholder confidence and openness for such owners.
This is one of Buffet’s favorite books because Benjamin Graham and David Dodd were Buffet’s teachers in college.
Twelve Classic Tales from the World of Wall Street, John Brooks
Wall Street stories are filled with excitement and action and expose the manoeuvrings and instability of the finance community.
The writing of New Yorker author John Brooks is so full of character and vital information that when he looks at the spectacular market crash of 1962 or the failure of well-known investment companies he suggests that history is repeating itself once again.
Buffet liked the book so much that he sent a copy to Microsoft founder, Bill Gates!