Warren Buffett, nicknamed the Oracle of Omaha, is renowned for his unparalleled success in the stock market. In the world of investing and financial acumen, few names command as much admiration as him. He has often credited his voracious reading as a cornerstone of his achievements. He shares some of his favourite books in his letters to shareholders every year. This article curates the top picks from the list of books recommended by Warren Buffett.
Table of Contents
- Take on the Street, by Arthur Levitt
- The Little Book of Common Sense Investing, by John C. Bogle
- The Intelligent Investor, by Benjamin Graham
- Poor Charlie’s Almanack, by Charles T. Munger
- Limping on Water, by Philip Beuth
- The Outsiders, by William N. Thorndike Jr.
- Shoe Dog, by Phil Knight
- Tap Dancing to Work, by Carol J. Loomis
- The Berkshire Hathway Letters to Shareholders, by Warren Buffett
Take on the Street, by Arthur Levitt
Take on the Street is a book that delves into the author's experiences as the chairman of the U.S. Securities and Exchange Commission (SEC). In the book, Arthur provides insights into the challenges and reforms needed in the financial industry to protect investors and maintain market integrity. It provides a better-informed view of the financial system, making it one of the best books recommended by Warren Buffett.
The Little Book of Common Sense Investing, by John C. Bogle
The Little Book of Common Sense Investing advocates for a passive investment strategy. John promotes a long-term, disciplined investment strategy that aligns with Warren Buffett's emphasis on prudent and patient investing. He discusses the benefits of low-cost index funds and highlights the pitfalls of active investing.
The Intelligent Investor, by Benjamin Graham
The Intelligent Investor is probably one of the most recommended books by Warren Buffett. It’s a foundational book on value investing and financial analysis. Benjamin’s principles, which include a margin of safety and a focus on intrinsic value, have significantly influenced Warren Buffett's investment philosophy. The book emphasises a rational and disciplined approach to stock selection. It’s a philosophy Buffett has credited as a key influence on his own strategy.
Poor Charlie’s Almanack, by Charles T. Munger
Poor Charlie’s Almanack is a compilation of speeches and writings by Charles T. Munger. In case you don’t know, he’s Buffett's longtime business partner. The book covers Munger’s multidisciplinary approach to problem-solving, business and life. And it provides a glimpse into his eclectic mindset, which complements Buffett’s investment philosophy.
Limping on Water, by Philip Beuth
Limping on Water is the memoir of Philip Beuth, working as an executive of Capital Cities/ABC-TV for 40 years. It’s a personal and professional account of the golden era of television, as well as a testament to the power of the human spirit. In the book, Philip shared his experiences of working in the broadcasting industry and meeting celebrities and influential people. It’s a story of how one can overcome challenges with perseverance and creativity.
The Outsiders, by William N. Thorndike Jr.
The Outsiders is another of the top books recommended by Warren Buffett. It examines the unconventional strategies employed by successful CEOs, including Warren Buffett. The book analyses the capital allocation and management approaches of these CEOs, shedding light on their distinctive and effective leadership styles.
Shoe Dog, by Phil Knight
Shoe Dog is a memoir that chronicles the founding and growth of Nike, Inc. It’s an inspirational story of the entrepreneurial journey of Phil, the co-founder, and the creation of Nike. The book offers lessons on perseverance, innovation and determination. Phil shares his challenges and triumphs of building one of the most iconic and successful athletic brands in the world.
Tap Dancing to Work, by Carol J. Loomis
Tap Dancing to Work is a compilation of articles and essays by Carol J. Loomis, a longtime friend and confidante of Warren Buffett. The book provides insights into Warren Buffett's life and his investment philosophy. It offers a unique perspective on Buffett's principles, decisions and their broader implications. You’ll get a comprehensive view of Warren Buffett’s career through the lens of a trusted observer.
The Berkshire Hathway Letters to Shareholders, by Warren Buffett
The Berkshire Hathaway Letters to Shareholders" compiles Warren Buffett's annual letters to shareholders from 1965 to 2014. The letters provide a wealth of knowledge on his investment philosophy and business insights. There aren’t many accounting books recommended by Warren Buffett. Instead, he suggests reading these letters and other balance sheets to learn about accounting. The book provides direct access to Buffett's wisdom and reflections.
OK, those were all the books recommended by Warren Buffett I have for you. From investing principles to reflections on business and leadership, each book provides a glimpse into the mindset that has led to his successful career in finance and business.
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