Warren Buffett's Recommended Reading List ~ market folly

Saturday, October 3, 2009

Warren Buffett's Recommended Reading List

We're back with the latest iteration of our recommended reading list series. This time around we feature the favorite reads of none other than the Oracle of Omaha himself, Warren Buffett. Over time, he has recommended various books and here is the comprehensive list:

Warren Buffett's Recommended Reading List

Common Stocks and Uncommon Profits by Phil Fisher: Regarding this book, Buffett said that, "I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits and Other Writings. When I met him, I was as impressed by the man as by his ideas. A thorough understanding of the business, obtained by using Phil’s techniques . . . enables one to make intelligent investment commitments."

The Smartest Guys in the Room by Bethany McLean: This was recommended in Buffett's annual letter from 2003 and details the rise and fall of Enron.

The Intelligent Investor by Benjamin Graham: This is an obvious choice as Buffett has said that this is "the most important investment book" and in particular has highlighted chapters 8 and 20 as essential.

John Bogle on Investing: The First 50 Years by John Bogle. This book is more aimed at the fund investing crowd given Bogle's expertise (Vanguard funds). In the past, Buffett has advocated investors who don't have much time on their hands to invest in index funds.

The Essays of Warren Buffett
by Warren Buffett & edited by Larry Cunningham: There's no better way to learn from Buffett than through his own words. Buffett would agree as he says "The most representative book on my thinking is what Larry Cunningham put together."

Sam Walton: Made in America by Sam Walton: Another read Buffett recommended back in 2003, this book details how Walmart was built from the ground up.

And while this next pick is not from Buffett, we wanted to add it to the list because it is an in-depth biography of him. Those of you interested in the investing legend himself should check out The Snowball: Warren Buffett and the Business of Life by Alice Schroeder.

New Recommendations From Buffett From 2012 Annual Letter

The Outsiders by William Thorndike Jr. - A book about CEOs who excelled at capital allocation.

Tap Dancing to Work: Warren Buffett on Practically Everything by Carol Loomis - Authored by Buffett's longtime friend.

The Clash of Cultures: Investment vs Speculation by Jack Bogle - On how certain things have altered the concept of long-term investing

Investing Between the Lines: How to Make Smarter Decisions By Decoding CEO Communications by Laura Rittenhouse - In an age of 'management speak' this helps you read between the lines.

That wraps up Buffet's favorite picks. Make sure to check out some other books recommended by great investors:

- Hedge Fund Blue Ridge Capital's Picks
- Recommendations from Third Point's Dan Loeb

And lastly, here's various lists we've compiled by category:

- Fundamentals & Valuation
- Technical Analysis & Charts
- Books by Stock Market Gurus

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