5 Classic Books Warren Buffett Recommends For Every Entrepreneur!
Warren Buffett
didn’t become a billionaire by just a sheer fluke. By making smart and informed
investment decisions to play a long game and by acquiring a vast amount of
knowledge Warren Buffet has become what he is in the present day.
Today, not many
people want to spend their time reading due to many reasons. But Buffett
reportedly spends around six hours a day reading books. Though it may be a
daunting task for many people due to their hectic lifestyle, if you are highly
inspired by The Oracle of Omaha, you must read around “500 pages” every day.
Warren Buffet
spends 80% of his time reading. He has read a lot of books over the years and has
made book recommendations along the way. However, just like everyone he too has
some of his favorites of all time and would love everyone to read, especially
entrepreneurs who are starting a small startup business.
Here is a list
of five books that every aspiring entrepreneur, solopreneur, and wantrepreneur
must read:
1.
The Intelligent Investor- By Benjamin Graham
At the age of
19, Warren Buffett first read this book in 1950. He points out that it is by
far the best book about investment that includes a proper intellectual
framework for decision making. He has also added a preface to the book`s fourth
edition.
The Intelligent
Investor-written by Benjamin Graham teaches its readers some of the most
invaluable investment strategies regarding value investing in the stock market.
So what is his
favorite way to accumulate knowledge? Reading. Watch the amazing journey of
Warren Buffett here:
2.
Business Adventures: Twelve Classic Tales From the World of Wall
Street- By John Brooks
First published
in 1969, this book is an interesting compilation of Brook`s New Yorker stories.
It takes its readers on a journey where it recounts events such as Ford`s
introduction of the Edsel, and the rapid rise of Xerox in the days before Steve
Jobs disrupted the market with his revolutionary ideas.
When Bill Gates
asked Warren Buffet about his favorite book 19 years ago, Buffet gifted Gates
with his copy of the same book. Though the business world has changed a lot,
Gates says, “Brooks's deeper insights about business are just as relevant today
as they were back then."
3.
Security Analysis- By Benjamin Graham & David L. Dodd
While studying at
Columbia University, Buffett read Security Analysis with both its authors. “Together,
the book and the men changed my life”, he wrote. Since then he has been
following their investment strategy, and it continues to serve him well to
date.
4.
One Thousand Ways to Make $1,000
If you can get
past the dated language, Buffett credits One
Thousand Ways to Make $1000 to kick-start his career. The book was written
in 1936, and Buffett found this book in the school library at the age of 7
years. The lessons embedded in this book have stood the test of time and remain
as valuable as they were back in 1936.
5.
The Most Important Thing- By Howard Marks`s
Warrant Buffett
has always been an advocate for taking risks. But he firmly believes that there
should be a methodology behind it. To help develop that methodology, he
recommends “The Most Important Thing”, by Howard Marks. Marks, co-founder, and
chairman of Oaktree Capital Management is a renowned investor known for his
insightful assessment of market opportunity and risk.
If you want to
understand the dynamics of investment and business, these books are recommended
by Warren Buffett and every entrepreneur must read them.
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