20 Mind-Blowing Investing Books Often Recommended by Warren Buffett

These books add further depth to understanding Buffett’s approach to investing, offering both practical advice and biographical insights into his career. These books collectively offer deep insights into value investing, long-term strategy, and sound financial principles that align with Buffett’s investment philosophy.

1. The Intelligent Investor

by Benjamin Graham

– Often cited by Buffett as the best book on investing ever written.

The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham’s philosophy of “value investing” — which shields investors from substantial error and teaches them to develop long-term strategies — has made The Intelligent Investor the stock market bible ever since its original publication in 1949.

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2. Security Analysis

by Benjamin Graham and David Dodd

– Another fundamental text that influenced Buffett’s investment philosophy.

Benjamin Graham’s revolutionary theories have influenced and inspired investors for nearly 70 years. First published in 1934, his Security Analysis is still considered to be the value investing bible for investors of every ilk.

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3. Common Stocks and Uncommon Profits

by Philip Fisher

– Buffett has said he’s 85% Graham and 15% Fisher. This book helped shape his focus on investing in quality companies.

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4. The Essays of Warren Buffett: Lessons for Corporate America

by Warren Buffett, edited by Lawrence A. Cunningham

– A compilation of Buffett’s annual shareholder letters, offering insights into his investment strategies and philosophy.

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5. Poor Charlie’s Almanack

by Charlie Munger

– A collection of speeches and essays by Buffett’s long-time partner, covering topics on rational thinking, investment principles, and life lessons.

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6. A Random Walk Down Wall Street

by Burton Malkiel

– Provides a comprehensive overview of different investing strategies and supports the idea of long-term, passive investing, which aligns with Buffett’s approach.

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7. The Outsiders

by William N. Thorndike

– Buffett has recommended this book about eight unconventional CEOs and their management and capital allocation skills.

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8. The Little Book of Common Sense Investing

by John C. Bogle

– Buffett has praised Jack Bogle and his promotion of low-cost index fund investing, which is a key theme of this book.

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9. Business Adventures

by John Brooks

– Buffett gave this book to Bill Gates, and they both have said it’s one of the best business books ever written.

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10. The Warren Buffett Way

by Robert G. Hagstrom

– Explains Buffett’s investment philosophy and strategies through analysis of his major investments.

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11. The Most Important Thing

by Howard Marks

– Buffett has often quoted and praised Howard Marks’ memos to Oaktree Capital clients, and this book distills many of those insights.

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12. The Clash of the Cultures: Investment vs. Speculation

by John C. Bogle

– Another one of Bogle’s works recommended by Buffett for its take on long-term investing versus speculative trading.

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13. The Intelligent Asset Allocator

by William Bernstein

– Offers advice on the importance of asset allocation in investing, another principle that Buffett has highlighted in discussions.

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14. Where Are the Customers’ Yachts?

by Fred Schwed Jr.

 – A humorous take on Wall Street that Buffett has said is one of his favorite books.

“Where Are the Customers’ Yachts?” is a witty and timeless critique of Wall Street and the financial industry, first published in 1940. Schwed, a former stockbroker, humorously exposes the absurdities and ironies of the financial world, focusing on how brokers, bankers, and financial professionals often profit handsomely, while the average investor is left wondering where their wealth went. The title itself stems from a famous anecdote about a visitor to New York who admired the luxurious yachts of bankers and brokers, only to ask, “But where are the customers’ yachts?”

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15. Jack: Straight from the Gut

by Jack Welch

– Although not directly an investment book, Buffett has expressed admiration for Jack Welch’s leadership at GE, and this autobiography offers insights into Welch’s management style.

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16. The Little Book That Still Beats the Market

by Joel Greenblatt

– Greenblatt presents a simple investment strategy for value investing, which aligns with Buffett’s principles of buying undervalued companies.

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17. Buffett: The Making of an American Capitalist

by Roger Lowenstein

– A biography of Warren Buffett that explores his life, investment strategies, and how he built his fortune, which Buffett has spoken highly of.

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18. The Snowball: Warren Buffett and the Business of Life

by Alice Schroeder

– The authorized biography of Buffett, filled with personal stories and insights into his investment philosophy and life decisions.

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19. Tap Dancing to Work: Warren Buffett on Practically Everything

by Carol J. Loomis

– A collection of Fortune magazine articles on Buffett over several decades, offering insight into his business decisions and investment strategies.

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20. Fortune’s Formula

by William Poundstone

– This book explains how mathematical strategies have influenced financial decision-making. Buffett has praised it for its explanation of the Kelly Criterion, which can be applied to portfolio management.

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Xandra

I love writing stories about anything people love.

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