Introduction
Warren Buffett is one of the most successful investors and businessmen of all time. He is the chairman and CEO of Berkshire Hathaway, a multinational conglomerate that owns and operates dozens of companies in various industries.
Known by beat index funds managers, he is Warren Buffett.
He is also known for his philanthropy, having pledged to donate most of his fortune to charitable causes.
But how did Warren Buffett achieve such extraordinary results? What are the principles and strategies that guide his decisions? What can we learn from his wisdom and experience?
One way to answer these questions is to read the investment books that he has written or endorsed. These books offer valuable insights into his mind, his methods, and his philosophy. They also reveal his personality, his passions, and his challenges.
In this article, we will present a list of must-read books by and about Warren Buffett. Whether you are an aspiring investor, a curious reader, or a fan of the Oracle of Omaha, these books will enrich your knowledge and inspire you to emulate his success.
Essential Warren Buffett Books to Explore
The first category of books that we recommend are the ones that Warren Buffett himself has authored or co-authored. These books contain his own words and thoughts on various topics related to investing, business, and life. They are the closest you can get to learning directly from the master.
The Essays of Warren Buffett
This book is a collection of Warren Buffett’s annual letters to the shareholders of Berkshire Hathaway, edited and arranged by Lawrence Cunningham, a law professor and an expert on corporate governance. The letters span from 1979 to 2019, covering four decades of Buffett’s remarkable career.
The book is divided into seven sections, each focusing on a key theme, such as corporate governance, finance and investing, mergers and acquisitions, valuation and accounting, and taxation. The book also includes an introduction by Buffett himself, explaining his approach and style of writing.
The essays are full of wisdom, humor, and candor. They showcase Buffett’s clear and concise communication, his logical and rational thinking, and his ethical and principled values. They also provide a glimpse into the history and evolution of Berkshire Hathaway, as well as the challenges and opportunities that it faced over the years.
The Essays of Warren Buffett is a classic and indispensable book for anyone who wants to understand how Warren Buffett thinks and operates. It is also a great source of inspiration and guidance for investors, managers, and entrepreneurs.
Warren Buffett and the Interpretation of Financial Statements
This book is co-authored by Warren Buffett’s former daughter-in-law, Mary Buffett, and financial analyst David Clark. It is a practical and easy-to-read guide on how to read and analyze financial statements, using Warren Buffett’s methods and criteria.
The book explains the basics of accounting and financial reporting, and how to interpret the three main financial statements: the income statement, the balance sheet, and the cash flow statement. It also reveals the secrets and tricks that Warren Buffett uses to identify the most profitable and durable businesses, and to avoid the ones that are risky or overvalued.
The book is full of examples and illustrations, showing how Warren Buffett applies his principles and techniques to real-world companies. It also includes a checklist of questions that Warren Buffett asks himself when evaluating a potential investment.
Warren Buffett and the Interpretation of Financial Statements is a useful and accessible book for anyone who wants to learn how to read and understand financial statements, and how to use them to make better investment decisions. It is also a valuable resource for anyone who wants to follow Warren Buffett’s footsteps and emulate his success.
Buffett: The Making of an American Capitalist
This book is a comprehensive and authoritative biography of Warren Buffett, written by Roger Lowenstein, a journalist and a best-selling author. It is based on extensive research and interviews with Warren Buffett, his family, his friends, his colleagues, and his rivals.
The book covers the entire life and career of Warren Buffett, from his childhood in Omaha, Nebraska, to his rise as one of the most influential and respected investors and businessmen in the world. It also explores his personal and professional relationships, his hobbies and interests, his successes and failures, and his joys and sorrows.
The book is a captivating and insightful portrait of Warren Buffett, revealing his strengths and weaknesses, his virtues and flaws, his motivations and aspirations, and his challenges and achievements. It also provides a rich and detailed account of the history and development of the American economy, the financial markets, and the corporate world.
Buffett: The Making of an American Capitalist is a fascinating and informative book for anyone who wants to know more about Warren Buffett, the man and the legend. It is also a compelling and inspiring book for anyone who wants to learn from Warren Buffett, the investor and the leader.
Books About Warren Buffett’s Life
The next category of books that we recommend are the ones that are written about Warren Buffett, by other authors who have studied or observed him closely. These books offer different perspectives and insights into his life, his personality, his philosophy, and his legacy.
The Snowball: Warren Buffett and the Business of Life
This book is another biography of Warren Buffett, written by Alice Schroeder, a former Wall Street analyst and a close friend of Warren Buffett. It is based on years of access and cooperation from Warren Buffett, who granted her unprecedented interviews and access to his private papers, records, and family.
The book is a comprehensive and intimate account of Warren Buffett’s life, from his early years as a precocious and ambitious boy, to his later years as a philanthropic and influential billionaire. It also chronicles his remarkable journey as an investor, a businessman, a mentor, and a teacher.
The book is a vivid and engaging narrative of Warren Buffett’s life, revealing his passions and principles, his successes and struggles, his joys and regrets, and his hopes and fears. It also provides a rare and candid glimpse into his personal and professional relationships, his hobbies and habits, his quirks and eccentricities, and his generosity and humility.
The Snowball: Warren Buffett and the Business of Life is a captivating and enlightening book for anyone who wants to get to know Warren Buffett, the human being and the icon. It is also a motivating and uplifting book for anyone who wants to emulate Warren Buffett, the investor and the philanthropist.
Buffett: The Biography
This book is a concise and updated biography of Warren Buffett, written by Robert Hagstrom, a portfolio manager and a best-selling author. It is based on extensive research and interviews with Warren Buffett, his associates, and his critics.
The book covers the main events and milestones of Warren Buffett’s life and career, from his birth in 1930, to his latest achievements and challenges in 2020. It also analyzes his investment philosophy and strategy, his business acumen and vision, and his leadership style and influence.
The book is a clear and succinct summary of Warren Buffett’s life, highlighting his key traits and skills, his core values and beliefs, and his major accomplishments and contributions. It also provides a balanced and objective assessment of his strengths and weaknesses, his opportunities and threats, and his successes and controversies.
Buffett: The Biography is a useful and informative book for anyone who wants to get a quick and comprehensive overview of Warren Buffett, the investor and the businessman. It is also a relevant and timely book for anyone who wants to follow Warren Buffett’s current and future endeavors.
Learn From Warren Buffett’s Letters
The third category of books that we recommend are the ones that contain or analyze Warren Buffett’s letters to the shareholders of Berkshire Hathaway. These letters are considered to be one of the most valuable and educational sources of information and advice on investing, business, and life.
Berkshire Hathaway Letters to Shareholders
This book is a compilation of all the letters that Warren Buffett has written to the shareholders of Berkshire Hathaway, from 1965 to 2020. It is edited by Max Olson, a software engineer and a fan of Warren Buffett.
The book is a treasure trove of wisdom, humor, and insight. It contains Warren Buffett’s thoughts and opinions on various topics, such as corporate governance, finance and investing, mergers and acquisitions, valuation and accounting, taxation, economics, politics, and philanthropy. It also reports the performance and progress of Berkshire Hathaway, as well as the challenges and opportunities that it faced over the years.
The book is a must-read for anyone who wants to learn from Warren Buffett, the master of investing and business. It is also a great reference for anyone who wants to study Warren Buffett, the writer and communicator.
The Warren Buffett Shareholder: Stories from Inside the Berkshire Hathaway Annual Meeting
This book is a collection of stories and experiences from the attendees of the Berkshire Hathaway annual meeting, also known as the Woodstock of Capitalism. It is edited by Lawrence Cunningham and Stephanie Cuba, both experts and authors on Warren Buffett and Berkshire Hathaway.
The book is a fun and informative read. It captures the excitement and the atmosphere of the Berkshire Hathaway annual meeting, where thousands of shareholders gather to listen to Warren Buffett and his partner Charlie Munger answer questions and share their wisdom. It also features stories and anecdotes from the speakers, the panelists, the journalists, the authors, the fans, and the celebrities who attend the event.
The book is a unique and valuable book for anyone who wants to experience the Berkshire Hathaway annual meeting, or to relive their memories of it. It is also an entertaining and educational book for anyone who wants to hear from the Warren Buffett shareholders, the loyal and diverse community of investors and admirers.
Books That Warren Buffett Recommends
The fourth category of books that we recommend are the ones that Warren Buffett has recommended or praised in his letters, interviews, or speeches. These books are not directly related to Warren Buffett, but they reflect his interests and influences, and they offer useful and relevant lessons and insights on investing, business, and life.
Business Adventures: Twelve Classic Tales from the World of Wall Street
This book is a collection of twelve stories about the American business and financial history, written by John Brooks, a journalist and a writer for The New Yorker. It was first published in 1969, and it was recommended by Warren Buffett to Bill Gates, who also considers it his favorite business book.
The book covers various topics and events, such as the rise and fall of Xerox, the scandal of General Electric, the crash of 1962, the failure of Ford Edsel, the success of Piggly Wiggly, and the insider trading of Texas Gulf Sulphur. The book also features profiles and interviews of some of the most influential and colorful figures in the business world, such as David Rockefeller, Henry Ford II, Ross Perot, and Ed Sullivan.
The book is a timeless and engaging book for anyone who wants to learn about the American business and financial history, and the lessons and insights that it offers. It is also a captivating and enjoyable book for anyone who wants to read about the stories and personalities that shaped the world of Wall Street.
The Intelligent Investor by Benjamin Graham
This book is a classic and influential book on value investing, written by Benjamin Graham, a professor and a mentor of Warren Buffett. It was first published in 1949, and it has been revised and updated several times, with the latest edition featuring a commentary by Jason Zweig, a financial journalist and a columnist for The Wall Street Journal.
The book explains the principles and techniques of value investing, which is the art of buying stocks that are undervalued by the market, and holding them for the long term. The book also distinguishes between the two types of investors: the defensive investor, who seeks a safe and steady return, and the enterprising investor, who seeks a higher and more challenging return.
The book is a must-read for anyone who wants to learn about value investing, and the philosophy and strategy that Warren Buffett follows. It is also a useful and practical book for anyone who wants to apply value investing to their own portfolio and decisions.
Common Stocks and Uncommon Profits
This book is another classic and influential book on value investing, written by Philip Fisher, a pioneer and a legend in the field. It was first published in 1958, and it was endorsed by Warren Buffett, who said that he was “an eager reader” of Fisher’s books, and that he learned a lot from them.
The book introduces the concept of “scuttlebutt”, which is the practice of gathering information and insights from various sources, such as customers, suppliers, competitors, and employees, before investing in a company. The book also presents the fifteen points that Fisher uses to evaluate a potential investment, such as the quality of management, the growth potential, the competitive advantage, and the profit margin.
The book is a valuable and insightful book for anyone who wants to learn about value investing, and the methods and criteria that Warren Buffett uses. It is also a helpful and relevant book for anyone who wants to improve their research and analysis skills, and to find the best stocks to invest in.
Explore Warren Buffett’s Investment Strategies
The fifth and final category of books that we recommend are the ones that explore and explain Warren Buffett’s investment strategies, and how to apply them to your own investments. These books are written by experts and authors who have studied and followed Warren Buffett’s methods and results, and who have distilled and simplified them for the benefit of the readers.
The Warren Buffett Way
This book is a best-selling and influential book on Warren Buffett’s investment philosophy and strategy, written by Robert Hagstrom, a portfolio manager and a best-selling author. It was first published in 1994, and it has been revised and updated several times, with the latest edition featuring a foreword by Warren Buffett himself.
The book describes the ten principles that Warren Buffett uses to select and manage his investments, such as business, management, financials, value, market, risk, portfolio, and behavior. The book also illustrates these principles with examples and case studies of some of Warren Buffett’s most successful and famous investments, such as Coca-Cola, American Express, GEICO, and The Washington Post.
The book is a comprehensive and accessible book for anyone who wants to learn about Warren Buffett’s investment philosophy and strategy, and how to apply them to their own investments. It is also a practical and useful book for anyone who wants to improve their investment performance and results.
The Warren Buffett Portfolio
This book is a sequel and a companion to The Warren Buffett Way, written by the same author, Robert Hagstrom. It was first published in 1999, and it has been revised and updated several times, with the latest edition featuring a new introduction by the author.
The book focuses on the concept and practice of “focus investing”, which is the strategy of building a concentrated portfolio of high-quality and undervalued stocks, and holding them for the long term. The book explains the benefits and challenges of focus investing, and how to overcome the psychological and emotional barriers that prevent most investors from adopting it.
The book also provides a framework and a process for selecting and managing a focus portfolio, based on Warren Buffett’s criteria and techniques. The book also includes examples and case studies of some of Warren Buffett’s focus investments, such as Wells Fargo, Gillette, and BNSF Railway.
The book is a valuable and insightful book for anyone who wants to learn about focus investing, and how to implement it in their own portfolio. It is also a helpful and relevant book for anyone who wants to follow Warren Buffett’s portfolio and decisions.
Conclusion: Final thoughts
In this article, we have presented a list of must-read books by and about Warren Buffett. These books offer a wealth of information and advice on investing, business, and life, from the perspective and experience of one of the most successful and respected investors and businessmen of all time.
Whether you are an aspiring investor, a curious reader, or a fan of the Oracle of Omaha, these books will enrich your knowledge and inspire you to emulate his success. You will undestand the psychology of money as well, and your personal finance will be better!
We hope that you have enjoyed this article, and that you will find these books useful and interesting. Happy reading!
FAQ
Who is Warren Buffett?
Warren Buffett is the chairman and CEO of Berkshire Hathaway, a multinational conglomerate that owns and operates dozens of companies in various industries. He is also one of the most successful investors and businessmen of all time, with a net worth of over $100 billion as of 2020.
What is Berkshire Hathaway?
Berkshire Hathaway is a multinational conglomerate that owns and operates dozens of companies in various industries, such as insurance, energy, transportation, retail, manufacturing, and technology. Some of its well-known subsidiaries include GEICO, BNSF Railway, Dairy Queen, Duracell, Fruit of the Loom, and See’s Candies. It also holds significant stakes in other companies, such as Apple, Coca-Cola, Bank of America, and American Express.
What is value investing?
Value investing is an investment philosophy and strategy that involves buying stocks that are undervalued by the market, and holding them for the long term. Value investors look for companies that have strong fundamentals, competitive advantages, and growth potential, but are trading at a discount to their intrinsic value. Value investors also seek a margin of safety, which is the difference between the market price and the intrinsic value of a stock, to protect themselves from potential losses.
What is focus investing?
Focus investing is an investment strategy that involves building a concentrated portfolio of high-quality and undervalued stocks, and holding them for the long term. Focus investors aim to achieve superior returns by investing in a few great companies that they understand well, and that have durable competitive advantages, strong growth prospects, and excellent management. Focus investors also ignore the short-term fluctuations of the stock market, and focus on the long-term performance and value of their investments