10 books that Buffett thinks everyone should read

Buffett once said he spends 80% of his time reading every day.

In order to promote reading, a special program is set up at the annual shareholders' meeting to sell some discounted books or CDs at the stalls of the big bazaar, in fact, to recommend some good works.

Here are some of the books Buffett has recommended. If we are not destined to be as rich as Buffett, then at least we can be more diligent than him.

1. Smart Investor, by Benjamin Graham

“The Intelligent Investor”，Benjamin Graham

"I read this book when it was first published in 1950, when I was only 19 years old. At that time, I thought it was the greatest investment book of all time. I still think so. "

Buffett said the book, written by Graham, the father of value investment, taught him that "you don't need high IQ, extraordinary business insight and inside information to be a successful investor in a lifetime." All you need is a reliable knowledge framework for decision-making and the ability to avoid emotions influencing decisions. "

2. Securities Analysis, by Benjamin Graham

“Security Analysis”，Benjamin Graham

Graham's classic is a must-read for professional investors. The main point of this book is that if your analysis is thorough enough, you can estimate the value of a company. Buffett called the book like an investment roadmap, which he has followed for 57 years.

3. How to choose growth stocks, by Philip Fisher

“Common Stocks and Uncommon Profits”，Philip A.Fisher

When I met him, he impressed me as deeply as his thoughts. A thorough understanding of the company with Fischer's skills can make a person invest wisely. " In the book, Fisher stresses that keeping a close eye on financial statements is not enough, you also need to evaluate the management of a company. Buffett calls himself "an avid reader of Phil, no matter what he has to say."

4. Stress testing, by Timothy Geithner

“Stress Test”，Timothy F. Geithner

Former U.S. Treasury Secretary Timothy Geithner described how he led a government department during the financial crisis. Buffett has said that this book is a must-read for every manager.

5. Buffett's letter to shareholders, by Warren Buffett

“The Essays of Warren Buffett”，Warren Buffett

This book collates the best passages of Buffett's letters to shareholders for more than 20 years, each of which sets out part of his career and investment philosophy. Buffett said: "in a quiz, what could be better for you than your opponent thinking and wasting your energy?"

6. The autobiography of Jack Welch, by Jack Welch

“Jack：Straight From the Gut”

Welch is the Tiger Woods in management, and all CEO want to emulate him. Although they can't catch up with him, they can get closer to him if they listen carefully to what he says.

In his autobiography, Welch details how he grew from a working-class child to General Electric Co CEO. Buffett called Welch "smart, energetic and hands-on."

7. The outsider, by William Thorndike

“The Outsiders”，William N. Thorndike

Thorndike's book tells the success models of top executives at companies such as the Washington Post and Prenner. Buffett described the book as "an outstanding book about CEO people who are good at capital allocation".

8. Cultural clash: investment and speculation, by John Berg

“The Clash of the Cultures: Investment vs. Speculation”，John Bogle

The founder of Vanguard believes that long-term investments are being squeezed out by short-term speculation. Buffett recommended the book in a 2012 letter to shareholders.

9. Business Adventure, by John Brooks

“Business Adventures”，John Brooks

Shortly after he first met in 1991, Bill Gates asked Buffett which book he liked best about business, and Buffett gave him his Business Adventure.

10. "where is the customer's yacht?" by Schweder

“Where Are the Customer's Yachts?”，Fred Schweb

Buffett said: "this book, first published in 1940, is the best book ever published on the theme of investment, and it wisely illustrates a lot of insights about the theme of investment."