Top Books Recommended by Warren Buffett 2021

Speaking of Warren Buffet, everyone knows who he is and his wisdom has left the world with countless documents and helpful advice.

One of our most significant ways of learning is to learn from people who have successfully imitated their ideas and working principles, and then we apply them to our work to gain back encouraging results.

Good books from Warren Buffett or his advice always leave a lot of value throughout and the business dynamics of each person, each individual, each business.

Top Books Recommended by Warren Buffett
Top Books Recommended by Warren Buffett

This article will learn about the books he shared and rated well on social networking platforms; maybe you will find a helpful book to know many great things and apply them to work and life.

Warren Buffett

Warren Edward Buffett ( born August 30, 1930) is an American business magnate, investor, and philanthropist.

He is currently the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors globally and has a net worth of over $100.9 billion as of September 2021, making him the world’s tenth-wealthiest person.

Buffett was born in Omaha, Nebraska. He developed an interest in business and investing in his youth, eventually entering the Wharton School of the University of Pennsylvania in 1947 before transferring to and graduating from the University of Nebraska at 19.

He graduated from Columbia Business School, where he molded his investment philosophy around the concept of value investing pioneered by Benjamin Graham. He attended the New York Institute of Finance to focus his economics background and began various business partnerships soon after, including one with Graham.

He created Buffett Partnership, Ltd in 1956, and his firm eventually acquired a textile manufacturing firm called Berkshire Hathaway, assuming its name to create a diversified holding company. In 1978, Charlie Munger joined Buffett as vice-chairman.

Buffett has been the chairman and largest shareholder of Berkshire Hathaway since 1970. Global media has referred to him as the “Oracle” or “Sage” of Omaha. He is noted for his adherence to value investing and his frugality despite his immense wealth.

Research published at the University of Oxford characterizes Buffett’s investment methodology as falling within “founder centrism,” defined by a deference to managers with a founder’s mindset, an ethical disposition towards the shareholder collective, and an intense focus on exponential value creation. Essentially, Buffett’s concentrated investments shelter managers from the short-term pressures of the market. (via wiki)

 

Warren Buffett did not create this list directly, it was created by our team based on reviews recommended to read and shared on Warren Buffett’s social media platforms.

How to Win Friends & Influence People

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Showing Up for Life: Thoughts on the Gifts of a Lifetime

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First A Dream

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The Farmer from Merna: A Biography of George J. Mecherle and a History of the State Farm Insurance Companies of Bloomington, Illinois

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40 Chances: Finding Hope in a Hungry World

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  • Simon Schuster

The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor (Columbia Business School Publishing)

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Stress Test: Reflections on Financial Crises

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  • Cornerstone

The Man Behind the Microchip: Robert Noyce and the Invention of Silicon Valley

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Release Date2005-06-10T00:00:00.000Z
Edition1
LanguageEnglish
Number Of Pages441
Publication Date2005-06-10T00:00:00.000Z
FormatKindle eBook

Limping on Water: My 40-year adventure with one of America's outstanding communications companies.

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Release Date2015-12-10T21:07:28.000Z
LanguageEnglish
Number Of Pages257
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The Ten Commandments for Business Failure

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How to Win Friends & Influence People

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Showing Up for Life: Thoughts on the Gifts of a Lifetime

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First A Dream

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The Farmer from Merna: A Biography of George J. Mecherle and a History of the State Farm Insurance Companies of Bloomington, Illinois

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40 Chances: Finding Hope in a Hungry World

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The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor (Columbia Business School Publishing)

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  • Columbia University Press

Stress Test: Reflections on Financial Crises

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  • Cornerstone

The Man Behind the Microchip: Robert Noyce and the Invention of Silicon Valley

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Release Date2005-06-10T00:00:00.000Z
Edition1
LanguageEnglish
Number Of Pages441
Publication Date2005-06-10T00:00:00.000Z
FormatKindle eBook

Limping on Water: My 40-year adventure with one of America's outstanding communications companies.

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Release Date2015-12-10T21:07:28.000Z
LanguageEnglish
Number Of Pages257
Publication Date2015-12-10T21:07:28.000Z
FormatKindle eBook

The Ten Commandments for Business Failure

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A Few Lessons for Investors and Managers From Warren Buffett

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Part Number1578647452
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Number Of Pages81
Publication Date2012T

A Short History of Nearly Everything

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  • Broadway Books

Common Stocks and Uncommon Profits and Other Writings

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  • John Wiley & Sons

The Intelligent Investor, Rev. Ed

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Release Date2009-03-17T00:00:00.000Z
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Number Of Pages640
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Warren Buffett's Ground Rules: Words of Wisdom from the Partnership Letters of the World's Greatest Investor

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Essays in Persuasion

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Security Analysis: Sixth Edition, Foreword by Warren Buffett (Security Analysis Prior Editions)

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The General Theory of Employment, Interest, and Money

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Number Of Pages284
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Common Sense on Mutual Funds

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Release Date2010-01-05T00:00:00.000Z
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Number Of Pages841
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Nuclear Terrorism: The Ultimate Preventable Catastrophe

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Supermoney (Wiley Investment Classics Book 38)

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Release Date2007-08-10T00:00:00.000Z
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LanguageEnglish
Number Of Pages338
Publication Date2007-08-10T00:00:00.000Z
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The Science of Hitting

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One Thousand Ways to Make $1000

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Part Numberblack & white illustrations
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Publication Date2015-10-21T00:00:01Z

The Moment of Lift: How Empowering Women Changes the World

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Release Date2019-04-23T00:00:01Z
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Publication Date2019-04-23T00:00:01Z
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The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success

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  • Harvard Business School Press

The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books, Big Profits)

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Bull!: A History of the Boom and Bust, 1982-2004

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Release Date2009-10-13T00:00:00.000Z
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Where Are the Customers' Yachts?: or A Good Hard Look at Wall Street

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Investing Between the Lines: How to Make Smarter Decisions By Decoding CEO Communications

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Release Date2012-11-16T00:00:00.000Z
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Number Of Pages305
Publication Date2012-11-16T00:00:00.000Z
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Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition

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Number Of Pages548
Publication Date2005T

Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron

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In an Uncertain World: Tough Choices from Wall Street to Washington

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Release Date2003-11-18T00:00:00.000Z
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Number Of Pages448
Publication Date2003-11-18T00:00:00.000Z
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The Clash of the Cultures: Investment vs. Speculation

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The Making of the President 1960 (Harper Perennial Political Classics)

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Personal History

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Release Date2011-02-09T00:00:00.000Z
LanguageEnglish
Number Of Pages913
Publication Date2011-02-09T00:00:00.000Z
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Keeping At It: The Quest for Sound Money and Good Government

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Part Number53166216
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Number Of Pages304
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The Most Important Thing: Uncommon Sense for the Thoughtful Investor (Columbia Business School Publishing)

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Shoe Dog: A Memoir by the Creator of Nike

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Release Date2016-04-26T00:00:00.000Z
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Number Of Pages399
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Business Adventures: Twelve Classic Tales from the World of Wall Street

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Release Date2014-07-08T00:00:00.000Z
LanguageEnglish
Number Of Pages468
Publication Date2014-07-08T00:00:00.000Z
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The Great Crash 1929

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Release Date2009-09-10T00:00:00.000Z
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The Great Crash 1929

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Paths to Wealth Through Common Stocks

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Jack: Straight from the Gut

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Release Date2003-10-01T00:00:00.000Z
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Take on the Street: How to Fight for Your Financial Future

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Berkshire Hathaway Letters to Shareholders

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The Essays of Warren Buffett: Lessons for Corporate America

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Tip number 1.

“Rule 1: Never lose money.

Rule 2: Never ignore Rule 1.

The greatest secret to getting rich is to use the money to generate money with as much initial capital as possible.

Let’s take an illustrative example: $100,000 with 15% compound interest over 20 years will reach $1,636,653 in year 20, which means your profit is $1.536,653.

But let’s say you lost $90,000 of your initial investment before starting the business and only had $10,000 left to invest. Your investment result then only reaches $163,665 in the 20th year, equivalent to a profit of $153,665 only.

A minimal number compared to the number above. The more significant the initial loss, the more your profitability will be affected in the future.

Warren never forgot this rule. That’s why he continued to drive the old VW Beetle even after he became a millionaire.

Tip number 2.

“I invested for the first time when I was 11 years old.

So I wasted many years of my life.”

In life, if you find your passion from a young age, you are lucky, especially in the field of investment, when it offers the opportunity to accumulate capital to start a business. One does not gamble when one is young and has plenty of time to benefit from wise decisions.

The stocks Warren bought at age 11 were in an oil and gas company called City Services. He purchased their shares for $38 but watched them drop to just $27. He waited nervously, and when they rallied again, sold them for $40.

Not long after, the stock skyrocketed to $200, and he learned his first investment lesson — patience. Those who wait will get good things — provided you pick the right supplies to hold.

Tip number 3.

“Do not hesitate to ask for a very high price when you sell or a meager price when you buy.”

Warren understands that people are often afraid of losing face when they bid too high or bid too low. No one wants to be seen as greedy or cheap.

In the business world, what you get when you sell or what you pay when you buy is a measure of whether you are making or losing money and how rich you will be later this. After you start negotiating, you can either lower the selling price or increase the purchase price, but wanting to do the opposite is unthinkable.

Warren abandoned many deals when they didn’t meet his price standards. An example that can be considered the most famous is when he joined Capital Cities in acquiring the ABC media channel.

Warren demanded a significant stake for the payout, but Capital Cities disagreed, dropping the deal. The next day Capital Cities conceded and agreed to sign at Warren’s request. Just ask, maybe you will get what you want, but if you don’t ask, you won’t get what you want.

Tip number 4.

“You can’t do good business with a mean person.”

Bad people are bad people, and bad people will never get you a good deal. There are enough good and honest people in this world for you to do business with, so it would not be brilliant to get involved with scammers.

If you had to ask yourself the question, “Do I trust this person?” then you should immediately leave the negotiating table and find more honest people to do business with.

You don’t want to worry about the parachute going off when you’re about to jump out of the plane, and similarly, you don’t want to question the integrity of the person you’re about to do business with. If you can’t trust them now, you won’t be able to trust them later, so why should you trust them?

Honesty is a priceless gift, and you should never expect it to come from cheap people.

Warren learned this lesson while on the board at Salomon Brothers.

Despite Warren’s advice, Salomon investors continued to deal with media magnate Robert Maxwell, a man nicknamed Bouncing Czech, because of his precarious financial situation sick. After Maxwell’s sudden death, Salomon finds himself in the middle of a massive scandal and must find a way to recover his capital.

The rule is simple: Those with integrity will do their duty; Those who lack integrity will not perform their duties. It is best not to confuse these two groups of people.

Tip number 5.

“The wealth of the great individuals in this country was not founded on a portfolio of fifty companies. Their fortune was built by someone who knew what a great company was.”

If you take a survey of the super-wealthy families in America, you’ll find that almost all of the wealth, without exception, is built on an exceptional company.

The Hearst family makes money in the publishing industry. The Walton family is based on retail, the Wrigley family is chewing gum, the Mars family is the candy industry, the Gates family is software, and the Coors or Busch family is the beer industry.

The list goes on and on, and it is hardly an exception that every time they deviate from the excellent business that made them monstrously rich, they end up losing vast sums of money – just like when Coca-Cola -Cola is involved in the film business.

The key to Warren’s success is that he knows precisely what the financial characteristics of a great company are – a company with a solid business edge that has captured a firm place in the mind of consumers.

When you think of gum, you think of Wrigley, when you think of a cheap store, you think of Wal-Mart, and when you think of a cold beer, you think of Coors or Budweiser.

This unique position helps them build economic power. Warren understands that sometimes the short-term nature of the stock market undervalues ​​these great companies, and at times he will rise above the chaos and buy as many shares as he can.

Warren’s Berkshire Hathaway is a collection of some of the most notable companies in America, and all of them are super-profitable companies that Warren bought when Wall Street turned against them.

Tip number 6.

“A signed contract cannot be canceled, so think carefully before signing.”

Warren learned that once you’ve signed the deal, the deal is closed. You can’t go back and think if this is a good deal or a bad one.

So remember to think carefully before you sign. This sentence is more straightforward said than done, because often when the papers are placed in front of you, you forget to let your mind analyze it and only focus on signing it.

Before signing a contract, think about all the worst-case scenarios – because they happen all the time. Whether the road ahead is smooth or not depends on the ability to foresee troubles ahead.

Think long and hard before you sign, so you won’t have to think long and hard about the troubles you’ve brought into your body with your signature.

Think carefully before you sign.

When signing the contract, Warren once forgot to include a direct anti-competitive clause to buy the Nebraska Furniture Mart (NFM) supermarket located in Omaha by Rose Blumkin (Mrs. B), aged 89. A few years later, Mrs. B was unhappy with the management at the store, so she quit her job and opened a store right across the street — taking countless customers from NFM.

After several years of struggling due to increasingly fierce competition, Warren gave in and agreed to buy the new store for an outrageous price of $5 million.

This second time he forced her to sign a non-compete agreement. Fortunately, he remembers this because Mrs. B is still alive and continues to work until 103!

Tip number 7.

“It’s easier to avoid trouble than to get out of trouble.”

It’s much easier to stay away from the temptation to break the law to make money than to deal with the consequences of being caught. To avoid trouble, you have to do the right thing every time. To get out of trouble, you need to spend a lot of money and mobilize the talents of many lawyers, and even after it costs, you can still go to jail.

This lesson emerged when Warren almost lost his entire $700 million investment in the Wall Street company Salomon Brothers. The Federal Reserve Bank almost completely shut down the company due to its illegal bond trading practices – driven by a teller who wanted to make a quick buck.

How much does it cost to get out of this problem? It’s the chair of some of the company’s top traders, the chairman of the board of directors, the CEO, and millions of dollars in expenses, court fees, and business losses. It would have been more accessible and more profitable if there had been no trouble in the first place.

Tip number 8.

“Wall Street is the only place where Rolls-Royce drivers come to consult subway riders.”

Warren always thought it was strange that highly successful and intelligent entrepreneurs, who had a long history of making large sums of money, would listen to investment advice from brokers who were too poor to afford it follow their advice.

And if their advice is so good and so faithful, why aren’t they rich yet? Maybe because they get rich not by these tips but by eating your commissions?

We should be careful with people who have to use your money to enrich you, mainly when the more they sell to you, the more money they make for themselves.

Most of their thinking is how to use your money to enrich them. And suppose they lose your money? Then they leave you and find someone else to sell those tips.

Warren knows so well about Wall Street’s false loyalty that he refuses to even look at the business scenarios that analysts offer because, in any business, the numbers predict it—never been too pink together.

Tip number 9.

“Money does not bring happiness.”

Warren never confuses happiness with wealth. We’re talking about a guy who still hangs out with the people he knew in high school, still living in the same block from childhood to adulthood. Money doesn’t change people.

When college students asked him about his definition of success, he said success is receiving love from the people you expect. You may be the wealthiest person in the world, but you are still the poorest without the love of family and friends.

Tip number 10.

“Building a reputation takes 20 years but destroying it takes only 5 minutes. If you remember this, you will act differently.”

Just one act of stupidity and bad publicity is enough to destroy the reputation you’ve spent your life building instantly.

It’s best not to do it if you know it’s wrong, because if caught, the price to pay may be too high for you. These are the words Buffett has whispered to his children since they were in diapers.

As the accounting case was uncovered and the insurance giant AIG collapsed, Buffett told his executives: “The current investigation in the insurance industry underscores the message that I often remind you in my twice-yearly open letter: Berkshire can afford to lose money, even a lot of money; but we can’t afford to lose our reputation, even a tiny piece of it…in the long run we’ll build a reputation that’s worth our hard work.

Just focus on the middle of the field; the land is large enough for you to make money, there is no need to play in the fuzzy boundary area.”

Warren Buffett: 11 Books That Made Me MILLIONS (Must READ)

Hope this article helps you choose the book you want to learn wisdom from Warren in all areas of life, not just in investing or business. Please share the article with people to help them.