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Warren Buffett's Bookcase

Warren Edward Buffett (/ˈbʌft/; born August 30, 1930) is an American business magnate, investor and philanthropist. He is considered by some to be one of the most successful investors in the world. Buffett is the chairman, CEO and largest shareholder of Berkshire Hathaway, and is consistently ranked among the world's wealthiest people. He was ranked as the world's wealthiest person in 2008 and as the third wealthiest in 2015. In 2012 Time named Buffett one of the world's most influential people.

Photo by: Mark Hirschey

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Straight from the Gut" Jack Welch

They called him Neutron Jack. They called him the world's toughest boss. And then Fortune called him "The Manager of the Century." In his twenty-year career at the helm of General Electric, Jack Welch defied conventional wisdom and turned an aging behemoth of a corporation into a lean, mean engine of growth and corporate innovation. In this remarkable autobiography-a classic business book and runaway New York Times bestseller now updated with a new afterword by the author-Jack Welch takes us on the rough-and-tumble ride that has been his remarkable life. From his working-class childhood to his early days in G.E. Plastics to his life at the top of the world's most successful company, Welch tells his intensely personal story with his well-known fire and candor. And although it chronicles billion-dollar deals and high-stakes corporate standoffs, Jack is ultimately a story about people-from a man who based his career on demanding only the best from others and from himself.

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Winner of the 1998 Pulitzer Prize for Biography

An extraordinarily frank, honest, and generous book by one of America's most famous and admired women, Personal History is, as its title suggests, a book composed of both personal memoir and history.

It is the story of Graham's parents: the multimillionaire father who left private business and government service to buy and restore the down-and-out Washington Post, and the formidable, self-absorbed mother who was more interested in her political and charity work, and her passionate friendships with men like Thomas Mann and Adlai Stevenson, than in her children.

It is the story of how The Washington Post struggled to succeed -- a fascinating and instructive business history as told from the inside (the paper has been run by Graham herself, her father, her husband, and now her son).

It is the story of Phil Graham -- Kay's brilliant, charismatic husband (he clerked for two Supreme Court justices) -- whose plunge into manic-depression, betrayal, and eventual suicide is movingly and charitably recounted.

Best of all, it is the story of Kay Graham herself. She was brought up in a family of great wealth, yet she learned and understood nothing about money. She is half-Jewish, yet -- incredibly -- remained unaware of it for many years.She describes herself as having been naive and awkward, yet intelligent and energetic. She married a man she worshipped, and he fascinated and educated her, and then, in his illness, turned from her and abused her. This destruction of her confidence and happiness is a drama in itself, followed by the even more intense drama of her new life as the head of a great newspaper and a great company, a famous (and even feared) woman in her own right. Hers is a life that came into its own with a vengeance -- a success story on every level.

Graham's book is populated with a cast of fascinating characters, from fifty years of presidents (and their wives), to Steichen, Brancusi, Felix Frankfurter, Warren Buffett (her great advisor and protector), Robert McNamara, George Schultz (her regular tennis partner), and, of course, the great names from the Post: Woodward, Bernstein, and Graham's editorpartner, Ben Bradlee. She writes of them, and of the most dramatic moments of her stewardship of the Post (including the Pentagon Papers, Watergate, and the pressmen's strike), with acuity, humor, and good judgment. Her book is about learning by doing, about growing and growing up, about Washington, and about a woman liberated by both circumstance and her own great strengths.

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Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced almost forty years ago, are not only studied and applied by today's financiers and investors, but are also regarded by many as gospel. This book is invaluable reading and has been since it was first published in 1958. The updated paperback retains the investment wisdom of the original edition and includes the perspectives of the author's son Ken Fisher, an investment guru in his own right in an expanded preface and introduction "I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits...A thorough understanding of the business, obtained by using Phil's techniques...enables one to make intelligent investment commitments." —Warren Buffet

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Made In America

Meet a genuine American folk hero cut from the homespun cloth of America's heartland: Sam Walton, who parlayed a single dime store in a hardscrabble cotton town into Wal-Mart, the largest retailer in the world.  The undisputed merchant king of the late twentieth century, Sam never lost the common touch.  Here, finally, inimitable words.  Genuinely modest, but always sure if his ambitions and achievements.  Sam shares his thinking in a candid, straight-from-the-shoulder style.

In a story rich with anecdotes and the "rules of the road" of both Main Street and Wall Street, Sam Walton chronicles the inspiration, heart, and optimism that propelled him to lasso the American Dream.

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This classic text is annotated to update Graham's timeless wisdom for today's market conditions...

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.

Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles.

Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.

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Robert Noyce and the Invention of Silicon Valley

Hailed as the Thomas Edison and Henry Ford of Silicon Valley, Robert Noyce was a brilliant inventor, a leading entrepreneur, and a daring risk taker who piloted his own jets and skied mountains accessible only by helicopter. Now, in The Man Behind the Microchip, Leslie Berlin captures not only this colorful individual but also the vibrant interplay of technology, business, money, politics, and culture that defines Silicon Valley. Here is the life of a high-tech industry giant. The co-founder of Fairchild Semiconductor and Intel, Noyce co-invented the integrated circuit, the electronic heart of every modern computer, automobile, cellular telephone, advanced weapon, and video game. With access to never-before-seen documents, Berlin paints a fascinating portrait of Noyce: an ambitious and intensely competitive multimillionaire who exuded a "just folks" sort of charm, a Midwestern preacher's son who rejected organized religion but would counsel his employees to "go off and do something wonderful," a man who never looked back and sometimes paid a price for it. In addition, this vivid narrative sheds light on Noyce's friends and associates, including some of the best-known managers, venture capitalists, and creative minds in Silicon Valley. Berlin draws upon interviews with dozens of key players in modern American business--including Andy Grove, Steve Jobs, Gordon Moore, and Warren Buffett; their recollections of Noyce give readers a privileged, first-hand look inside the dynamic world of high-tech entrepreneurship. A modern American success story, The Man Behind the Microchip illuminates the triumphs and setbacks of one of the most important inventors and entrepreneurs of our time.

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“There are a few investment managers, of course, who are very good – though in the short run, it’s difficult to determine whether a great record is due to luck or talent. Most advisors, however, are far better at generating high fees than they are at generating high returns. In truth, their core competence is salesmanship. Rather than listen to their siren songs, investors – large and small – should instead read Jack Bogle’s The Little Book of Common Sense Investing.” – Warren Buffett, Chairman of Berkshire Hathaway, 2014 Annual Shareholder Letter.

Investing is all about common sense. Owning a diversified portfolio of stocks and holding it for the long term is a winner’s game. Trying to beat the stock market is theoretically a zero-sum game (for every winner, there must be a loser), but after the substantial costs of investing are deducted, it becomes a loser’s game. Common sense tells us—and history confirms—that the simplest and most efficient investment strategy is to buy and hold all of the nation’s publicly held businesses at very low cost. The classic index fund that owns this market portfolio is the only investment that guarantees you with your fair share of stock market returns. To learn how to make index investing work for you, there’s no better mentor than legendary mutual fund industry veteran John C. Bogle. Over the course of his long career, Bogle—founder of the Vanguard Group and creator of the world’s first index mutual fund—has relied primarily on index investing to help Vanguard’s clients build substantial wealth. Now, with The Little Book of Common Sense Investing, he wants to help you do the same.

Filled with in-depth insights and practical advice, The Little Book of Common Sense Investing will show you how to incorporate this proven investment strategy into your portfolio. It will also change the very way you think about investing. Successful investing is not easy. (It requires discipline and patience.) But it is simple. For it’s all about common sense.

With The Little Book of Common Sense Investing as your guide, you’ll discover how to make investing a winner’s game:

  • Why business reality—dividend yields and earnings growth—is more important than market expectations
  • How to overcome the powerful impact of investment costs, taxes, and inflation
  • How the magic of compounding returns is overwhelmed by the tyranny of compounding costs
  • What expert investors and brilliant academics—from Warren Buffett and Benjamin Graham to Paul Samuelson and Burton Malkiel—have to say about index investing
  • And much more
You’ll also find warnings about investment fads and fashions, including the recent stampede into exchange traded funds and the rise of indexing gimmickry. The real formula for investment success is to own the entire market, while significantly minimizing the costs of financial intermediation. That’s what index investing is all about. And that’s what this book is all about.

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"A road map for investing that I have now been following for 57 years." --From the Foreword by Warren E. Buffett First published in 1934, Security Analysis is one of the most influential financial books ever written. Selling more than one million copies through five editions, it has provided generations of investors with the timeless value investing philosophy and techniques of Benjamin Graham and David L. Dodd.

As relevant today as when they first appeared nearly 75 years ago, the teachings of Benjamin Graham, “the father of value investing,” have withstood the test of time across a wide diversity of market conditions, countries, and asset classes.

This new sixth edition, based on the classic 1940 version, is enhanced with 200 additional pages of commentary from some of today’s leading Wall Street money managers. These masters of value investing explain why the principles and techniques of Graham and Dodd are still highly relevant even in today’s vastly different markets. The contributor list includes:

  • Seth A. Klarman, president of The Baupost Group, L.L.C. and author of Margin of Safety
  • James Grant, founder of Grant's Interest Rate Observer, general partner of Nippon Partners
  • Jeffrey M. Laderman, twenty-five year veteran of BusinessWeek
  • Roger Lowenstein, author of Buffett: The Making of an American Capitalist and When America Aged and Outside Director, Sequoia Fund
  • Howard S. Marks, CFA, Chairman and Co-Founder, Oaktree Capital Management L.P.
  • J. Ezra Merkin, Managing Partner, Gabriel Capital Group .
  • Bruce Berkowitz, Founder, Fairholme Capital Management.
  • Glenn H. Greenberg, Co-Founder and Managing Director, Chieftain Capital Management
  • Bruce Greenwald, Robert Heilbrunn Professor of Finance and Asset Management, Columbia Business School
  • David Abrams, Managing Member, Abrams Capital
Featuring a foreword by Warren E. Buffett (in which he reveals that he has read the 1940 masterwork “at least four times”), this new edition of Security Analysis will reacquaint you with the foundations of value investing―more relevant than ever in the tumultuous 21st century markets.

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Twelve Classic Tales from the World of Wall Street

Business Adventures remains the best business book I’ve ever read.” —Bill Gates, The Wall Street Journal

What do the $350 million Ford Motor Company disaster known as the Edsel, the fast and incredible rise of Xerox, and the unbelievable scandals at General Electric and Texas Gulf Sulphur have in common? Each is an example of how an iconic company was defined by a particular moment of fame or notoriety; these notable and fascinating accounts are as relevant today to understanding the intricacies of corporate life as they were when the events happened.

Stories about Wall Street are infused with drama and adventure and reveal the machinations and volatile nature of the world of finance. Longtime New Yorker contributor John Brooks’s insightful reportage is so full of personality and critical detail that whether he is looking at the astounding market crash of 1962, the collapse of a well-known brokerage firm, or the bold attempt by American bankers to save the British pound, one gets the sense that history repeats itself.

Five additional stories on equally fascinating subjects round out this wonderful collection that will both entertain and inform readers . . . Business Adventures is truly financial journalism at its liveliest and best.

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The Psychology of Persuasion

Influence, the classic book on persuasion, explains the psychology of why people say "yes"—and how to apply these understandings. Dr. Robert Cialdini is the seminal expert in the rapidly expanding field of influence and persuasion. His thirty-five years of rigorous, evidence-based research along with a three-year program of study on what moves people to change behavior has resulted in this highly acclaimed book.

You'll learn the six universal principles, how to use them to become a skilled persuader—and how to defend yourself against them. Perfect for people in all walks of life, the principles of Influence will move you toward profound personal change and act as a driving force for your success.

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Don Keough—a former top executive at Coca-Cola and now chairman of the elite investment banking firm Allen & Company—has witnessed plenty of failures in his sixty-year career (including New Coke). He has also been friends with some of the most successful people in business history, including Warren Buffett, Bill Gates, Jack Welch, Rupert Murdoch, and Peter Drucker.Now this elder statesman reveals how great enterprises get into trouble. Even the smartest executives can fall into the trap of believing in their own infallibility. When that happens, more bad decisions are sure to follow.

This light-hearted “how-not-to” book includes anecdotes from Keough's long career as well as other infamous failures. His commandments for failure include: Quit Taking Risks; Be Inflexible; Assume Infallibility; Put All Your Faith in Experts; Send Mixed Messages; and Be Afraid of the Future.

As he writes, “After a lifetime in business I've never been able to develop a step-by-step formula that will guarantee success. What I could do, however, was talk about how to lose. I guarantee that anyone who follows my formula will be a highly successful loser.”

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How the Democratic and Republican Parties Are Bankrupting Our Future and What Americans Can Do About It

The national bestseller, described by Tom Brokaw as the "wake-up call we cannot ignore," with a new preface by the author

Acclaimed by all sides of the political spectrum, Peter Peterson's Running on Empty not only traces the deterioration of America's finances but offers solutions. This national bestseller is required reading for everyone concerned with America's long-term economic survival. In clear and concise prose, Peterson offers America not only a vision but the practical steps by which to ensure our children's economic future. Running on Empty is not only a warning, it is also a manifesto calling for the next administration to finally confront a deep and disturbing problem that politicians of all parties have insisted on ignoring for too long.

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