Warren Buffett’s Books of Success

It’s commonly known that Warren Buffett became one of the worlds best investors due to his voracious reading.

He reads 600, 750, or 1,000 pages a day –  even today at age 89, he spends 80% of his working day pouring through books.

Interview source

He has actually said in a personalized notebook – “I just sit in my office and read all day.”

The Big Buffett story

Born on August 30, 1930, Warren Edward Buffett is an American business magnate, investor, speaker and philanthropist, who is also the chairman and CEO of Berkshire Hathaway.

One of the most successful investors in the world, having a net worth over US$85 billion, making him the world’s third wealthiest person.

The notable philanthropist pledged to donate 99% of his fortune, primarily through the Bill & Melinda Gates Foundation.

He founded The Giving Pledge in 2009 with Bill Gates, through which billionaires take an oath to give away at least half of their fortunes.

The famous reading routine

Every morning, Warren Buffett begins reading newspapers, magazines and newsletters, according to his biographer Alice Schroeder.

He then shifts to daily and monthly reports from the companies he owns and annual reports from companies that are not his, to just learn and improve.

He blocks out hours in his day to read, think and digest the information. He admits that it improves his self-reflection and knowledge through time, along with his investments.

The magic of the book

Warren Buffett once pointed out the secret of his own success, detailing that to be a good investor you do not need to have “a stratospheric IQ, unusual business insights, or inside information.

It would suffice if you just have a strong intellectual framework to make you move towards decisions and build up the skills that can prevent emotions from ruining them.

He also demonstrated the key to his success by pointing to a stack of nearby books and said, “Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.”

Early years

Warren Buffett’s reading shaped his self-refection and development. But many of his books were related mainly to building business and mapping success.

A list of the books he recommends include ‘The Intelligent Investor’, by Benjamin Graham, which he started at 19 years, getting a map to chart his journey through life.

After that, there was no looking back. Warren Buffet’s movement was towards his mission.

Reading through life

Warren Buffet knows that reading is the foundation and the building block to his career. “We don’t read other people’s opinions. We want to get the facts, and then think.” he once said.

“Everybody should do this, be the client, and then work for other people, too, and sell yourself an hour a day,” he says to The Snowball for an interview about his authorized biography.

Recommended reads

Warren Buffet is like a mentor to those who are searching for self-reflection and development tools.

Recommending a biography of Jack Welch, he mentions: “Welch has had such an impact on modern business that a tour of his personal history offers all managers valuable lessons.”

Apart from his eternal favourite by Benjamin Graham, he also mentions his partner Charles T. Munger’s ‘Poor Charlie’s Almanack’, in which he comments that the author actually seems to be a reincarnation of Ben Franklin!

Challenging his challenges

As expected, Warren Buffet has also make a number of mistakes, which he outlined in 15 investing mistakes in buying the wrong companies, such as Waumbec Textile Mills. However, he has the humility to admit his errors.

When he bought TESCO, he said: “I made a big mistake with this investment by dawdling.” He also offered some solutions. Self-reflection helped him to overcome his flaws. He put it simply as: “When you find bad news, I say get it right, get it fast, get it out, get it over.”

The coming years

Believing in always thinking and looking ahead, not back, he reflects that “the rearview mirror is always clearer than the windshield.”

However, it is important to build up and project it into a success story through self-reflection.

Building your habits

Looking for an easy way to get started with your self-development practice?

Daylitude can help shift your mindset, increase positivity, and discover a greater connection with yourself.

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