Unit 1 - How Intelligent Investors manage risk
Unit 2 - How Intelligent Investors pick bonds
Unit 3 - How Intelligent Investors pick stocks
Unit 4 - How Intelligent Investors pick preferred shares
Unit 5 - How Intelligent Investors pick manage cash flow×
Unit 1 - When does Warren Buffett Sell
Unit 2 - Understanding the importance of Return on Equity
Unit 3 - Understanding the importance of Volume
Unit 4 - How to calculate and find financial terms
Unit 5 - How to use stock screeners
Unit 6 - What is Goodwill
Unit 7 - What is Owner's Earnings×
"We still open this book 75 years later to learn and read new things everyday."
"I've had some lucky days in my life, ...but none like the day I picked up the Intelligent Investor ...This book changed my life."
"I highly recommend his books, especially the early ones"
"I recommend Robert Miles's book, The Warren Buffett CEO...You'll like your investment better after reading it."
"A must read for every investor"
"Any investor who owns or is thinking of owning shares in a fund should read this book cover to cover"
"I especially recommend Keynes' essays on persuasion. Reading Keynes will make you smarter about securities and markets. I'm not sure reading most economist would do the same."
"The most representative book on my thinking is what Larry Cunningham put together"
The strategies that Warren Buffett has used when investing in different businesses can be noticed through many books that have influenced him over the years. Here’s a look at some of the many books that have impacted Buffett’s life and his strategies.
These Warren Buffett books cover several points about investing. They involve not only different strategies and theories for investing but also many different stories about investing and how sometimes it might help to work on certain things over all else when trying to get an appropriate investment taken care of.
Ben Graham’s Intelligent Investor is considered by Warren Buffett to be the most important book on investing ever made. Many of the things that Graham wrote about in this book have been used by Buffett.
Part of Graham’s book states that stock prices are reflective of the fundamental value that a company has attached to it. This means that stocks may be better if their prices are lower than what the real value of the company is. There is a potential for the original value to increase over time.
The book also uses the Mr. Market allegory, a point that Buffett has long endorsed. This states how businesses tend to change their stock price quotes each day and that a person should not always buy into the moves that a business uses to try and get money.
Security Analysis, which was written by Ben Graham and David Dodd, is another of the Warren Buffett books for investors to take a look at. This book was written not long after the Depression started.
The book states that an investor should be looking into the many financial statements that a business has posted. This includes taking a look at how different businesses have stocks that might be underpriced in some cases.
The book has been very influential to Warren Buffett. In fact, he even got an A+ grade in a seminar that Graham taught that heavily used Security Analysis.
Philip A. Fisher’s Common Stocks and Uncommon Profits is a book that covers details on how well a business is being run with regards to whether or not it would be safe to invest in a particular business. Fisher states that businesses that are poorly run tend to have the highest risks attached to them. These include businesses that might be hiding information or even businesses that have been spending more money than necessary and as a result are not getting the appropriate cash flows that they should be using in order to be more successful and proficient.
One interesting strategy that Fisher recommends involves looking to see what products different companies make in order to find the best investments. This includes looking into companies that make products that are often used for larger products. One example would involve selling small television bulbs. Companies that are capable of making products that are capable of growing in popularity are considered to be “fortunate because they are able” and therefore are better companies for anyone to invest in.
This has been a good influence on Buffett’s life because it has helped him to figure out who the right businesses to invest in might be. This is to help with figuring out what can be used when trying to earn the most money off of something. In fact, the values preached in this book might have been a substantial influence on what inspired Buffett to buy up Berkshire Hathaway, a company that was originally made to prepare fabrics for fashion designers.
One of the most popular Warren Buffett books is Adam Smith’s 1776 classic the Wealth of Nations. Many of the points that Smith introduced back then are points that Buffett holds very dearly in his investments. These include many considerations on how different assets and investments work and how labor is often used to determine how well different investments might be used in the future and how they are run well enough.
Smith states that the values of assets are higher when their profits are higher. This means that they would have greater cash flow numbers to work with. This is a big part of why Buffett goes after businesses that tend to have strong cash flow levels.
There is also the belief in the Wealth of Nations that states that the prices of products are reflective of how easy it may be to get a better deal on an investment. Businesses that are priced to where more people can afford what they are getting into are often businesses that might have better profit margins. This is a big part of why Buffett has invested in so many different consumer goods companies that sell products at sensible values.
Another of the Warren Buffett books to see is Dale Carnegie’s How to Win Friends and Influence People. Many of the public speaking courses that Buffett had gotten into were arranged by Carnegie. These courses have involved working on how to not only communicate with others but also on how easier it might be to go along with other people to convince them that certain business endeavors and investments might be better to go along with than some others.
The book involves understanding how to treat people properly and to use the right attitudes around them. The book involves teaching people how to be friendly and to appeal to others. There is also the need to be positive while honest when it comes to communicating with people. Any criticisms that are to be used should be delivered in an honest and constructive manner. There’s also the need to be courteous and to avoid nagging anyone when trying to get anyone to improve over time.
Buffett has been a big supporter of this book. Buffett has long felt that criticism is a bad idea in that it will not get anyone anywhere when trying to go places in the world of investing.
The books that Warren Buffett recommends are all quality books that showcase all sorts of things of interest. These eleven books are all valuable and should be seen carefully. They are all books that Buffett has supported in many forms and has stated that they are great influences with regards to what people might be able to get into and how they could take advantage of investments in their own special ways with the right strategies intact.
The Warren Buffett CEO: Secrets of the Berkshire Hathaway Managers is a book by Robert Miles that Buffett recommends because it showcases details on how he and others have worked towards finding the right investments. In fact, the book offers plenty of details on Berkshire Hathaway that haven’t been exposed to the public in the past.
The book involves taking a look at how management procedures are made to run with different actions in mind. These include businesses that use different managerial standpoints that often work alongside an investor’s. The need to find something complimentary when making an investment is always a necessity for all people to work with.
John C. Bogle’s Common Sense on Mutual Funds is a book that involves the prominence of mutual funds and why they are investments that people should strongly consider getting themselves into. However, mutual funds must be handled responsibly.
Bogle states that mutual funds should be reviewed with inherent values in mind over all else. This includes seeing how some funds might have been impacted by the need to market a business instead of trying to focus on long term growth.
Buffett recommends this book because Bogle essentially warns that while mutual funds are very useful, they need to be inspected in terms of what they feature and what the companies in these funds have to work with. This information is all used to make it easier for an investment to be seen the right way and to keep from being too much of a risk of one’s money.
John Bogle on Investing: the First 50 Years is another book from Bogle to see. Bogle states that past performances of all investments should be analyzed carefully. This includes seeing that a stock or fund is reviewed to determine how consistent a stock is and to determine if there is any kind of risk involved.
The size of the asset is also a key point. The assets that are used should be controlled in accordance to what people could get. This is according to what Bogle has to say in the book.
This information is heralded by Buffett for the way how it uses sensible ideas and research to make it easier for anyone to invest in something. This includes figuring out what the potential values of an investment might be.
Bull!: A History of the Boom, 1982-1999 is a book from Maggie Mahar that Buffett recommended in his 2003 annual letter. Mahar writes in this book about the start of the stock market boom in the 1980s and how long term investing was critical to the success of many notable figures at the time. This includes taking a look at how some professionals had been misleading to many investors who are not as skilled. This includes the ways how some people kept on supporting the economic bubble of the time by trying in money to everything of interest.
Buffett recommends this book because it shows how well investments can increase and how the wrong moves can cause them to fail. It is an interesting part of investing for anyone to take a look at.
John Maynard Keynes’ Essays in Persuasion was first written in 1931 and has been published on several occasions over the years. The book features essays about how laissez-faire transactions have begun to decline in value over the years. It also covers details on inflation and deflation.
Buffett has long recommended the book because it entails fundamentals on how to invest properly and how different assets might be influenced with regards to how outside factors work.
In an Uncertain World: Tough Choices from Wall Street to Washington is a book from Robert E. Rubin that Buffett also recommended in his 2003 letter to investors. Rubin, the former Security of the Treasury, writes about his work in the government and his efforts to attempt to control the national economy. This includes particular looks at how financial issues in other countries might influence what happens elsewhere and how investments may change.
Buffett recommends this book for its in-depth look at how new challenges are coming into the global economy. This includes how the economy has been adjusted dramatically to the point where it might be too hard to predict.
It’s clear that Warren Buffett himself would endorse this book, seeing that he wrote many of the essays in this compilation. The book features a series of letters that Buffett has written to many Berkshire Hathaway investors over the years. It is practically seen as a form of education to those who are interested in seeing what Buffett feels about different investments and how they can be used responsibly for the best possible results with regards to getting the most out of any kind of investment.
The Smartest Guys in the Room by Bethany McLean and Peter Elkind is a review of how Enron, a Houston-based energy company, went to the top of the line in the economy and eventually fell down. This covers a look at how Enron was able to make money and how the inside workings of the company ended up leading to the downfall of the company. This includes seeing how corporate irresponsibility could end up being a disastrous concern that might impact what would go on when a business is not run properly.
This is an interesting book that takes a look at how the business world has changed and how corporate cultures can influence what might happen in society. It is widely believed the Buffett endorses this book because it puts a strong emphasis on how understanding what goes on inside a company, even if it is relatively invasive when doing so, could end up being a key to determining whether or not a particular business is one that is worth investing in.
These are all books that Warren Buffett strongly recommends that all people take a look at when it comes to investing. These books are all ones that involve the many keys of investing and have been influential with regards to what Buffett has done with getting the best possible investments set up for all sorts of purposes.