Years ago, a college student asked Warren Buffett how to prepare for a career on Wall Street. The legendary investor reportedly held up a stack of publications and reports and said, “Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest.” Yes, that’s right—500 pages a day.
Buffett, the chairman of the investment holding company Berkshire Hathaway, considers reading to be a core part of his job, according to Lawrence A. Cunningham, JD, a professor at The George Washington University and editor of The Essays of Warren Buffett: Lessons for Corporate America. “Reading is how he knows as much as or more than those he’s speaking with.”
Buffett does not have a book club like Oprah, but Cunningham notes that there are ways to determine some of the books he likes—for one, Buffett personally approves every title sold at the bookstore kiosk at Berkshire Hathaway’s annual shareholder meeting. Here are five general interest books and two about Buffett himself…
• No Two Alike: Human Nature and Human Individuality by Judith Rich Harris
• Influence: The Psychology of Persuasion by Robert B. Cialdini, PhD
• Outliers: The Story of Success by Malcolm Gladwell
• The Intelligent Investor by Benjamin Graham
• Where Are the Customers’ Yachts? Or a Good Hard Look at Wall Street by Fred Schwed, Jr.
• Warren Buffett’s Ground Rules by Jeremy C. Miller
• The Warren Buffett Way by Robert G. Hagstrom.