“Read 500 pages like this every day. That’s how knowledge builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it” – Warren Buffett
- The Wealthy Barber Returns – David Chilton: This a great introduction to personal finance that covers all the bases. David’s writing style and wit help make the material relatable. This is a definite must-read for anyone looking to gain a better understanding of their finances, whether you’re an expert or just starting out.
- Warren Buffett’s Ground Rules – Jeremy C. Miller: This book is an excellent synthesis of lessons from Warren Buffett’s letters to partners during the period when he managed Buffett Partnership Ltd. During this time Buffett was investing modest sums in the market compared to the valuation of Berkshire Hathaway. Thus, the lessons from this book are highly applicable to any individual investor.
- The Intelligent Investor – Benjamin Graham: This is by far my favourite book on investing. I don’t recommend doing any type of investing until reading this collection of lessons. Benjamin Graham was Warren Buffett’s professor at the Columbia Business School, as well as a money manager himself. You need to have a core investment philosophy if you want to be successful over a long period of time when situations change. After going through the Great Depression, Benjamin Graham put together an investment mindset that would hold up under any market conditions. Graham’s work in The Intelligent Investor laid the foundation for the investment philosophy of every value-oriented investor after him. Despite being originally published in 1949, the lessons from this book are arguably more applicable today than ever before.