💰 Warren Buffett — the “Oracle of Omaha” — is widely regarded as one of the most successful investors in history. Beyond his track record at Berkshire Hathaway, Buffett is a lifelong learner and voracious reader, reportedly spending up to 80% of his day with a book or financial reports in hand. His reading habits shaped his approach to investing, management, and life.
“The more you learn, the more you earn.”
That line captures Buffett’s philosophy: ideas compound just like returns. Below are the 10 books Buffett has recommended most often — books that influenced his thinking, sharpened his judgment, and taught the principles behind long-term value investing.
1. The Intelligent Investor — Benjamin Graham
“By far the best book on investing ever written.”
Buffett read this at 19 and credits it with changing his life. Benjamin Graham’s core idea of value investing — buying securities for less than their intrinsic value and focusing on margin of safety — became the foundation of Buffett’s approach.
Why read it: For anyone serious about investing, this is the foundational textbook on valuation, risk, and discipline.
2. Security Analysis — Benjamin Graham & David Dodd
The technical counterpart to The Intelligent Investor, this book is rigorous and detailed — a roadmap for deep financial analysis. Buffett regards it as essential for investors who want to dig into company fundamentals and valuation.
Why read it: For advanced investors who want a methodical framework for analyzing balance sheets, cash flow, and intrinsic value.
3. Common Stocks and Uncommon Profits — Philip A. Fisher
Buffett credits Fisher with widening his focus beyond numbers to include the importance of management quality and durable competitive advantages. Fisher’s emphasis on qualitative research and the “scuttlebutt” approach helped Buffett appreciate the role of exceptional companies and leadership.
Why read it: To learn how to evaluate management and growth prospects alongside financial metrics.
4. Business Adventures — John Brooks
A collection of business case studies originally published in The New Yorker, Business Adventures offers timeless lessons about corporate behavior, failure, and leadership. Buffett called it “the best business book I’ve ever read.”
Why read it: For memorable case studies and stories that reveal how organizations succeed — or fail — under pressure.
5. The Essays of Warren Buffett: Lessons for Corporate America — Warren Buffett & Lawrence Cunningham
A curated collection of Buffett’s shareholder letters, organized by theme. It’s one of the clearest ways to study Buffett’s applied philosophy on corporate governance, capital allocation, and shareholder value.
Why read it: To hear Buffett in his own voice and walk through practical examples of his decision-making.
6. Poor Charlie’s Almanack — Charles T. Munger
A compilation of Charlie Munger’s speeches and ideas, Poor Charlie’s Almanack is a vault of mental models, rational thinking, and practical wisdom. As Buffett’s longtime partner, Munger’s multidisciplinary thinking heavily influenced Buffett’s frameworks for judgment.
Why read it: To broaden decision-making tools and adopt a latticework of mental models for clearer thinking.
7. The Outsiders — William N. Thorndike
This book profiles eight unconventional CEOs who excelled at capital allocation — a topic Buffett repeatedly praises. The Outsiders is a masterclass in how rational, disciplined leadership can create outsized shareholder value.
Why read it: To study capital allocation, unconventional leadership, and results-driven management.
8. The Warren Buffett Way — Robert G. Hagstrom
A digestible analysis of Buffett’s investment style and principles. Hagstrom distills Buffett’s methods into practical, actionable lessons for investors who want to emulate Buffett’s approach.
Why read it: For a practical guide to the strategies Buffett used to build long-term wealth.
9. The Snowball: Warren Buffett and the Business of Life — Alice Schroeder
The definitive biography, The Snowball offers an in-depth look at Buffett’s life, influences, and the man behind the shareholder letters. Buffett himself endorsed the book for its accuracy and depth.
Why read it: To understand the life, values, and experiences that shaped Buffett’s worldview and career.
10. Stress Test: Reflections on Financial Crises — Timothy F. Geithner
Buffett has recommended this book for managers and leaders who need to understand crisis decision-making. Geithner’s memoir offers a perspective on staying calm and decisive under immense pressure.
Why read it: To study crisis leadership and decision-making under stress — valuable lessons for executives and investors alike.
Final Thoughts
Warren Buffett’s reading list reveals a mind committed to continuous learning, rational thinking, and long-term value creation. These books teach more than investing: patience, humility, discipline, and clear judgment. Whether you’re an aspiring investor, a founder, or a lifelong learner, Buffett’s bookshelf is a masterclass in how to think better and act wiser.
If you want to deepen your learning, start with The Intelligent Investor and follow it with Fisher’s Common Stocks and Uncommon Profits. From there, explore biographies and leadership case studies to round out your understanding.