“7 Books Recommended By Warren Buffett That Beginners Should Read Before Starting Forex!”
When you start Forex from now on, you may think “Is there a good book that you can study by yourself?” In order to acquire knowledge.
Even if you decide to buy a Forex book at a bookstore, you may not know which of the many Forex-related books suits you best.
Even if you actually buy a book, you may have experienced that it wasted time and money because it contained only information that could not be used practically.
If you take the time to read a book, you want to study with a book that suits your level and way of thinking.
In this article, we’ll introduce you to seven investment books recommended by Warren Buffett.
In addition to the contents and features of the book, we will also explain Warren Buffett’s comments.
Find one that you think you really learned.
Warren Buffett’s Recommended Book # 1: 20 Most Important Teachings in Investing Hidden Commons to Become a Wise Investor
Howard Marks (Author)
Yoshiko Nukii (Translation)
Contents
- How can we limit investment risk? ● What
is the reason for taking a different view from the consensus? ● How
to minimize losses when the market environment is not good
● What is the contrarian way of thinking to find the best investment opportunities?
● How to find an inefficient market that is prone to mispricing ● How
to achieve a “successful investment” that exceeds market returns
Review
This book is a collection of letters addressed to clients by the founders of one of the world’s largest asset management companies.
It is very suggestive and describes how to think in order to avoid being hit by the market.
Since it is only about thinking methods, it does not describe specific investment methods, but it is said that the basics are value investing, and what is required as investment knowledge is psychology, not accounting or economics.
However, if I practiced everything written in this book, I wouldn’t lose much, but I feel that it would be difficult to win. This book is recommended for those who want to make stable profits.
Features
This book does not explain investment know-how. It mainly emphasizes the risk and difficulty of investment.
However, the investment philosophy of the author, who has been profitable for a long time in the investment world, is persuasive and a must-see for beginners to advanced players alike.
The author’s view, which is different from the way of thinking stated in general books, will be important for those who continue to invest in the future.
Warren Buffett’s comment,
“A very rare and profitable book,” has been highly acclaimed.
Warren Buffett’s Recommended Book # 2: Where are Investor Yachts? ── Wisdom to avoid being fooled by professionals Fred Sched Jr. (Author)
Contents
- Effectiveness of market price forecast ●
The difficulty of “earning” money
● Price vs. value ――We are a special market letter
● Cash as a long-term investment target
● People’s way of life and the basis book
Features
An old story.
A group of climbers was allowed to tour the financial district of New York.
When the party came to Battery Park, near Wall Street, one of the guides pointed to some of the great yachts at berth.
“Look, all the yachts lined up there belong to bankers and brokers,”
said a dumb redneck.
“Where is your yacht?”
This joke is a good symbol of certain costs, while the returns are uncertain in the investment world.
And the essence of the financial industry, as revealed by author Schue in this book, remains the same now and in the past.
It’s ironic, but in this book, I’m writing about brokers and speculators.
However, it is quite interesting as reading material, and it is a perfect book for investors who are always aware of the relationship between value and price.
Review
A book about the New York financial industry in the 1920s and 1930s. A book that feels like the world of investment and finance hasn’t changed so much that it’s hard to believe it was written in 1940.
It discusses the essence of the financial industry, investment, speculation, etc. from various angles, and depicts the current situation where one of the intermediaries is definitely making money, exactly like “Where is the investor’s yacht?”
The title of the book is a famous story on Wall Street. I occasionally come across this anecdote while reading a translated book about Wall Street, but the book in which the anecdote was published has long been untranslated.
If you read it, you can’t understand why. Perhaps those who read this kind of book for the first time do not understand the depth of irony, and those who understand irony feel that the content is too shallow.
Recommended because it’s a good book to reaffirm that Wall Street hasn’t made any progress for more than half a century.
Warren Buffett’s Comments
“It’s the funniest content of any investment book I’ve ever written. It gives a light touch on many important messages about the subject,” he said as a must-read.
Warren Buffett’s Recommended Book # 3: Wise Investors-How to Find Bargain Stocks and Successful Value Investment Benjamin Graham (Author)
Contents
- Investment and speculation-What wise investors get
● Investors and inflation
● General portfolio strategy-Conservative investors
● Aggressive investor diversification-Negative policy
● Aggressive investment Home Investment-A Positive Policy
Review
It is difficult to understand the content without the foundation of financial knowledge.
Since it is a Japanese translation of the 4th edition published in 1972, the events written are of course before that. Since I have not experienced it in real-time, I do not feel it and it is difficult to understand.
However, I hadn’t thought about stock prices in the latter half of the 1800s until I read this book, so it was good to know more about that and the Great Depression of 1929.
There are many unfamiliar parts of Japan where securities companies make money from trading fees, but if you want to invest instead of speculation, this book should be read.
It has penetrated a lot, but I can reconsider the importance of the portfolio. There are many hints on which stock to choose from diversified investment, but there is no idea in Japan to keep the stock of the company you like, so even if you understand that, it is difficult to find a solution in Japan. feel.
Features
A book was written by Benjamin Graham, whom Warren Buffett referred to as his master.
It is written with value investment in mind and is recommended for everyone from beginners to advanced players.
We disclose how to allocate stocks and bonds, and how to find promising second-class corporate stocks and bargain stocks.
It is no exaggeration to say that it is an “investor’s textbook.”
Warren Buffett’s Comments
“This book provides the right framework. For a successful investment, you don’t need a prominent IQ, extraordinary insights, or inside information. What you need is an intellectual framework for sound decision-making. , The ability to keep emotions out of it. ”
Commented.
Books Recommended by Warren Buffett Part 4: Securities Analysis [1934 Edition 1st Edition] Benjamin Graham (Author)
Contents
- Securities analysis and its approach
- Fixed income securities
- Top securities with speculative nature
- Common stock investment theory
- Profit and loss statement analysis and common stock valuation
- Balance Sheet Analysis-The Implications of Asset Value
- Supplementary Factors for Securities Analysis-Price and Value Contradictions
Review
The excellent method of finding cheap stocks and bonds developed here is still unparalleled and is still practiced by many investors.
This series, from 1st to 5th edition, has been read by more than 1 million investors for over 60 years and is still the investor’s bible.
This book fully conveys the essence of Graham and Dodd’s value investing, and the message of this book, published five years after the historic New York stock market crash of 1929, is still fresh and brilliant. It gives us many suggestions today.
Also, bonds and stocks, investment and speculation. Those with areas of opposite nature, depending on the definition, do not equate investment and security, but ensure principal security and return based on in-depth analysis.
I feel that it is very beneficial for me to increase these new perspectives when investing.
Warren Buffett’s Comments
“Graham was a great teacher for me. This book has given me a roadmap for my investment,” he said.
Book Recommended by Warren Buffett Part 5: Keynes Persuasion Collection JM Keynes (Author)
Contents
- Inflation and Deflation ｜ Inflation and Deflation ｜
- Return to the Gold Standard ｜ The Return to the Gold standard ｜
- The End of Laissez-Faire ｜
- Future ｜ The Future ｜
- The Path to Prosperity ｜ The Means to Prosperity ｜
Review
A collection of articles published by Keynes in magazines from 1919 to the 1930s. Someone’s spending is someone’s income, so austerity policies and sumptuary law are repeated many times under oversupply.
In deflation, companies cannot start new businesses by borrowing money, so the government must stop the outlook for deflation with additional fiscal policies and allow companies to start new businesses.
It also briefly explains the psychological expectations and multiplier effects introduced by Keynes.
At that time, I feel that it was a situation I had seen somewhere, such as the reduction of civil servants and the increase in taxes during the recession. Keynes, in coordination with other countries, alleviates the shock of excessive inflation, how to control the capitalist economy, which is prone to deflation, and fluctuations in prices and exchange rates between nations. It seems that he was struggling to maintain employment.
I think he was pursuing some kind of moderate virtue.
It may have been an innovative idea at that time. In terms of content, it is content that we want a wide range of people, from beginners to advanced users, to read.
Warren Buffett’s Comments
“Reading Keynes’s dissertation makes us smarter about securities and markets,” he said.
Warren Buffett’s Recommended Book # 6: Gaining Unusual Benefits from Equity Investment Philip A. Fisher (Author)
Contents
- What you can learn from the past
- What you can see from “How to use peripheral information”
- What to Buy-Fifteen Points to Find Out About Stocks
- What Stocks Should I Buy-Buy Stocks That Meet Your Needs
- When to buy
- When to sell and when not to sell
- Various arguments about dividends
- Five points investors should avoid
- Five other points to avoid
- How to find growth stock
- Summary and conclusions
Review
Although it was written 60 years ago. The skeleton of the argument is still valid today, without denying the fading that accompanies technological evolution. Time/will/judgment with patience and market deception in mind. The funds are surplus. Moreover, the last is “luck”. In addition, I agree with the harmful effects of “ego”, such as sticking to a slight difference in the bid price and stopping loss. On the other hand, the matter of “investor’s opinion” is YES / NO. After scrutinizing it, I got the impression that the axis was thickened by consolidating the content that touched my heart along my own axis. I think whether the title “unusual” suits me depends on whether I should read this book.
Warren Buffett’s Comments
“I am an avid reader of Phil and I would recommend his book to you,” he said.
Warren Buffett’s Recommended Book # 7: Money and Common Knowledge John C. Bogle (Author)
Contents
- Don’t make “winner’s game” a “loser’s game”
- Share your destiny with the company
- Why make a “winner’s game” a “loser’s game”
- Focus on low-cost funds
- Index management with Benjamin Graham
Review
A book that recommends index investment as a highly reliable investment. I think this is a book where you can learn the most rational investment method for those who manage assets.
Since the author is an American, there are some points to be aware of when replacing it with Japan, such as foreign exchange risk and market growth potential.
He also talks about how it makes sense to invest until just before he dies and continue to save assets, and how to utilize the capital collected from stocks, and I think it is effective in increasing perspectives.
Warren Buffett’s Comments
“Before seeking advice from a financial advisor, you should read this book first.”
