Required Reading

This one is straight from Warren Buffett himself. Complied by Lawrence A Cunningham, this book touched on investing topics from intrinsic value to competent management. The Essays of Warren Buffett provides a great overview of how to think about businesses and what makes a good investment.

The title is so bad it’s great! In his book, Greenblatt shows you where to look if you want to generate amazingly high returns. Taking advantage of special considerations, Greenblatt was about to average a compound return of 50% over a 10-year stretch. Pretty amazing right? So if you want to learn more about the exciting world of spin-offs, recaps and other special situations, this book is a must read.

What’s the most important investing concept? I would put my money on Benjamin Graham’s principle – margin of safety. In Seth Klarman’s book he brilliantly explains the do’s and don’ts of an intelligent investors. Maybe you tried to read ‘The Intelligent Investor’ but got lost in Graham’s writing style.  If that’s the case, this book is for you.

Buffett told him, if Marks wrote a book, then he’d write the forward.  Howard Marks book, ‘The Most Important Thing’, is a compilation of his memos and notes throughout his investment career.  In his writings, Marks explains second level thinking and why investors should always be focused on how much they could lose rather than how much they could gain. If you feel you’re generally optimistic on every investment you come across, this book will set you straight.

Some investing books are pretty heavy on theory. They like to talk about investments in hindsight and talk in hypothetically. What’s great about Jeroen’s book is that he takes you through investment that he’s made throughout his career. The best part is Jeroen doesn’t just show you investment that worked out, more than doubling his original investment. He also looks at investment his made that weren’t so successful. If you’re an avid deep value investors, this book is for you.  

I love this book. Tobias does an amazing job at not just explaining what deep value investing is. He also takes you on a path through the investment careers of Buffett, Greenblatt and Karl Icahn. The research in this book alone is enough to buy it. Add on top of that Tobias’s amazing story telling and this book is a must for your collection.

Moats, the bedrock of long-term high returning investments. But it’s not always clear whether a particular company has or doesn’t have a moat. I read this book with little idea it was about moat investment. But once I finished it, I felt I had a great insight on how to identify and think about moats. Highly recommend you pick up this book.