 In an address to a set of MBA students at Columbia Business School in 2000, Warren Buffett, the Berkshire Hathaway CEO, said, Read 500 pages like this every day. That's how knowledge works. It builds up like compound interest. All of you can do it, but I guarantee not very many of you will do it. In this video, I will be sharing with you the 13 books recommended by Warren Buffett, known to be a prolific reader and who is presently the world's third richest man. 1. The Intelligent Investor Warren Buffett was 19 when he read famous Wall Streeter Benjamin Graham's book, The Intelligent Investor. According to Warren, that was the luckiest moment in his entire life because the book gave him an intellectual framework for investing. He further affirmed that to be a successful lifelong investor, insight information, business insights and stratospheric IQ are not enough. You must possess a robust intellectual framework for making wise decisions and also the emotional intelligence to restrain your feelings from destroying that framework. This 1949 book prescribes the proper context and Warren recommends that every investor and potential investor reads it, especially chapters 8 and 20 which he asserts as the bedrock of his investing activities for over 60 years. 2. The Little Book of Common Sense Investing T. John Bugle, the founder of Vanguard and a low-cost investing evangelist, wrote this book. In the words of Warren Buffett, investors will be better off spending time with this book than listening to investment managers. Warren Buffett agrees that Bugle's assertion that most advisors are far better at generating high fees than they are at generating high returns. In truth, their core competence is salesmanship. 3. The Most Important Thing Eliminated Howard Marks, the chairman and co-founder of Oak Tree Capital Management, is renowned for his insightful assessments of market opportunities and risks. After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors and his client memos bring what insightful commentary and the time-tested fundamental philosophy. In a 2011 Barron's review, Howard Marks' chairman and co-founder of Oak Tree Capital intended to wait until he retired to write this book. But Buffett so admired Marks' client's memos that he offered to write a dusk jacket blurb if Mark would publish the book sooner. The result, according to Warren Buffett, is Howard's Marks' The Most Important Thing Eliminated. A book Warren refers to as Rarity, a useful book. 4. Dream Big Buffett recommended this book at the 2014 annual Berkshire Hotway Shareholder meeting. In this meeting, Mr Buffett speaks about virtually anything. And during a Q&A session with investors, he talked up 3G Capital, a Brazilian-founded investment firm he joined forces with to buy H.J. Hens for $23 billion the previous year. Mr Buffett recommended that investors read Dream Big, a book about 3G written by Christian Correa, a Brazilian reporter who had followed the firm as it arranged ever bigger acquisitions. Primarily available in a Kindle version, the book was sold in the exhibition hall of the Berkshire meeting. Ms Correa noted that Mr Buffett's recommendations carry significant weight, that she had sold all 300 copies of the book on sale. 5. Security Analysis There is no more influential investor on Buffett than former Columbia University Professor Benjamin Graham. Buffett once said his investment philosophy was characterized 15% by Phil Fischer and 85% by Benjamin Graham. He noted that Graham was the most significant influencer of his life, more than any other man except my father. Buffett once said and I quote, Security analysis provided a roadmap for investing that I have now been following for 57 years. The book by Benjamin Graham lays the foundational principles of value invested, highlighting that through thorough analysis one can determine the value of a company and see whether or not the market is appropriately classifying it. 6. Stress Test, Reflections on Financial Crisis This book was written by Timothy F. Gettner and published in 1934. Buffett says that the former Secretary of the Treasury's book about the financial crisis is a book that every manager ought to read. Although lots of books have been written on how to manage organizations through tough times, almost none of first-hand accounts are staring a wing of government through an economic catastrophe. Warren Buffett describes this book as sensational with the exact statement, Tim's book will forever be definitive work on what causes financial panic and what must be done to stem them when they occur. 7. The Essays of Warren Buffett The definitive work concerning Warren Buffett and intelligent investment philosophy, this is a collection of Buffett's letters to shareholders of Beckshire Hathaway written about the past few decades that together furnish an enormously valuable informal education. The letters distil, in plain words, all the basic principles of sound business practices. They are arranged and introduced by a leading apostle of the value school and noted author, Lawrence Cunningham. In his words, Warren Buffett refers to this book as the book I autograph the most. 8. The Clash of Cultures, Investment Versus Speculation This is a book written by Vangad group CEO, John Bugle. This book explains the changing culture in the mutual fund industry, how thinking has invaded the national retirement program, and the need for a federal standard of fiduciary duty. Mr. Bugle has not been merely an eye witness to these changes, but one of the financial sector's most active participants. In The Clash of Cultures, he urges a return to the common sense principles of long-term investing in his 2013 letter to Beckshire Hathaway shareholders. 9. Where Are the Customers' Yachts Where Are the Customers' Yachts was written in 1940 by Fred Shude, an investment professional. In this book, Fred Shude Jr. demonstrates a very humorous style of writing about the craziness of the market at its participants. Some of the most silly emotions that we all experience while investing in the market are mentioned in this book, mostly through humorous and witty examples. In the 2016 Beckshire Hathaway meeting, Warren Buffett said that he had read this book when he was 10 years old, and he urged attendees to get it from the bookstore. 10. Limping on Water My 40-year adventure with one of America's outstanding communication companies In Beckshire Hathaway 2015 meeting, Warren Buffett said, My friend Phil Bilt has written Limping on Water, a chronicle of his life at capital city communications. Capcities will forever represent the gold standard for ethical corporate behavior accompanied by incredible financial performance. Tom Murphy and Dan Burke, former capital city and ABC TV executives, were the architects of these two achievements. Phil Bilt gives you a ringside sit to view the remarkable story. This book is a personal recounting of Bilt's journey from a boy who has cerebral palsy, his family struggling to make ends meet, to a top media executive. 11. Common Stocks and Uncommon Profits Phil Fisher wrote this book, and its first publication was in 1957. Buffett praised Fisher's work, saying, I am an eager reader of whatever Phil has to say, and I recommend him to you. More specifically, Buffett says he is 85% Graham and 15% Fisher. Buffett suggested that investors who make this binary distinction are demonstrating their lack of understanding instead of aptitude. If you are looking to read a book that helps bridge the gap of knowledge between a value investor and a growth investor, this is a great place to start. Fisher's approach is deeply rooted in the idea that intangible factors can produce enormous impact on the long term value of standard stock picks. 12. Poor Charlie Almanac, The Wet and Wisdom of Charles T. Munger This book by Charlie Munger, Buffett's longtime business partner and vice president of Beckshire, offers a treasure trove of financial knowledge in form of speeches and essays. In the words of Warren Buffett, an amazing 3,500 of a collected wisdom of my partner, poor Charlie's almanac was sold. This mean a copy was sold every 9 seconds, and the reason is that you will never find a book with more useful ideas. Word of mouth recommendation caused the first printing of 20,500 copies to sell out, hence a revised and expanded edition will be on sale soon. 13. Mytek, A Global Success Story, 1981-2011 Mytek Industries Inc., a supplier of engineered products for construction, is known as one of Beckshire's very successful subsidiaries. This book tells the story of how Mytek, which started out as a small Midwestern firm in 1955, went from being on the verge of financial collapse to becoming a dominant supplier in its industry. In 2011, Warren Buffett wrote, You'll learn how my interest in the company was originally picketed by my receiving in the mail a hunk of ugly metal whose purpose I couldn't fathom. Since we bought Mytek in 2001, it has made 33 tuck-in acquisitions almost all successful. Successful men do not get successful based on their intelligence. They learn from the stories of others. When Warren Buffett started his invest in career, he would read 600, 750 or 1000 pages a day. How many pages do you read in a day?