WARREN BUFFETT'S CLASSICS
Warren Buffett describes himself as 85% Benjamin Graham and 15% Phil Fisher. He has often stated that these are the two people who have had the most influence on his investing style. So here is a short list of the most famous books recommended by the legendary investor.
The Intelligent Investor
Benjamin Graham
Considered a bible of investment, The Intelligent Investor was published in 1949. Benjamin Graham has been the teacher of Warren Buffett at Columbia University. Both Graham and this book had a great influence on Warren Buffett's life, who would describe this work as "The best book ever written on investing."
Common Stocks and Uncommon Profits
Phil Phisher
Written by Philip Fisher in 1858, this book is considered an investment classic and a reference for investors looking to identify quality companies with long-term growth prospects. Fisher emphasizes the fundamental study through management, competition and innovations. This book also presents the famous method of the 15 points to look for in a stock.
Security Analysis
Benjamin Graham & David L. Dodd
Published in 1934, this book presents the basics of value investing by introducing the concept of the "margin of safety". It offers a rigorous method for assessing the intrinsic value of securities by emphasizing financial analysis and risk management. The authors show the importance of financial statement analysis to assess the strength of a company and minimize investment risks.
Business Adventures
John Brooks
“Business Adventures remains the best business book I have ever read.” Bill Gates
Knowing the great friendship between Warren Buffett and Bill Gates, a book appreciated by both men should be in every business library! John Brooks, is a renowned economic journalist who has devoted his career to exploring the twists and turns of the business world. In this book, he traces emblematic episodes in the history of American business. A fascinating book thanks to lively journalism.
GENERAL KNOWLEDGE FOR INVESTING
The books presented in this list aim to describe the different strategies used by the best investors and fund managers in the world. These books are of rare fidelity, since they are partly written by the actors themselves. In addition to being able to immerse yourself in the minds of investors and discover the secrets of their professions, these books will above all allow you to target your skills and your personality in order to define which strategy would in principle be made for you.
Reminiscences of a Stock Operator
Edwin Lefèbre
Considered a reference in terms of speculation, this book traces the life and history of Jesse Livermore, one of the greatest speculators of all time. Recommended by Paul Tudor Johns: "It is a textbook for trading. I hand a copy to every new trader we have." This easy-to-read book will immerse you in the life of a giant.
One Up On Wall Street
Peter Lynch
Peter Lynch, famous for successfully managing the Fidelity Magellan fund, shares his investment philosophy based on his own experience, through a practical guide for investors who want to beat the market by adopting a simple but effective approach. Through knowledge, company categorization, in-depth research, long-term thinking and emotions, the author claims that investors have an advantage over professionals. An accessible and inspiring book, ideal for beginners or intermediate investors.
The Alchemy of Finance
George Soros
Famous for his bet against the pound sterling in 1992, legendary investor George Soros shares in this book his theory of reflexivity as well as his thoughts on financial markets. This book is both a theoretical analysis and an autobiography of his career as a speculator. The author shows that finance is as much an art as a science and highlights the importance of understanding the psychological dynamics and beliefs of investors. This book, dense and conceptual, is more aimed at advanced readers.
The Man Who Solved the Market
Gregory Zuckerman
This book traces the history of Renaissance Technology and its founder, Jim Simons, thanks to Gregory Zuckerman, an investigative journalist for the Wall Street Journal. The Renaissance fund remains one of the most successful thanks to the power of algorithms. This book tells the story of this success and how this company works.
PERSONAL FINANCE
​Located between investment, personal development and culture, this section contains books accessible to all, allowing you to take control of your financial future. Among these titles, some have been recommended by Charlie Munger and Warren Buffett. These books will give you a certain vision of money but above all the education necessary to become a responsible investor.
The Richest Man in Babylone
George S. Clason
​Recommended by Charlie Munger, this book is a true classic in the books of prosperity and financial success. Through the history of the ancients, this book provides real lessons and teachings to be on the path to wealth.
A perfect book to adopt good habits as early as possible.
Where are the Customers' Yachts?
Fred Schwed Jr.
Warren Buffett mentioned the book “Where Are the Customers’ Yachts?” at Berkshire Hathaway’s annual meeting in 2016, claiming to have read it in 1940, when he was 10 years old. Its title refers to the story of a visitor from New York who admired the yachts of bankers and brokers and naively asked where the customers’ yachts were. The book, originally published in 1940, offers a genuine look and humorous critique of Wall Street and remains relevant decades later.
The Little Book that Beats the Market
Joel Greenblatt
Founder and Managing Partner of Gotham Capital and a professor for over twenty years at Columbia University, Joel Greenblatt provides a “magic formula” claiming that anyone could beat the market.
Combining reasoning and intuition, this book invites both novices and seasoned investors to rethink their approach to the markets. By simplifying the complexities of the stock market, the author offers keys to act with confidence in investing, making this book a must-read for those who like to defy convention.
The Little Book of Common Sense Investing
John C. Bogle
Founder of Vanguard Group, John Bogle is considered the pioneer of passive investing through index funds. A method that is based on great diversification at low management costs. His philosophy is based on the principle that high fees and speculation harm the returns of ordinary investors, for which he defended simple long-term strategies. This book shows with common sense why this strategy is one of the best while making a great contribution to investors.
The Education of a Value Investor
Guy Spier
​Although recent and concise, this book is unique. The author invites us to reflect on ourselves and recounts his career and life (and its transformations) from his grand beginnings on Wall Street to today, where he manages several hundred million dollars with his Aquamarine Fund in Zurich.
A story rich in life and investment lessons thanks to various guides such as Warren Buffett and a personal quest for wisdom.
A must-read for those interested in the world of investing and determined to forge their own path as an investor.
UNSHAKEABLE
Tony Robins
Arguably one of the most talked-about personal development authors of our time, Tony Robins presents in this effective book the benefits of passive investing from the perspective of financial freedom. He upholds the same philosophy as John Bogle, but presented in a more tangible way.
Thanks to his extensive career and numerous encounters, the author presents us not only with a beautiful way of investing but also with a new way of thinking and acting throughout our lives, using simple guidelines, inspiring stories, and compelling ideas.
ACADEMIC FINANCE
This last presentation contains some more complete and technical books. We are here in academic readings, generally followed by students in finance. However, everyone can be interested in the many concepts and aspects of the markets presented there. These books will most certainly strengthen your technical skills to act as a financial actor but will also broaden your knowledge.
Directeur artistique
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Corporate Finance
Jonathan Berk & Peter DeMarzo
A true academic reference work, this textbook presents corporate finance using the unifying valuation framework based on the law of one price.
Companies, the time value of money, bonds, stocks, academic theories of risk, debt, options, financial valuations and decisions are covered in 31 chapters (3rd edition). Unlike the classic lectures offered in other sections, here the book will show you page by page how each academic concept works and the tools essential to financial decisions.
Professor of finance at the UCLA Anderson School of Management, Peter DeMarzo is recognized for his research in corporate finance, particularly on capital structure and resource allocation. Professor at Columbia Business School, Jonathan Berk is an expert in corporate finance and asset valuation.
Directeur artistique
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Options, Futures, and Other Derivatives
John C. Hull
Intended for both students and trading floor players, this book is considered one of the references in the field of derivative financial instruments.
Composed of two parts, the book first presents an introduction to derivative assets and then a set of chapters on more complex concepts ranging from the functioning of futures markets, Wiener process and Itô lemma, Martingales, swaps, exotic options and others.
The book therefore addresses in detail the valuation of derivatives, risk management and hedging strategies, thus providing readers with the essential tools to navigate the financial markets.
John Hull has been a professor of finance at the Joseph L. Rotman School of Management - University of Toronto since 2000. He obtained his doctorate in finance (Ph.D.) from the Cranfield School of Management - Cranfield University in the United Kingdom (1973-1976)