Benjamin Graham "Individuals who cannot master their emotions are ill-suited to profit from the investment process."
Warren Buffett "Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it."
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Ronald W. Chan’s latest book, The Value Investors: Lessons from the World’s Top Fund Managers, is an excellent compilation of interviews with twelve highly successful value investors from very different backgrounds. Read this article for a brief review of the book.
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We recently had the opportunity to review a new subscription based newsletter published by Mariusz Skonieczny, founder and president of Classic Value Investors. Mr. Skonieczny is the author of Why Are We So Clueless About the Stock Market? which we reviewed in 2009 as well as a useful e-book on understanding financial statements which we reviewed in 2010.
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With the large number of books related to Warren Buffett and Berkshire Hathaway, nearly everyone needs to be selective when it comes to choosing which books are worthy of attention. Readers who wish to gain insight into entrepreneurship from a successful CEO who sold his business to Berkshire Hathaway should consider Barnett Helzberg’s 2003 book “What I Learned Before I Sold to Warren Buffett”. Read this article for a review of the book.
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In-N-Out Burger requires no introduction for residents of California, Nevada, Arizona, and Utah as well as dedicated fans in other states who often make a special point to visit one of the chain’s 246 locations whenever possible. From its humble origins in 1948 at a tiny location in Baldwin Park, California, In-N-Out reached cult status through its slow growth approach of providing “quality, cleanliness, and service” to customers while maintaining an unusually good relationship with employees and suppliers. However, nothing proves the power of In-N-Out’s brand more clearly than a series of disasters that left the company without good succession plans. Read this article for a review of Stacy Perman’s recent book, In-N-Out Burger.
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The holiday season is a good time to revisit books that have been read during the past year and plan reading lists for the new year. The eleven selections listed in this article are mostly recent books focusing on finance, economics, and business topics but not all were published during 2010. The reality is that many worthy books are written each year that cannot be read due to time constraints, and this has been particularly true as the avalanche of financial crisis books came to market over the past two years. However, in other cases, we simply overlook “must read” books for years or decades. Hopefully this list will provide at least a few ideas for your 2011 reading list.
