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Warren Buffett: 11 Books That Made Me MILLIONS (Must READ) - YouTube

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i just read and read and read i probably

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read

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five to six hours a day i don't read as

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fast now as when i was younger but

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i've read every book in the alma public

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library i'm in this book by the time i

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was 11 and we were back here and as soon

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as i got back here my dad was in

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congress i said get everything in the

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library of congress i want to read it

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but i will say this i know no wise

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person

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who doesn't read a lot

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today we are going to talk about 11

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books that warren buffett recommends

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every investor must read

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first quick side note did you guys know

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buffett's full name is warren edward

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buffett i've been following him for a

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while and i just learned his middle name

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comment down below if you actually knew

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his middle name

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anyways back to the video you might ask

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how do we know that buffett actually

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recommended all the books in this list

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well as most of you might already know

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buffett is an avid reader himself he

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spends 80 percent of his day reading so

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whenever he finds an exceptional book he

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usually shares it through his

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shareholders letters or at his annual

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meetings

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so let's jump right into what these

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books are common stocks and uncommon

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profits by philip a fisher

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widely respected and admired philip

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fisher is among the most influential

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investors of all time

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his investment philosophies introduced

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almost 40 years ago are not only studied

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and applied by today's finances and

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investors but are also regarded by many

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as gospel his book common stocks and

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uncommon profits published in 1958

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devotes careful attention to this

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concept of networking and gathering

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information via business contacts

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fischer recommended targeting businesses

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for investment that had growth

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orientation high profit margins high

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return on capital

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a commitment to research and development

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a superior sales organization a leading

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industry position and proprietary

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products or services he was famous for

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the depth of his research on companies

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with which he would invest he relied on

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personal connections what he called the

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business grapevine and conversation to

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learn about businesses before buying

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stock

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warren buffett said

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a thorough understanding of the business

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obtained by using phil's techniques

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enables one to make intelligent

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investment commitments business

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adventures 12 classic tales from the

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world of wall street by john brooks not

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long after microsoft corporation

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co-founder bill gates first met mr

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buffett back in 1991 mr gates asked the

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oracle of omaha to recommend his

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favorite book about business as mr gates

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recounted mr buffett didn't miss a beat

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before naming this a collection of new

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yorker articles from the 1960s

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the book contains notable and

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fascinating accounts of some of the

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largest companies of the mid-1900s that

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are as relevant today to understanding

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the intricacies of corporate life as

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they were when the events happened

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stories about wall street are infused

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with drama and adventure and reveal the

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machinations and volatile nature of the

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world of finance

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john brook's insightful reportage is so

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full of personality and critical detail

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that whether he is looking at the

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astounding market crash above 1962 the

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collapse of a well-known brokerage firm

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or the bold attempt by american bankers

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to save the british pound one gets the

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sense that history really does repeat

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itself

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where are the customers yachts by fred

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schwed another decades-old classic this

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book uses humor to pierce some of the

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pre-tensions of wall street the title

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comes from the story of a visitor to new

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york who is admiring all the nice boats

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in the harbour and was told that they

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belonged to wall street bankers

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he naively asked where the banker's

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clients kept their boats

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the answer they couldn't afford them

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mr buffett once called it the funniest

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book ever written about investing and

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said it lightly delivers many truly

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important messages on the subject full

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of wise contrarian advice and offering a

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true look at the world of investing in

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which brokers get rich while their

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customers go broke this book continues

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to open the eyes of investors to the

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reality of wall street

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a light fun read and something you

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definitely want to pick up to have a

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laugh and more importantly

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learn about the world of brokers and

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managers so you don't lose out on your

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money essays in persuasion by john

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maynard keynes essays in persuasion

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written by legendary author john maynard

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keynes is widely considered to be one of

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the top 100 greatest books of all time

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the essays in this volume show keane's

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attempts to influence the course of

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events by public persuasion over the

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period of 1919 to 40. with startling

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accuracy keane's forecast the economic

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fluctuations that were to beset the

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economies of europe and the united

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states and even proposed measures which

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if he did at the time

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might have warded off an era of

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worldwide depression

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his views on soviet russia on the

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decline of la says fair

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and the possibilities of economic growth

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are as relevant today as when keane's

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originally set them forth mr buffett has

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flagged this collection of writings from

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the noted economist both for the

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importance of its ideas and the clear

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way they're presented while mr keynes

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has now known and in some quarters

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vilified for his work as an economist he

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also devoted a fair amount of time to

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stock picking mr buffett has deemed him

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brilliant at both callings reading

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keynes will make you smarter about

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securities and markets he told

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outstanding investor digest in 1989 i'm

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not sure reading most economists would

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do the same the little book of common

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sense investing by jack bogle jack bogle

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the ceo of the vanguard group is a

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prolific investor best known for

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creating the first index fund and author

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of multiple books the little book of

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common sense investing is probably his

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most famous work

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in a time when everyone tried to beat

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the market with great stock picks and

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then charge expensive fees for it he

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thought why not just mimic what the

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indexers are doing and not manage

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anything

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this little thought turned into one of

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the most prevailing investment ideas of

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the following century and one of the

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most respected investment companies in

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the world the book shows you an

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alternative to actively poorly

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management overpaid funds by introducing

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you to low-cost passive index funds as a

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sustainable investing strategy which

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gets you the retirement savings you need

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without the usual hassle of stock

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investing he claims that the majority of

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your money is best invested in safe

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low-cost index funds and you can't go

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wrong by just choosing the cheapest

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index fund for the record mr buffett

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himself has frequently said most

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investors are better off buying low-cost

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index funds poor charlie's almanac the

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wit and wisdom of charles t munger

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edited by peter kaufman this is a book

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very close to mr buffett

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it comes from charles munger the vice

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president of berkshire hathaway a man

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warren buffett described as his closest

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partner and right hand man mr buffett

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hasn't been shy about attributing much

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of berkshire's success to his right-hand

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man in no small path for saying no to

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some of mr buffett's stupider ideas mr

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munger is a deep thinker on human

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behavior and human frailties and has

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spoken often about how investors can

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shoot themselves in the foot this book

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is a biography that chronicles charlie's

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growth from his humble omaha childhood

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to his phenomenal financial success his

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midwest values prepared him

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well for his long illustrious journey

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the book also summarizes his approach to

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life decision making learning and

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investing

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it talks about his unconventional method

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of thinking and his astonishing work

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ethic that is the twin fonts of his

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remarkable success there is a special

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mongerisms charlie unscripted section

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that holds a collection of scathing

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remarks he had made at previous westco

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financial and berkshire hathaway annual

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meetings this book also includes the

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talks and speeches that he had given in

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a specific 20-year period the book not

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only will help you with direct tips on

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investment but reading through mr

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munger's experiences will definitely

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help you hone your investing skills and

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to identify better investments the

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intelligent investor by benjamin graham

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if you're watching this video i am 100

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sure you already know this book it's

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considered the bible of investing the

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book that started it all for buffett a

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classic on the basics of value investing

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warren buffett once said about the book

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picking up that book was one of the

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luckiest moments in my life after

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reading it mr buffett enrolled in

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columbia university so he could take

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classes from mr graham and later went on

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to work for him even now when asked a

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question about his approach to investing

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mr buffett is liable to cite specific

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chapters from the book the book teaches

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readers strategies on how to

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successfully use value investing in the

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stock market the intelligent investor is

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notable today with many famous investors

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praising it for helping them learn how

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to determine value in the stock market

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and successfully pick stocks for their

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portfolios graham's main investment

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approach outlined in the intelligent

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investor is that of value investing

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value investing is an investment

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strategy that targets undervalued stocks

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of companies that have the capabilities

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as businesses to perform well in the

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long run value investing is not

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concerned with short-term trends in the

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market or daily movements of stocks

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this is because value investing

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strategies believe the market overreacts

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to price changes in the short term

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without taking into account the

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company's fundamentals for long-term

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growth in its most basic terms value

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investing is based on the premise that

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if you know the true value of a stock

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then you can save lots of money if you

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can buy that stock on sale this book is

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an absolute must read for starters to

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understand how to truly evaluate the

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market and not be swayed by trends the

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most important thing uncommon sense for

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the thoughtful investor by howard marks

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howard stanley marks is an american

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investor and writer he is the co-founder

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and co-chairman of oaktree capital

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management the largest investor in

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distressed securities worldwide the most

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important thing explains the keys to

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successful investment and the pitfalls

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that can destroy capital or ruin a

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career utilizing passages from his memos

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to illustrate his ideas

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marks teachers by example detailing the

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development of an investment philosophy

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that fully acknowledges the complexities

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of investing and the perils of the

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financial world brilliantly applying

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insight to today's volatile markets marx

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offers a volume that is part memoir park

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creed with a number of broad takeaways

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marx expounds on such concepts as second

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level thinking the price value

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relationship patient opportunism and

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defensive investing frankly and honestly

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assessing his own decisions and

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occasional missteps he provides valuable

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lessons for critical thinking risk

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assessment and investment strategy in

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today's post-pandemic global market

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where companies are still finding their

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footing these are important values to

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find a solid investment the outsiders by

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william thorndike jr a book that was

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number one on warren buffett's

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