Warren Buffett Recommends Best Investing Book For Beginners 2023

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01. I started buying stocks when I was 11. I've been reading every book in the library on it I loved it my dad you know his business and I get to go down his office and read the books down there and I saved the money and finally by the time I was 11 I could buy a stock and I could tell you at that time I went to nurse doc exchange when I was nine my dad took us to New York each kid New York once uh and he took me I went to New York Stock Exchange I was in awe of it I could tell you how the specialist system works and the Odd Lot arrangements and I could tell you history of finance and all of these things and then I then I started I got very interested in technical analysis and charted socks and then all kinds of crazy things hours and hours and hours and and uh and save money to buy other stocks and tried shorting and and I just did everything and then when I was either 19 or 20 and I can't remember exactly where I did it or something uh I picked up a book someplace it wasn't a textbook at school but it was in Lincoln Nebraska and I uh you know I looked at this book and I saw one paragraph and it told me I've been doing everything wrong I just had the whole approach wrong I was I thought I thought I was in the business of trying to pick stocks that would go up and in one paragraph I saw that that was totally foolish and then all of a sudden you see something different than what you were seeing before Donna took me in stocks which I was intensely interested in I had a decent IQ and I was reading and thinking and you know and important to me to make some money on it everything every motivation in the world and then I read a chapter I read a paragraph actually in chapter eight I think it was of an intelligent investor and it just it told me that I wasn't looking at the dock I was looking you know now it was the rabbit whatever it may be and whether you call it a library foreign whatever it may be and that's happened that happened to me in Lincoln I mean it changed my life if I hadn't read that book I don't know how long I would have gone on looking for Head and Shoulders formations and 200-day moving averages and the Odd Lot ratios and a zillion things and I love that kind of stuff except it wasn't it was the wrong stuff I was looking at and I've had that happen and Charlie's had it happen I'm sure it happens a few times in your life and all of a sudden you see something important that why in the hell didn't I see this in the first place maybe it's a week ago maybe it's a year ago maybe it's five years ago maybe it's maybe it's learning how to get along with people yeah I mean whether actually it's it's better to be you know kind or not you know or whether I mean they're just learning how to have if you want the world to love you what you have to do or whatever it's you know what when you see it but she doesn't see it for 10 years before and I don't know whether Charlie's got some thoughts on that I not but that's happened in a few situations in business where I've looked at a company for for a decade and and then there's something that it just all gets rearranged in your mind and you you know you can say well why didn't I see this five years ago or no but usually I've had it happen a few times obviously and and everybody here has and just in different areas of their lives and you think how could I have been so stupid well that's what Charlie's when he was in the law practice uh he had a partner well I told him every smart guy that would get in trouble usually with it was guys and usually it was with women and they'd come into the office and they'd looked you know down faced and everything and it's a it seemed like a good idea at the time you know I mean and their lives unraveled you know in many cases so there's there is that a perceptive Mass that's sitting in there inside somehow and every now and then it produces some insight it's been better actually if it produces insight into your behavior then whether produces insight to make money I mean that and some people never get it and they wonder why they're you know whether their kids hate them or whether there's no way in the world that would give a damn whether they live or die in fact they prefer they die because then then courting them for their art collection or whatever it may be it it's just Charlie would say you know just write your obituary and reverse engineer it and uh not a not a crazy idea