Ryan Fuhrmann, CFA
May 14, 2008
Warren Buffett attributes his success to spending the majority of his day reading, hunkered down in the details of company annual reports, business periodicals, and numerous other books. It’s littleÂ surprise, then, that reading is a common theme when savvy investors make a pilgrimage to attend Berkshire Hathaway‘s (NYSE: BRK-A) (NYSE: BRK-B) annual shareholder meeting, also known as Woodstock for Capitalists.
Every year, tucked away inÂ a corner of the vast convention center that Berkshire uses to showcase See’s Candies, Fruit of the Loom, and its other businesses, you’ll find a booth reserved for the Bookworm Store. This Omaha-based establishment stocks dozens of books and DVDs to help shareholders learn more about Buffett and Charlie Munger,Â includingÂ an inside peek at how their way of doing business has created such phenomenal wealth over the years.
In many instances, the selections have the Berkshire seal of approval. Buffett and Munger specifically mention a number of titles each year, both during the annual meeting and in various interviews throughout the year. Here are three key titles to get you started.
The Warren Buffett CEO offers one of the few inside glimpses of the management teams that run Berkshire Hathaway’s collection of companies. This was also a purchase of mine, andÂ although I haven’t read it yet, I’m eager forÂ what’s being billed as aÂ ”unique look at the Berkshire Hathaway culture and its management principles.”
I count close to 40 book and video options that Bookworm offered during this year’s meeting, though I must mention that the generous 20% shareholder discount is gone until the 2009 Berkshire meeting. I’m looking forward to sitting on my rear end and diving into my reading purchases,Â in hopes of discoveringÂ a new investment edge.