Buffett on Ben Graham's investing principles · Transcript · BuffettMungerGPT

WarrenOn investment books, if you're asking about that, I would recommend the first two books that Phil Fisher wrote back around 1960 common sense and uncommon profits and the second one. They're very good books. You know, I obviously recommend first and foremost the intelligent investor with chapters 8 and 20 are the ones that you really should read. Two of the – well, all of the important ideas in investing really are in that book because there's only about three ideas. Those two are emphasized in those two chapters. One is the think of yourself, the thing of investing is owning a business and not buying something that's wiggles around in price. And the second one is your attitude, which ties in with that, the attitude toward the market that's covered in Chapter 8. If you have the proper attitude toward market movements, it's an enormous help in securities. And the final chapter is on the margin of safety, which means don't try and drive a 9,800-pound truck over a bridge that says is, you know, capacity 10,000 pounds, but go down the road a little bit and find one that says capacity 15,000 pounds.