In his letter published last Saturday, Warren Buffett has shared two interesting reading recommendations for investors.
“Where Are the Customers’ Yachts?”
by Fred Schwed. In his letter, Buffett highlights a cartoon of Adam and Eve and sums up the book this way: “Its wisdom and humor are truly priceless.”
It’s also one of items that will be sold at this year’s Berkshire Hathaway Inc. shareholder meeting on May 2, he notes.
“The Little Book of Common Sense Investing”
by John Bogle. Buffett supposes investors would be better off spending time with this book, rather than listening to investment managers.
"Most advisors, however, are far better at generating high fees than they are at generating high returns. In truth, their core competence is salesmanship.”
John Bogle, who established Vanguard and is an evangelist for low-cost investing, recently joined a White House initiative that would require a fiduciary standard for stockbrokers who invest the retirement savings of millions of American, meaning their investment recommendations put your interests ahead of their own profit motives.
Buffett has also said those attending the annual meeting will have the chance to buy an updated compilation of his annual letters to Berkshire Hathaway investors as well as a book commemorating his 50 years at the helm.
