Market Folly's  Instablog

If you desire to be a hedge fund analyst or are looking to refine your fundamental research process, then this post is for you. Band Of Analysts is a community of hedge fund analysts dedicated to sharing their experience, knowledge, and ideas and we can personally vouch for the site as we are a member. Through Powerpoint presentations, access to Excel financial models and educational videos, you can learn to perform the buyside research that hedge fund analysts execute on a daily basis. And, here's the best part: we've secured a 30% recurring discount for our readers. Sign up using discount code: MFolly.

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This time around we feature the favorite reads of none other than the Oracle of Omaha himself, Warren Buffett. Over time, he has recommended various books and here is the comprehensive list:

Common Stocks and Uncommon Profits by Phil Fisher: Regarding this book, Buffett said that, "I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits and Other Writings. When I met him, I was as impressed by the man as by his ideas. A thorough understanding of the business, obtained by using Phil’s techniques . . . enables one to make intelligent investment commitments."

The Smartest Guys in the Room by Bethany McLean: This was recommended in Buffett's annual letter from 2003 and details the rise and fall of Enron.

The Intelligent Investor by Benjamin Graham: This is an obvious choice as Buffett has said that this is "the most important investment book" and in particular has highlighted chapters 8 and 20 as essential.

John Bogle on Investing: The First 50 Years by John Bogle. This book is more aimed at the fund investing crowd given Bogle's expertise (Vanguard funds). In the past, Buffett has advocated investors who don't have much time on their hands to invest in index funds.

The Essays of Warren Buffett by Warren Buffett & edited by Larry Cunningham: There's no better way to learn from Buffett than through his own words. Buffett would agree as he says "The most representative book on my thinking is what Larry Cunningham put together."

Sam Walton: Made in America by Sam Walton: Another read Buffett recommended back in 2003, this book details how Walmart was built from the ground up.

And while this next pick is not from Buffett, we wanted to add it to the list because it is an in-depth biography of him. Those of you interested in the investing legend himself should check out The Snowball: Warren Buffett and the Business of Life by Alice Schroeder.


That wraps up Buffet's favorite picks. Make sure to check out some other books recommended by great investors:

- Hedge Fund Blue Ridge Capital's Picks
- Recommendations from Third Point's Dan Loeb

And lastly, here's various lists we've compiled by category:

- Fundamentals & Valuation
- Technical Analysis & Charts
- Books by Stock Market Gurus

The Value Investing Congress is back on May 4th & 5th 2010 in Pasadena, California at The Langham Huntington Hotel & Spa. This event is a great place to network and to hear actionable investment ideas from prominent hedge fund managers. We've secured a discount for our readers and you can save $1,600 off the regular price if you register with code P10MF4 by January 21st.

They've announced the list of speakers at the Spring event and there are some great names lined up:
 

• John Burbank, Passport Capital
• Bruce Berkowitz, Fairholme Capital Management
• Paul Sonkin, The Hummingbird Value Funds
• Mohnish Pabrai, Pabrai Investment Funds
• Patrick Degorce, Thélème Partners
• Thomas Russo, Gardner, Russo & Gardner
• David Nierenberg, The D³ Family Funds
• Lloyd Khaner, Khaner Capital
• J. Carlo Cannell, Cannell Capital
• Whitney Tilson & Glenn Tongue, T2 Partners

Mohnish Pabrai's hedge funds were up over 118% for 2009 so it will be interesting to see what ideas he has this time around. And then of course here on the blog we've covered portfolio movements from John Burbank's Passport Capital, Whitney Tilson's T2 Partners and Bruce Berkowitz's Fairholme Fund, so we know they'll provide thought provoking ideas as always.

It truly is THE premier investing conference out there. Speaking about his experience at the last event, Joel Greenblatt of Gotham Capital says "it was a fabulous event and I give it my highest recommendation."

Click here to receive your discount to the Value Investing Congress and be sure to use discount code: P10MF4.