What are the best value investing books of all time?
 
To answer the question, let’s look at what books influenced the greatest value investors.
 
Legendary value investors such as…
  • Warren Buffett
  • Charlie Munger
  • Seth Klarman
  • Howard Marks
  • Joel Greenblatt
…have each shared what value investing books influenced them the most.
 
In this post, I’m going to share the favorite books from each of these famed investors.
 
First, let’s look at the reading list of the most famous value investor of all-time Warren Buffett.

Warren Buffett’s Favorite Value Investing Books

What books on value investing does Warren Buffett recommend?
 
Each year at the Shareholder Conference, Buffett shares his favorite books. His complete list of recommendations covers everything from biographies on himself to classic books on investing.
 
The investing books which he list that shaped his thinking include:

Charlie Munger’s Recommended Value Investing Books

Charlie Munger shares the complete list of his favorite books in the back of Poor Charlie’s Almanack.
 
Out of the 20 recommendations, Munger lists only one book on value investing.

Seth Klarman On The Best Value Investing Books

 The well-respected hedge fund manager Seth Klarman, shared his favorite books at the 2010 CFA Institute Annual Conference
 
His recommended value investing books are:

 Howard Marks’ Recommended Value Investing Books

 In the introduction of his book The Most Important Thing, Howard Marks explains:
 
If you read widely, you can learn from people whose ideas merit publishing. Some of the most important for me were Charley Ellis’s great article “The Loser’s Game” (The Financial Analysts Journal, July- August 1975), A Short History of Financial Euphoria, by John Kenneth Galbraith (New York: Viking, 1990) and Nassim Nicholas Taleb’s Fooled by Randomness (New York: Texere, 2001). Each did a great deal to shape my thinking.
 
*The original Charles Ellis article was then turned into a book.

Joel Greenblatt’s Recommended Value Investing Books

 One book that comes recommended from investors of all types is Joel Greenblatt’s You Can Be A Stock Market Genius
 
Michael Burry, Dan Loeb, Bill Ackman, David Einhorn, and Seth Klarman have all recommended the book.
 
In the back of the highly recommended book, You Can Be A Stock Market Genius, Greenblatt lists his favorite books. 
Next, Joel Greelblatt teaches the Value and Special Situation Investing class at Columbia. The required reading he recommends for students is:

Best Value Investing Books of All Time

When it comes to selecting the best value investing books, you can’t go wrong with the reading lists from above.