Warren Buffett And Charlie Munger on Reading Habits & Books

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The Billionaire duo share their reading advice and reading routine and methods.

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] Habits your for newspapers. I get up one morning I always have two or three Riak and I will be back and forth into it. And that's what I do. What are your papers. Wall Street Journal New York Times the national time.

[00:00:23] My question is about reading about newspapers. Anstruther now that I have two young children at home to have a third on the way and I don't know how much time I need to be dedicating to my papers and my reading that I'm missing from the kids and I kind of feel like a jerk sitting in a dark room with the door closed hearing the kids and do I want those memories versus reading so I wondered with some of the kids you had. How did you balance your reading. And did you fluctuate the number of people that you had in your driveway.

[00:00:55] I have that kind of like when I want to read some of tune everything out. So.

[00:01:01] You'll be able to even present in fact I frequently share a room and converse with deaf people while people around me are European so I don't think you should try American lay word verbatim.

[00:01:17] Well said. I don't know why this person. Who doesn't read the law. I suspect that you can. Read on computer now and get a lot of a lot of it. But I doubt it'll work as well as. Reading print worked for me. I think people will multitask. Pay a huge price.

[00:01:40] And they think they're being extra productive. And. I think they're. Occupying. The metaphor one way the man in the ass kicking contest. I think when you. Multitask so much you don't have time to think about anything deeply. You are giving the world an advantage. You shouldn't do. And practically everybody is getting into that mistake. Concentrating hard on something important because.

[00:02:09] I can't succeed at all up doing it. I did not succeed. I succeed because I have a long attention span.

[00:02:23] So what do you think of the last couple of books that have been written about you and if there was an author here what would you tell him. I was writing the book about you. I haven't read what books you're talking about. I like to tell him I've never finished. Them.

[00:02:41] And my thoughts on the books that have been written about life is within me some amount of course people tend to look at most of them. But let me just copy old quotes for now. Why should internally and believe this. But if you could have written you got to be. Benjamin Franklin. And you did. You ask what were you talking about.

[00:03:14] Well it's hard for you. Oh it. Benjamin Franklin has already taught me what I want to know because he left such a record. And his biographer has been so good and he was so famous in his own life for so long. So. I already had my conversations with him. Actually gave us the autobiography then the various biographies of Brad Pitt beside him the rest of the story.

[00:03:43] Every year when it comes to these kind of events everyone asks you what you are reading. I'd like to ask you how you read and when you are reading a book of significance and you appreciate that you are reading a paragraph from a chapter that's deeply meaningful. How do you retain that information. Do you have finally system.

[00:04:05] No I don't. I. I've never taken notes. I've never kept notes when I was a student. I just. Read plays when I feel like reading.

[00:04:15] I think they think well I feel like that's my system.

[00:04:22] I don't think it's the right system for everybody but it seems to work well for me anyway. But.

[00:04:29] I read every book in the Omaha Public Library of this book. By the time I was 11 and back here as I got back here my dad was in Congress I said get everything in this library of Congress I want to read that. But I still spend five or six hours a day reading I mean it just you can learn so much I literally love biography just to be able. To live the lives of these people that been fixed or seem so extraordinary. The lessons and both you know the discouragements face just everything about it. So you can't get enough of reading.

[00:04:58] When he came to Columbia and spoke to the business school professor verst Greenwald's class and as you laid out water early 0 2 the very last question that was posed to him was what a secret was and he had this it. Never forget he had this giant pile of paper and he pulled out as a complete hodgepodge and said they read 500 pages a week and anyone can do it. And you know it's like compound knowledge if he started today it would just build over time. And so that's when I started it. So somewhere around 500 sometimes a little that our pages a week and that can be all those things I mentioned before any reports and transcripts and regulatory filings and so forth.

[00:05:35] How do you keep up with all the media and information that goes on in our crazy world and in your world of Berkshire Hathaway. What's your media routine.

[00:05:42] I just read and read and read. I probably read five to six hours a day I don't read as fast now as when I was younger but I read five daily newspapers I read a fair number of magazines I read 10 ks I read annual reports and I read a lot of other things too. I've always enjoyed reading I love reading biographies. For example when you process information very quick while I have some filters in my.

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