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According to Warren Buffett, these two historic books may help people to better understand what is happening in the world today.
Chairman and CEO of Berkshire Hathaway Inc (NYSE: BRK.A) (NYSE: BRK.B) Warren Buffett, who is also a famous investor, at his company’s annual stakeholders meeting talked about the history as it relates to recent global happenings and even recommended some books to read.
Buffett said at the online event that America cannot be stopped, analyzing historical facts. He noted that even the current pandemic cannot hold the country. “The American miracle, the American magic has always come out on top, and it will prevail,” he said.
While addressing stakeholders at the event, the CEO reflected on significant historical landmarks that had giant impacts on global and America’s history. He talked about World War II, the Cuban Missile Crisis, the 9/11 attack, etc. After recollecting these events, Buffett encouraged people to read historical books. The CEO overtime has been known to love reading and preach that young people should read daily.
Books Recommended by Warren Buffett
Warren Buffett at the stakeholders’ meeting talked about a time when America was closed to crumbling alongside the 1929 stock market crash that prompted the Great Depression.
He recommended everyone to read “The great crash of 1929” by John Kenneth Galbraith to learn more about that period. In the book, the author analyzed the 1929 financial collapse, which led to it and how it triggered the Great Depression.
The CEO at the meeting also talked about the Federal Reserve System and how it has functioned. Buffett was particular about Paul Volcker, who he heaped with praises. Volcker was chairman of the reserve while Jimmy Carter and Ronald Regan were presidents of America.
Warren Buffett at the event revealed that he has always ranked Volcker in a special place amidst chairmen of the Fed. He said he always topped his list. Paul Volcker’s book “Keeping At It: The Quest for Sound Money and Good Government” is a memoir of his time as chairman of the Federal Reserve. The memoir also tells the story of his career.