6. The Essays Of Warren Buffett: Lessons For Corporate America by Warren Buffett and Lawrence Cunningham

“The Essays Of Warren Buffett: Lessons for Corporate America” is one of the rare books where the author’s name itself is enough to convince you to read it.

The book talks about the technology stock that is bursting the circle of competence, unusual commitments and repurchasing the shares.

7. The Black Swan By Nicholas Nassim Taleb

The Black Swan was published in 2007 by Nicholas Nassim Taleb. The author says that people who get high pays in the financial service industry usually understate the chance of adversely shocking events.

To explain the theory of “The Black Swan,” Taleb introduced two words called “mediocristan” and “extremistan” to explain the market risks.

Mediocristan means where expected things and where the probability of its occurrence is easy to predict. Moreover the impact that it’s going to make will be relatively smaller.

Whereas in the case of extremistan, the events that occur looks unlikely and impossible but these events tend to occur frequently that brings in a lot of impact.

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