Book List · Reading Path

Duan Yongping's Reading Map
The Book List That Leads to Value Investing

Duan says: "Reading is a hobby; thinking is a habit." This list contains the books he has repeatedly and strongly recommended in his Q&A discussions.

Essential Reading
01

Warren Buffett's Annual Shareholder Letters

Warren Buffett

"I mostly talk about what investing is — Buffett's shareholder letters cover both what it is and how to do it." — Duan Yongping

02

Poor Charlie's Almanack

Charlie Munger · Edited by Peter D. Kaufman

"Think about 'trends' with Munger's inversion — and you probably won't care about them nearly as much." — Duan Yongping

03

The Intelligent Investor

Benjamin Graham

Buffett learned "buying stocks is buying businesses" from Graham, then passed it to me — this is the origin of all modern value investing. — Duan Yongping

04

The Great Way: Duan Yongping's Investment Q&A

Selected by Zhao Liya · Edited by Munger Academy · CITIC Press, 2025

The only Q&A compilation published with his personal approval — read the original work directly to get the full arc of his thinking. — Duan Yongping

Extended Reading
05

The Snowball: Warren Buffett and the Business of Life

Alice Schroeder

Only by understanding how Buffett's investment philosophy was formed can you truly learn it — not just the surface. — Duan Yongping

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