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 A file photo of Warren Buffett (AP)
A file photo of Warren Buffett (AP)

Two books Warren Buffett suggests reading now in these times

  • His fortune of $72 billion is the fourth-largest in the world, according to Forbes
  • Famed investor Warren Buffett turns 90 on August 30

Famed investor Warren Buffett over the weekend said he is confident the US economy will bounce back from its pummeling by the coronavirus pandemic because "American magic has always prevailed." "We've faced great problems in the past, haven't faced this exact problem -- in fact we haven't really faced anything that quite resembles this problem," Buffett said in a lengthy speech on the country's economic history, at the annual meeting of Berkshire Hathaway Inc.

"But we faced tougher problems, and the American miracles, American magic has always prevailed and it will do so again."

Buffett, who turns 90 on August 30 is considered one of the world's savviest investors. His fortune of $72 billion is the fourth-largest in the world, according to Forbes.

The Berkshire Hathaway chairman also recommended two books: 'The Great Crash' by John Kenneth Galbraith and 'Keeping At It: The Quest for Sound Money and Good Government' by Paul Volcker.

Paul Volcker, the towering former Federal Reserve chairman who tamed US inflation in the 1980s and decades later inspired tough Wall Street reforms in the wake of the global financial crisis, died last year at the age of 92.

In 2018, he published a memoir, “Keeping at It: The Quest for Sound Money and Good Government."

Volcker was the first to bring celebrity status to the job of U.S. central banker, serving as chairman of the Federal Reserve from 1979 to 1987.

Buffett also said that current Federal Reserve chairman Jerome Powell also belongs on the 'same pedestal' as former Fed chair Paul Volcker, for his response to the pandemic. (With Agency Inputs)

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