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Shortly after meeting Warren Buffett in 1991, I asked him to recommend his favorite book. He never missed a beat: "It's John Brooks' Business Adventures," he said. "I'll send you my copy." He was intrigued: he had never heard of Business Adventures or John Brooks.

Today, more than two decades after Warren loaned it to me and more than four decades after it was first published, Business Adventures is still the best business book I have ever read. John Brooks is still my favorite business writer. (And Warren, if you're reading this post, I'll still have your copy.)

A skeptic might wonder how this out of print collection of 1960s New York items could have anything to say about business today. Finally, in 1966 when Brooks profiled Xerox, the company's top copier weighed 650 pounds, cost $ 27,500, required a full-time operator, and came with a fire extinguisher due to its tendency to overheat. A lot has changed since then.

It is certainly true that many details of the business have changed. But not the basics. Brooks' deeper insights into the business world are as relevant today as they were then. In terms of longevity, Business Adventures ranks alongside Benjamin Graham's The Intelligent Investor, the 1949 book that Warren says is the best book on investing he has ever read.