The favorite business books of Jaime Augusto Zobel and Warren Buffett

The man who does not read good books has no advantage over the man who can’t read them. —Mark Twain

A book is like a garden carried in the pocket. —Chinese proverb

Whether professionals, executives or entrepreneurs, reading books is an invaluable source of knowledge. Among the tycoon book lovers are JG Summit Holdings founder John Gokongwei Jr., LT Group founder Lucio C. Tan and Harvard cum laude graduate, First Philippine Holdings Corp. chairman emeritus Oscar M. Lopez.

Recently, on Jan. 23, at the launching of Cebu’s first business library donated by Bank of the Philippine Islands (BPI) and the BPI Foundation, with the cooperation of the Ayala Foundation, this writer had exclusive interviews with BPI chairman Jaime Augusto Zobel de Ayala, BPI president Cezar P. Consing, and past BPI president, now director Aurelio “Gigi” R. Montinola III about books.

The same occasion also witnessed the launching of a coffee-table book on the history of Philippine money entitled Salapi by BPI, authored by Jose Elazar Reyes Bernales and Carlos Ledesma Apuhin, with some photos by Fr. Generoso Rebuca Rebayla, Jr. 

Books on the history of money, etc.

What are the favorite business books of BPI’s three leaders, which they donated to the BPI Library (free entrance to the public) located at the bank’s main branch near the Cebu City Hall, and was a special request by Cebu Mayor Michael Rama?

BPI and Ayala Corp. chairman Jaime Augusto Zobel de Ayala told me: “We’re donating this library because we believe in the promotion of education. I love books. My wife Lizzie and I have a joint library of books. I buy more books than I can read. One of the most beautiful libraries is the one at my alma mater, Harvard. The book I really like and will donate to the new BPI Library of Cebu? The Ascent of Money: A Financial History of the World by Harvard professor Niall Ferguson. It’s about the principles and history of money.”

BPI president and chief executive officer Cezar “Bong” P. Consing said, “My favorite business book, which I just donated to the BPI Library in Cebu, is What Money Can’t Buy: The Moral Limits of Markets by American political philosopher and Harvard University professor Michael J. Sandel. The markets wouldn’t build the BPI Museum on the first floor of this building and this free public library on the second floor.”

BPI director, ex-president and now Far Eastern University (FEU) chairman Gigi Montinola said, “I donated the business book Good to Great: Why Some Companies Make the Leap... and Others Don’t by James C. Collins. I think this interesting book is appropriate for this library. The book discusses the process, which starts with picking good people, looking carefully at reality, then checking what you can do well and stop doing what you don’t do well.”

Warren Buffett, the world’s wealthiest investor, has the following all-time favorite business books: The Intelligent Investor by former Columbia University professor Benjamin Graham, which Buffett described as “by far the best book about investing ever written,” Security Analysis (1940 edition) by Benjamin Graham, and Common Stocks and Uncommon Profits by Phil Fisher.

U-bix boss Bert Bravo’s 7 success secrets

Trained as a lawyer but excelling as a self-made entrepreneur, Atty. Edilberto “Bert” Bravo has built up U-Bix Corp. as a leader in printing solutions for 40 years and he is now developing a golf resort project near his wife’s hometown. His late mentor and business partner was Atty. Enrique “Ike” Belo, father of beauty business whiz Dr. Vicki Belo.

Bravo’s seven success secrets:

1. Focusing on trying to be the best.

2. Remember that the main focus of every business is the customers.

3. Take good care of your employees, pay them well and expect them to do their best.

4. You should always behave with integrity in order to gain the trust of employees, customers and bankers.

5. Work hard.

6. Study hard.

7. Be persistent, because sometimes the difference between success and failure is the lack of persistence.

Regine Velasquez & Martin Nievera on success & Philanthropy

Two of the country’s highest-earning singers, Regine Velasquez and Martin Nievera, are holding a Valentine’s concert on Feb. 14 at the Mall of Asia Arena. Not many people know that both musical artists are financially successful not only due to their talents, professionalism and investing mindset, but also due to their generous philanthropy.

One of Regine Velasquez’s civic causes is helping teachers though PLDT’s “Gabay Guro” project. Regine sang and recorded the Gabay Guro tribute song Believing In Me, written by the husband-and-wife tandem of Raul and Cacai Mitra, Regine’s brother-in-law and sister.  It was launched just before Christmas 2013 at the tribute event at SM Mall of Asia Arena, attended by about 30,000 teachers from all over the country. Gabay Guro chairman is 2013 Ten Outstanding Young Men (TOYM) awardee Chaye Cabal-Revilla of PLDT.

In late 2013, Ogie Alcasid and Regine Velasquez organized a charity auction selling luxury bags, designer footwear, gowns and jewelry for the benefit of disaster victims.

On Jan. 15, Regine and Martin joined Megastar Sharon Cuneta Pangilinan and others to stage a Yolanda victims’ fund-raising concert organized by Smart Communications Inc. (Smart), in partnership with Coca-Cola Bottlers Philippines.

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Free movies from Ateneo at Shangri-La Mall

Congratulations to Ateneo de Manila University’s award-winning Celadon organization and Ateneo’s Ricardo Leong Center for Chinese Studies (named in honor of Lance Gokongwei’s philanthropist father-in-law Ricardo Leong of Flexo Manufacturing) for organizing the 8th Spring Film Festival of exciting Chinese-language movies from Jan. 24 to Feb. 8 at Shangri-La Plaza Mall in Mandaluyong.

Admission is free of charge to the Spring Film Festival, due to generous corporate sponsorships from Credit Suisse of Switzerland, Chatime, Flexo and Shangri-La Properties. The Philippine STAR is one of the media partners. 

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Not a few Cebu business and political leaders are suggesting that whomever is finally chosen by government as the consortium to modernize and manage the Mactan Cebu International Airport — whether it’s Changi of Singapore with the Filinvest Group or GMR of India with Megawide — the winner should be made to pay for the small monetary difference of three percent between their financial offers. This is a practical win-win outcome that will make technical expertise and operational track records the main criteria for choosing the winner.

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