I have just read and am now re-reading a book written by John Brooks (1920-1993), Business Adventures: Twelve Classic Tales from the World of Wall Street, prior to reviewing it for various Amazon websites as well as my own.

As you may not know already, this collection of essays for The New Yorker was first published in 1969 by Weybright and Talley. It has been, until now, out-of-print, and would have almost certainly continued to be had Bill Gates not asked Warren Buffett, about 20 years ago, to identify his favorite book. His response was Business Adventures and he sent his personal copy to him. When Gates discussed this incident in a Wall Street Journal article (July 11, 2014), the book immediately became the #1 bestseller pre-publication of the latest edition. Another lemming stampede began and continues now.

I am reminded of previous stampedes after Oprah Winfrey identified a favorite book. Each became a bestseller or, in the case of novels such as East of Eden, became a bestseller again. I do not share her high regard for Steinbeck’s mediocre novel. The film based on it is far better than the novel in all respects, as is also true of the film based on The Grapes of Wrath. How to explain this phenomenon?

There are several possibilities. Here’s what I think. Many (if not most) people give much greater value to appearances than to the given reality. To become a member of Oprah’s Book Club does not require you to read any of the books she selects. All you have to do is purchase copies and display them prominently. Others will “fooled” and incorrectly assume that (a) you have read them and (b) you are an avid reader. Only you will know the truth unless someone starts asking specific questions.

The same can be said of those who purchase a copy of Business Adventures. They don’t have to read it. Perhaps someone can explain what the book’s about and maybe even why it’s important, if not significant. (Its significance has nothing to do with either Buffett or Gates.) In that event, you don’t even have to purchase a copy, much less read it. Let someone else read it for you. Once again, only you will know the truth. In the event someone who really has read it starts asking specific questions, you’ll have at least something to say.

Let the stampede continue. If you miss this one, don’t worry about it. There will be another coming along soon. There always is.