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The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition)
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Benjamin Graham, Jason Zweig
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Product Details
- Author: Benjamin Graham, Jason Zweig
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- Binding: Paperback
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- Dewey Decimal Number: 332.678
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- EAN: 9780060555665
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- ISBN: 0060555661
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- Label: HarperBusiness Essentials
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- Manufacturer: HarperBusiness Essentials
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- Number of Items: 1
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- Number of Pages: 640
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- Product Group: Book
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- Publication Date: 2003-07-01
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- Publisher: HarperBusiness Essentials
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- Release Date: 2003-07-08
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- Studio: HarperBusiness Essentials
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- Title: The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition)
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Avg Customer Rating: 
Product Description: Among the library of investment books promising no-fail strategies for riches, Benjamin Graham's classic, The Intelligent Investor, offers no guarantees or gimmicks but overflows with the wisdom at the core of all good portfolio management. The hallmark of Graham's philosophy is not profit maximization but loss minimization. In this respect, The Intelligent Investor is a book for true investors, not speculators or day traders. He provides, "in a form suitable for the laymen, guidance in adoption and execution of an investment policy" (1). This policy is inherently for the longer term and requires a commitment of effort. Where the speculator follows market trends, the investor uses discipline, research, and his analytical ability to make unpopular but sound investments in bargains relative to current asset value. Graham coaches the investor to develop a rational plan for buying stocks and bonds, and he argues that this plan must be a bulwark against emotional behavior that will always be tempting during abrupt bull and bear markets. Since it was first published in 1949, Graham's investment guide has sold over a million copies and has been praised by such luminaries as Warren E. Buffet as "the best book on investing ever written." These accolades are well deserved. In its new form--with commentary on each chapter and extensive footnotes prepared by senior Money editor, Jason Zweig--the classic is now updated in light of changes in investment vehicles and market activities since 1972. What remains is a better book. Graham's sage advice, analytical guides, and cautionary tales are still valid for the contemporary investor, and Zweig's commentaries demonstrate the relevance of Graham's principles in light of 1990s and early twenty-first century market trends. --Patrick O'Kelley
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Customer Reviews
I should have read this book before investing
Simple like that: if you are a layman investor and don't want to lose a dime, stop your investment actions right now and start reading this book immediately.
I've started composing my stock portfolio a couple of months, before reading this book. At that time, I didn't know any of the Graham's wise lessons and took many decisions, some Graham-complying ones and some not. After six months, all bets on companies in a strong financial position, with a dividend payment history of more than 20 years, offering shares with a discount as consequence of the market fluctuation, and so on, proved to be right, even during crisis time.
A must read book for anyone aspiring to be a fraction of what a true investor is.
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Time to think seriously...
Whether you are an investor or speculator, this book provides more detailed information than any book I have read. To get the most from this book, one must be willing to devote time to absorb what the author is writing about. As it is a rather large book, it is easy to put aside; however if one is serious about the "market" the vital information is available in this book. I firmly believe if one will read and understand this information, your financial program will benefit. Sam Harris
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Simply The Best Book Ever Written About Stocks
Having being for some time a small investor with mixed results I was trying to learn more about the dynamics of the stock market. Benjamim Graham makes an excellent case for value investing which distinguishes true investors from speculators. It is as actual today (if not more then) as it was first written several decades ago. If you only read one book about stocks, be sure you pick this one. Highly recommended!
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Should be mandatory reading in schools.
I have been reading the intelligent investor for a couple of days now and just finished chapter 4. The book can seem a bit long but it is not. The arguments are easy to understand and comprehend. Graham argues that investment, as great as it could be, also contains significant risks and for long periods of times have not outperformed bonds when considering inflation. He thinks every intelligent person should have no more that 75% in equities in best of times and should have up to 75% in bonds in bad times. It is definitely a book worth reading not only because he reaches sensible conclusions and warns you not to blindly follow pundits but simply because it gives you overview on market performance by analyzing the historical data that should be mandatory knowledge for everyone serious about investing.
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The Intelligent VALUE Investor
This book has some great chapters that can be used to create a good stock screen to purchase value stocks. One point in this book that I found very valuable is this: No matter if you are in a bull market or not always keep at least 30% of your funds in cash or bonds. This at least saves some of your cash if the market turns around and heads lower. Think of the Nov 2007 to March 2008 downturn. Many people fully invested in at least stock founds in 401ks (that did not sell) lost up to 20%. How long will it take the old "buy and hold" to recover from that?
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