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 every 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
Amazing book, easy to read and understand. Simple but effective conceptsPublished 2 days ago by SimbA
This is the definitive book on value investing, and it is the only way I have found to make money in the stock market. Read morePublished 1 month ago by Excimer
It's more of a life lesson by James Buffett rather than providing real insight and expertise on his choices which made him a billionaire. Read morePublished 1 month ago by Abdul Khan
As a pure beginner in matter of investing, I must say that this book was very helpfull. I adored the fact that the chapter are commented by Jason Zweig which made the lecture a lot... Read morePublished 3 months ago by Julien
Even if some macro parts of this book are outdated now, the principles of value investing explained in this book are timeless. It's a good complement to the Security Analysis book. Read morePublished 3 months ago by JF B