The Intelligent Investor: The Definitive Book on Value Investing Paperback – Feb 21 2006
Frequently Bought Together
Customers Who Bought This Item Also Bought
No Kindle device required. Download one of the Free Kindle apps to start reading Kindle books on your smartphone, tablet, and computer.
Getting the download link through email is temporarily not available. Please check back later.
To get the free app, enter your mobile phone number.
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 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
“By far the best book on investing ever written.” (Warren Buffett)
“If you read just one book on investing during your lifetime, make it this one” (Fortune)
“The wider Mr. Graham’s gospel spreads, the more fairly the market will deal with its public.” (Barron's)
What Other Items Do Customers Buy After Viewing This Item?
Top Customer Reviews
The book is boring and you can't start read that book as your first book about investment in stock market, you will not absorb or feel the words.
If you are not financially literate or you are trying practice trading, that book not for you.
Start by rich dad poor dad, by Kiyosaki, or finance for dummies I think more useful
The ideas in this book are encapsulated in just a few pages in Buffett's 1984 essay, The Superinvestors of Graham-and-Doddsville. I stumbled across Buffett's essay online and it transformed my investing "life." That led me to Graham's book. This edition contains Buffett's essay in the appendix.
Insofar is Jason Zweig's commentary is concerned, I don't agree that the commentary does not add value to the discussion. The shift in expository style (and typeface) is at times jarring, but Zweig, writing after the tech wreck, draws useful parallels to the contemporary stock market. I think his material also helps sell the book to the younger generation (i.e. people in their early 20's) who, by virtue of their very youth, have absolutely the most to gain from Graham's approach to investing.
To a 20-something man or woman wanting to secure their financial future I would say this: it was figured out 65 years ago. The best book on the subject was originally written in 1949 and last revised in 1973, shortly before the author died. Nothing has exceeded it, before or since. The 3rd richest man in the world, who was the author's student, summarized his ideas 30 years ago.
Let me begin then with an observation. Nowadays, just about everybody who has worked a day job knows about putting their money in the stock market. There are some who does it out of greed, some out of fear, but the vast majority does it just because everybody else is doing the same thing! It appears to me that only a tiny group of minorities are really making intelligent investment decision. What about the rest? They buy/sell when they feel like it. Emotion is their chief investment advisor, and they listen to it religiously. Is it any wonder that the financial market behaves the way it does? Good news, because one will learn from Graham that the sillier the market’s behavior, the greater the opportunity for the business-life investor.
Graham begins by laying out the foundational definition of investment versus speculation. “An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.Read more ›
I have novels in similar construct before and they tend to fall apart after couple of years. I guess I will buy another book if that does happen.
The content of the book of course is top notch, it feels like a nice conversation with Ben himself (along with little insert from his students). I have the PDF version of the book a year ago, been buying and testing many different stocks based on Graham teaching and have return anywhere from 30 to 150 percent (he is really conservative on his stock selection, but the main thing is mentality and not to sway by the market). I guess most of fund managers on wall street are too impatient for this type of investing techniques.
I am thinking about not making contribution to RRSP funds in the future, and just self direct TFSA trading all the way until I retire.
Most recent customer reviews
so far it's been really helpful but only read 145 pages so farPublished 14 days ago by Amazon Customer
I wasnt to impressed with this and the subjects were sometimes hard to follow.Published 1 month ago by Michel
It is a very good book. It explain how to invest properly and that you should be very patient as a defensive investor. There is a lot to learn in this book.Published 2 months ago by Alexandre
Chapter 8 commentary was offensive.. The whole metaphor was off and to refer to his fictitious manic depressive character as a lunatic was classless regardless of the year it was... Read morePublished 2 months ago by b00kll0vr
Look for similar items by category
- Books > Business & Investing > Finance
- Books > Business & Investing > Investing > Introduction
- Books > Business & Investing > Personal Finance
- Books > Business & Investing > Popular Economics
- Books > Professional & Technical > Accounting & Finance > Finance
- Books > Textbooks > Business & Finance > Economics
- Books > Textbooks > Business & Finance > Finance
- Books > Textbooks > Business & Finance > Investments & Securities