The Intelligent Investor: The Classic Text on Value Investing

Review The Intelligent Investor: The Classic Text on Value Investing

by BENJAMIN GRAHAM

The Intelligent Investor: The Classic Text on Value Investing

Description

Value Investing is a well-known investment philosophy by one Benjamin Graham, the renowned investment advisor of the 20th century. What the philosophy does is guard against substantial errors to ultimately help the simple investor develop long-term strategies for the success of long-term investments. 

Since 1949, the book “The Intelligent Investor” had made waves across the investing industry, garnering handsome reviews with equally-handsome opinions. Through Graham’s magnum opus, investors had made innovations in the way that they undertake deals. The market had seen the wisdom brought about by the philosophy which the book goes to discuss at length. To this effect, the book had gone on to become the Stock Market’s bible since its publication. 

The revised edition of “The Intelligent Investor” includes updated commentary by Jason Zweig. A financial journalist, Mr. Zweig, does well by integrating all the realities of the modern-day market. Through the illustration of such, he is able to apply Graham’s philosophy in everyday life, leading to a greater understanding of the investment advisor’s ideals.

About the Author

An American economist born in Great Britain, Benjamin Graham (born Benjamin Grossman), had made strides in investment analysis. He was a professional investor and dubbed as the father of value investing. This he taught at the Columbia Business School in 1928. Graham had gathered quite a discipleship through the likes of industry titans Warren Buffett, William J. Ruane, Irving Kahn, and Walter J. Schloss, to mention a few.

Table of Contents

  • Foreword by John C. Bogle
  • Introduction: What This Book Expects to Accomplish
    • Part I – General Approaches to Investment
      • I – What the Intelligent Investors Can Accomplish
      • II – The Investor and Stock-Market Fluctuations
      • III – The Investor and His Advisers
      • IV – General Portfolio Policy: The Defensive Investor
      • V – Portfolio Policy for the Aggressive Investor: Negative Approach
      • VI – Portfolio Policy for the Enterprising Investor: The Positive Side
    • Part II – Principles of Security Selection
      • VII – United States Saving Bonds: A Boon to Investors
      • VIII – Security Analysis for the Lay Investor: General Approach
      • IX – Stock Selection for the Defensive Investor
      • X – Stock Selection for the Enterprising Investor: The Appraisal Method
      • XI – Detection of Undervalued Issues by Security Analysis
      • XII – The Pattern of Change in Stock Earnings and Stock Prices
      • XIII – Group Studies of Earnings and Price Developments
    • Part III – The Investor as Business Owner
      • XIV – Stockholders and Managements
      • XV – A Study of Stockholder-Management Relations in Two Industries
    • Part IV – Conclusions
      • XIV – Stockholders and Management
      • XV – A study of Stockholder-Management Relations in Two Industries
      • XVI – “Margin of Safety” as the Central Concept of Investment
    • Appendix: Buying and Selling by “Central Value” Method
  • Index
  • About Benjamin Graham
  • About John C. Bogle

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