The Intelligent Investor Rev Ed.

this is considered by many to be the 'bible' when it comes to investing. after reading it - it's easy to understand why.i originally started reading this a few years ago, but quickly realised i was in way over my head - if you are new to value investing i highly recommend reading easier introductions such as the "little book" series, Lynch's - pOne Up on Wall Street (A Fireside book) , Common Stocks and Uncommon Profits and Other Writings (Wiley Investment Classics), The Dhandho Investor: The Low Risk Value Method to High Returns,You Can be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits first. these book will act as a great primer before reading this.since i reading the above books, i decided to give intelligent investor another go. a lot of people out there feel that this book is past it's sell by date as it was originally written in the 1930s - i p[ersonally feel that what is written is just as valuable today as it was back then - the underlying message is that you should only invest in a stock or a bond when the price is well below it's value. this will force you to avoid bubbles such as the internet boom, and also avoid with ease dangerously dodgy companies such as enron, worldcom etc. basically common sense investing. another valuable lesson that graham teaches is that you should split your investments - 50% stocks + 50% bonds and cash - this makes you a defensive investor so that you should be able to ride out the storms and still make a return on you investments...parts of the book are heavy reading but zweig's commentary does well to explain things and tells you what is out of date - such as railway bonds, but also gives the reader another perspective on what graham writes. also there is a foreword by buffet and a detailed epilogue by buffet as well.this is a truly fantastic book which will help you become a better investor. i can't rate it highly enough...

"The Intelligent Investor: The Definitive Book on Value Investing" by Benjamin Graham is an absolute must-read for anyone serious about investing. As a classic in the field of value investing, this book offers timeless wisdom and practical advice that remains relevant in today's market. Graham's thorough analysis and clear explanations make complex concepts accessible, even for those new to investing.One of the standout aspects of this book is its emphasis on the principles of value investing, teaching readers how to analyze stocks, understand market behavior, and make informed decisions. Graham's concept of "margin of safety" is a cornerstone of his strategy, and he articulates it with clarity and precision.The updated commentary by Jason Zweig adds valuable insights, bridging Graham's original ideas with contemporary examples and market conditions. This makes the book not only a historical masterpiece but also a practical guide for modern investors.What sets "The Intelligent Investor" apart is its focus on long-term strategies and disciplined investment practices. Graham's wisdom encourages investors to remain patient and rational, avoiding the pitfalls of emotional and speculative investing.Overall, "The Intelligent Investor" is an indispensable resource for anyone looking to build a solid foundation in value investing. Its profound insights, practical advice, and timeless relevance make it a true masterpiece in the world of finance. Highly recommended for both novice and experienced investors!

Incredibly well thought out, Graham expresses his ideas with the regular retail investor in mind coherently, succinctly and backed up with a wealth of relevant statical data. I also feel like this is Graham's 'diss track' to institutional 'experts' who claim they have the next magic formula for beating the market past, present and future. The only thing certain in the stock market is the uncertainty of the stock market - there are no get rich quick schemes here! The book does offer however the detailed recipe for the mind set required to servive given any market condition.

Definitely a useful guide for those wanting to learn about investment, but its main practical ideas could be summarized in a handful of pages. The examples may be outdated, but the ideas they convey still seem relevant and applicable to me, obviously with some common sense adjustments.I found the structure of the chapters of the original text pretty vague, which made it difficult to remember the main ideas.Also, I found some of the terms and explanations used by Graham difficult to understand, even with a background in finance. Some of them are better explained in Zweig's comments, but not all.Zweig's commentary does give added value to the book, although he illustrates pretty much every idea with a dotcom stock that lost almost all of its value after the bubble burst, which becomes boring after a while.For me, the best parts of the book were definitely the chapters that Buffett highlights in his foreword, plus his essay at the end.All in all, a good read for those who want to get an investor's mindset, but instead of 600+ pages it could have been condensed into max. 200 without losing any of the ideas.

*The Intelligent Investor: The Definitive Book on Value Investing* by Benjamin Graham is a timeless classic and an essential read for anyone serious about investing. First published in 1949, its principles remain as relevant today as ever, providing a solid foundation for building long-term wealth through value investing.Graham, often regarded as the father of value investing, emphasizes a disciplined, rational approach to investing—focusing on fundamental analysis, patience, and avoiding speculation. His wisdom helps investors navigate market volatility and make sound financial decisions based on intrinsic value rather than short-term trends. The book also introduces the concept of *Mr. Market*, a brilliant analogy that teaches investors how to take advantage of market fluctuations rather than being controlled by them.While some sections are technical, Jason Zweig’s commentary in the updated edition makes the concepts more accessible, bridging Graham’s ideas with modern market conditions. Whether you're a beginner or an experienced investor, *The Intelligent Investor* is an invaluable guide that instills the principles of risk management, rational decision-making, and long-term financial success.

Readers should be aware that this book might look as if it belongs in a museum. Benjamin Graham died in 1976 so his most recent advice on investing in stocks is half a century old now. Added to that, the appendix by Warren Buffett dates from 1984 and the commentary by Jason Zweig is from 2003. However, good advice is usually timeless and the judicious reader will pick his or her way through the references to the dot.com bubble of 1999 and the stagflation of the early 1970s and tease out the nuggets of gold. There are plenty of them.My motivation for reading this book was to find a way to boost my rather meagre pension fund before it’s too late. Having said that, the advice given here (more by Jason Zweig than by the author) is that if you don’t have the time or inclination to read annual reports and spend your leisure time studying graphs and tables of data, you’re better off putting your money in an investment fund, preferably one that tracks a major stock market index. Over the long haul, very few individual investors – or even actively managed investment funds – outperform those stock indices or the passive funds that track them. The exceptions are people like Warren Buffett, who regards Benjamin Graham as his guru.Fortunately, it is probably easier to find financial information now than it was in Graham’s day. Rather than plough through dozens of annual reports you can access information on the web, open an account with an online broker or subscribe to a share tipping service. Doing all three will give you a tsunami of data that you then have to swim through to find suitable investment opportunities. My advice would be to use all three and also use a certain website that gives the Graham Number for a wide range of stocks – I’ve looked at US and UK companies. The Graham Number is a tool that can help you identify whether a stock is good value or not. However, it should be used alongside Graham’s golden rules for investing. There are two sets of rules: one for defensive (i.e. cautious) investors; one for enterprising investors (i.e. those with a higher risk appetite). If Warren Buffett says the rules are worth following, they probably are.

The book takes too long to say what it wants to. Everyone is at a different stage of investing and has different knowledge. Essentially, recommendations are: buy only what you understand to reduce risk of losses - you see NatWest or Aviva every day for example, so consider stocks like these, which are well established, are very unlikely to fold suddenly and importantly pay a decent dividend. Secondly, when you invest in a stock and its price falls (which at some point it will), don’t sell, instead, if the stock is still as good as it was when you bought it, buy more. Compound interest is incredibly profitable, but it will take around 8 years to really kick in. Plenty of variables and if’s and but’s within above and of course, this is not investment advice. Obviously, the book focuses on America, where the author lives, but same principles can be applied worldwide, hence Uk examples above.

i would acually give this 700 page tome 4 and a half stars, but there isnt a button for that.this book is a very useable, inspiring and thought provoking investment guide. it was produced out of half a centuarys worth of trial, error and sucess by an unquestionably cleaver man. should someone interested in stocks read it? yes, proably.for a book claiming to be for the 'layman' this book doesent give some of its secrets up easily. now im not an idiot (ha ha) but there were places in the book where i was reading the words but could come up with no meaning for the sentences. but i found it got easier to understand as i went on, perhaps it just takes a while to get used to grahams style. some, but not all, of the tables have been described by other reviewers a 'user unfriendly'. i wouldnt disagree.enough of the bad, whats good?graham really knew how to asses the financial health of a buisness and how to calculate its value. his 'value' and 'margin of safty' ideas are common sence writ large. his phlegmatic approach helps the investor to keep an even keel whilst navigating the stormy seas of the stock markets waves of irration optimism and pessimism.some reviewers have criticised jason zwiegs footnotes and chapter summeries, but for me they were exelent and nessary. i can only guess that critics object to having new text interpolated in to what they, understandably, consider to be a perfect and complet work. but zweig helps to make to book more current and fills in a few areas where graham gave a less than satisfactory explination.also one last thing, warren buffets little story at the end is brilliantly amusing and also very encouraging.in sum, this book is full of gold; but be perpared to dig for it.

When I received the book, the package was not damaged but the book was already bent (as shown in the photo). I am pretty disappointed with this delivery :(

Found it heavy read,but real details. Do that to me

Binding on the book was horrendous couldn't flip between pages because they were all different sizes and came damaged

Hoy día, cuando ver una empresa por debajo de un PE por debajo de 20 es algo raro, y el PE del SP500 esta alrededor de 40, el del Nasdaq a 150. Uno se pregunta si no es mejor tirar este libro a la basura y comprar unas opciones del Nasdaq a 25.000 para fin de año y disfrutar de que estarán In The Money para Diciembre.Aun así, como Benjamin dice en su propio libro, quizas esta epoca de desenfreno dure mas, y para entonces cuando todo esté otra vez ""barato"" este libro sea mas util que nunca. Por otra parte es muy interesante el saber que tipo de empresas estaban de moda hace casi 100 años.

Le livre de Benjamin Graham est une pièce de référence qui a permis à de nombreux investisseurs de débuter dans la gestion de fond d'investissement en évitant les erreurs commises par le passé. Ce livre se lit un peu comme on déguste une friandise et chaque chapitre aborde un principe ou une stratégie appliquée en finance. Le livre datant du début des années 70 chaque chapitre est suivi d'un commentaire par Jason Zweig qui replace le chapitre dans le contexte actuel en montrant les développements qui sont survenus au cour des 40 dernières années. Un ouvrage très complet qui défend les principes de la gestion passive et de l'investissement par opposition à la spéculation. Si l'on ne lit qu'un ouvrage avant de débuter dans la gestion d'actifs financiers c'est celui ci qu'il faut choisir car finalement de nombreux autres ouvrages s'en inspirent.