The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel
December 29th, 2009
- ISBN13: 9780060555665
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product DescriptionMore than one million hardcovers soldNow available for the first time in paperback!The Classic Text Annotated to Update Graham’s Timeless Wisdom for Today’s Market ConditionsThe greatest investment advisor of the twentieth century, Benjamin Graham taught and inspired people worldwide. Graham’s philosophy of “value investing” — which shields investors from substantial error and teaches them to develop long-term strategies — has made The Intelligent Investor the stock market bible ever since its original publication in 1949. Over the years, market developments have proven the wisdom of Graham’s strategies. While preserving the integrity of Graham’s original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today’s market, draws parallels between Graham’s examples and today’s financial headlines, and gives readers a more thorough understanding of how to apply Graham’s principles. Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals. Amazon. com ReviewAmong 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
The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel
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5 Responses to “The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel”
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Why would anyone actually spend money on something like this is my question. We’ve heard it all before, and our portfolios have collapsed along with everyone else’s. Why does this author get a big advance when the rest of the world sees their investments fall apart? It just isn’t fair!
Rating: 1 / 5
Boring and conservative was too generous in my opinion. If this is the sort of book for you, then save your money, give it to a fund manager and go find some grass to watch growing. It is however safe and conservative, but you’re not going to beat the market. If you’ve got the urge to do it yourself, start with Willian J ONeal or the interviews with top traders series.
Rating: 1 / 5
This publication arrived on time and in excellent condition.
Rating: 5 / 5
I agree with the other reviewers that this book is an outstanding essay for those who want to learn how to select stocks for a value portfolio. Where we differ is that for the typical investor he does not have the resources to build a properly diversified portfolio- either financial or mental resources. Value stocks do provide returns in excess of broad market returns but in order to have adequate diversification you must assemble several hundred issues well beyond the resources of the average investor. Further one must have the time and skill to evaluate several thousand issues.
Consider the following in light of current market competition to gain an advantage over ptofessional investors: Piscaqua Research in a study covering the period 1987-96 found that only 10 out of 145 major pension funds, or just seven percent, out performed a portfolio consisting of a simple 60%/40% mix of the S&P 500 index and the Lehman Bond index respectively.
Or is it logical I ask for you to believe that you can predict which actively managed funds will out perform, or are you overconfident of your skills? If you are trying to find the great fund managers who will out perform in the future ask yourself: what am I going to do differently in terms of identifying the future winning fund managers, than did the pension plans and their advisors? And if you are not going to something different what logic is there in playing a game at which others with superior resources have consistently failed?
If you a really serious in finding an investment technique that will provide you with reasonable return with less risk I suggest the following little book. This is a little book that I have written and contains the essential of how to invest. Just click on the title to find the book.
ht of current markets. Is it feasible for the average investor to beat the market?
I can offer a solution to this problem. I want to recommend for you a book titled How to Make Money in the Stock Market-Buy 2,500 different stocks for $1000 – Pay no Commission This book is a must for those wanting to find out about indexing (passive investing) and why it is the superior method for the small investor (and big one too). This book is an outstanding guide to personal investing. It will be useful to all investors from novices to highly the highly experienced. This book prepares the reader to approach investing from the standpoint of the underlying science. It is the antithesis of a ‘get rich quick scheme’.
All aspects of Modern Portfolio Theory and passive (index) investing are explained in a through and easily understood manner. The aspect I like most is that as well as a solid theoretical foundation the book is very practical and shows the reader how to create (and more importantly) and manage over time a successful portfolio. This is a great book- for the beginning investor, it’s a great place to start and for the experienced investor there are many valuable suggestions.
How to Make Money in the Stock Market-Buy 2,500 Different Stocks-Pay no Commission
Rating: 5 / 5
This is an excellent text for anyone who wants to learn about investing. Strongly recommended!
Rating: 5 / 5