Features of The Intelligent Investor Rev Ed PDF
This classic text is annotated to update Graham’s timeless wisdom for today’s market conditions.The Intelligent Investor Rev Ed PDF
The 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.
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Description of The Intelligent Investor Rev Ed PDF
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Benjamin Graham (/ɡræm/; born Benjamin Grossbaum; May 8, 1894 – September 21, 1976) was a British-born American economist and professional investor. Graham is considered the father of value investing, an investment approach he began teaching at Columbia Business School in 1928 and subsequently refined with David Dodd through various editions of their famous book Security Analysis. Graham had many disciples in his lifetime, a number of whom went on to become successful investors themselves. Graham’s most well-known disciples include Warren Buffett, William J. Ruane, Irving Kahn and Walter J. Schloss, among others. Buffett, who credits Graham as grounding him with a sound intellectual investment framework, described him as the second most influential person in his life after his own father. In fact, Graham had such an overwhelming influence on his students that two of them, Buffett and Kahn, named their sons Howard Graham Buffett and Thomas Graham Kahn after him. Graham also taught at the UCLA Anderson School of Management.
Bio from Wikipedia, the free encyclopedia.
Dimensions and Characteristics of The Intelligent Investor Rev Ed PDF
- Identification Number : 0060555661
- Publisher : Harper Business; Revised ed. edition (February 21, 2006)
- Language : English
- Paperback : 640 pages
- International Standard Book Number-10 : 9780060555665
- Item Weight : 1 pounds
- Dimensions : 5.31 x 1.6 x 8 inches
August 18, 2018
December 29, 2017
June 22, 2016
Book: “You either get the idea in the first five minutes, or you don’t get it at all”, commented Warren Buffet in the epilogue. I would add – you don’t necessarily need to read all 550 pages, but you must read through the idea of value investing – and it will change your way of looking at the world. I always felt confused and amazed by listening to all the ridiculous fuzz that comes from the Wall Street through TV and the internet. The book explains why.
Several rules of thumbs I noted into my keep:
– Investor buys the business [based on its price/value], speculator buys the stock [based on an absurd believe that he can foresee where the stock price will go].
– The best way to earn adequate return without any trouble whatsoever is to invest into cheap (low maintenance cost) indexes; use dollar averaging (buy every month instead of once at a random point of time) for smoothing the luck involved.
– For enterprising investor (willing to spend much more time), look for a diversified list of bargain issues (at least 30 issues, business values (i.e. net current asset and other related metrics) is below market cap)
– During the bubble, hot industries and companies are getting overpriced. That could only be financed from somewhere. Partially that money are coming from well established old economy companies that lose the appeal. Thus, invest in such old economy companies while bubble grows, as soon as the bubble burst – undervalued companies would rise back.
– Don’t ever buy IPOs! (See chapter for compelling arguments)
– Don’t consider companies that do not pay dividends. Dividends – money firm pays you for providing capital, they belong to you. They cut a piece for reinvestment – payout ratio. If firm doesn’t pay dividends – invest all into growth so you could profit later – that’s a speculation. Moreover stock price would be more volatile because it should now rely on future rather than current prospects.
– When gambling – bet on a single chip to maximize the payoff (roulette $1 to $35 payoff at 1/37 chance). When investing – diversify: each investment must have a margin of safety, the more diversified portfolio – the less likely that all will fail. You are a roulette house now who earns with each turn of the wheel.
May 2, 2017
So far into my career, this book has un-ironically been one the greatest investments I have made so far.
This is a great book for anyone who is interested in introducing themselves into the world of investing, or wants to hone their skills and better themselves. Although, while a great book I would not recommend it to anyone who doesn’t have the discipline to treat this book as a college textbook. Annotate, take notes, and create a guide. If you want to start taking investing seriously and want to begin practicing the discipline of self education, this is the book for you.The Intelligent Investor Rev Ed PDF
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