The Intelligent Investor Rev Ed.
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The Intelligent Investor
The Classic Text Annotated to Update Graham's Undying Knowledge for Lately's Market Stipulations
The biggest investment advisor of the twentieth century, Benjamin Graham taught and impressed other folks around the world. Graham's philosophy of "worth making an investment" - which shields investors from substantial error and teaches them to develop long term methods - has made The Intelligent Investor the stock market Bible ever since its unique publication in 1949.
Over the years, market developments have proven the Knowledge of Graham's methods. At the same time as preserving the integrity of Graham's unique text, this revised edition comprises up to date remark by noted monetary journalist Jason Zweig, whose standpoint comprises the realities of Lately's market, attracts parallels between Graham's examples and Lately's monetary headlines, and offers listeners a more thorough working out of easy methods to practice Graham's principles.
Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is a very powerful book you'll ever pay attention on how to achieve your monetary goals.
Review: One of the best books on investing ever written
This is a must read for any person serious about investing (ie not gambling) in the stock market. The book is rather easy to read. Graham was an investor but also a teacher (at Columbia). He has a good balance between technical yet simple explanation. If you know absolutely nothing about the stock market and financials, you may still find it a bit obscure at time, but you should probably not invest directly anyway (at least not right away). For everyone else, read it.
Yes the latest edition was written in 1972. It is amusing at time to see the evolution. But actually this evolution is also part of what you learn by reading the book. You do see that some things never change (like valuing a company!), and others do change quite a bit. it gives you a nice perspective. Now the intersting part of the book is to understand the logic of Graham, less its conclusions. The conclusions date a bit. Graham used to work at a time when most corporations where industrial companies, when nowadays services are dominant for example. So take graham conclucions with a grain of salt. But do read in depth and try to understand his logic.
Value investing won't make you rich overnight. But reasonnably well done, it will avoid having you lose money, and can even open you the doors of year by year over-performance in the market. Warren Buffett and several other successfull investors have followed the approach of Graham. But as they all say, when you first read about value investing, you either understand it right away, or you never will. But trust my 15 year of investing on the stock market, you're better of understanding the value of value investing. And this book is the key to it.
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