The Intelligent Investor by Benjamin Grahim 9780060555665 0060555661

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The Intelligent Investor by Benjamin Graham, first published in 1949, is a widely acclaimed book on value investing.

The Intelligent Investor is based on value investing, an investment approach Graham began teaching at Columbia Business School in 1928 and subsequently refined with David Dodd.[1] This sentiment was echoed by other Graham disciples such as Irving Kahn and Walter Schloss.

The Intelligent Investor also marks a significant deviation to stock selection from Graham's earlier works, such as Security Analysis. He explained the change as:

The thing that I have been emphasizing in my own work for the last few years has been the group approach. To try to buy groups of stocks that meet some simple criterion for being undervalued -- regardless of the industry and with very little attention to the individual company... I found the results were very good for 50 years. They certainly did twice as well as the Dow Jones. And so my enthusiasm has been transferred from the selective to the group approach.[2]

Graham's favorite allegory is that of Mr. Market, meant to personify the irrationality and group-think of the stock market. Mr. Market is an obliging fellow who turns up every day at the shareholder's door offering to buy or sell his shares at a different price. Often, the price quoted by Mr. Market seems plausible, but sometimes it is ridiculous. The investor is free to either agree with his quoted price and trade with him, or ignore him completely. Mr. Market doesn't mind this, and will be back the following day to quote another price.

The point of this anecdote is that the investor should not regard the whims of Mr. Market as a determining factor in the value of the shares the investor owns. He should profit from market folly rather than participate in it. The investor is advised to concentrate on the real life performance of his companies and receiving dividends, rather than be too concerned with Mr. Market's often irrational behavior.

Since the work was published in 1949 Graham revised it several times, most recently in 1971–72. This was published in 1973 as the "Fourth Revised Edition" ISBN 0-06-015547-7, and it included a preface and appendices by Warren Buffett. Graham died in 1976. Commentaries and new footnotes were added to the fourth edition by Jason Zweig, and this new revision was published in 2003.[3]

  • The Intelligent Investor (Re-issue of the 1949 edition) by Benjamin Graham. Collins, 2005, 269 pages. ISBN 0-06-075261-0.
  • The Intelligent Investor by Benjamin Graham, 1949, 1954, 1959, 1965(Library of Congress Catalog Card Number 64-7552) by Harper & Row Publishers Inc, New York.
  • The Intelligent Investor (Revised 1973 edition) by Benjamin Graham and Jason Zweig. HarperBusiness Essentials, 2003, 640 pages. ISBN 0-06-055566-1.

An unabridged audio version of the Revised Edition of The Intelligent Investor was also released on July 7, 2015.[4]

  • ISBN-13: 9780060555665
  • ISBN-10: 0060555661
  • Language- English
5 out of 5 10 customer reviews
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Sherelle Montague
4 months ago

Splendid ... This book is amazing. It is definitely a must read for investors in stock markets. It is not only a "book", it is a "reference". Recommended!!

4 months ago

A must read for anyone considering actively managing their own investment portfolio. Out and out the best book I've ever read on investing. I highly recommend !! speedy delivery from Booksgoat

Peter Smith
4 months ago

This book really is a mirror to find the kind of investor we are; along with comprehensive solutions to serve our individual requirements, as it has been wisely stated in the book- “It requires a great deal of boldness and a great deal of caution to make a great fortune; and when you have got it, it requires ten times as much wit to keep it.” Must read :)

Daniel Olshansky
4 months ago

you know This book is recommended by Warren Buffett. So, u can totally understand that how much important this book is for the one who want to start a business. Worth reading. Notably swift deliver A+++ Booksgoat Recommended!!

Jenny Baker
4 months ago

Best book I've found on value investing! Everthing you need to invest properly! This book contains everything you need to make the right financial decisions and be sucsessful! This book has helped me to expand my investment strategies and take a new look at my financial decisions and where my money is going. I strongly recommend this book for anyone who wants to learn about investment strategies and how you can invest your hard earned dollars properly for a high return! 5 stars

4 months ago

A great perspective on investing for the long term. Swift delivery from Booksgoat Recommended."

Christiaan Quyn
4 months ago

Excellent book for value investing. I have read many of the chapters over and over. Recommended as the first book to read for stock investing

4 months ago

I really do recommend this book for the great Benjamin Graham Incredible!!

4 months ago

One of the best books on value investing. Must read for anyone interested in financial markets.

Lucia Cerchlanova
4 months ago

By far the best book on investing ever written - Warren Buffett. Quick delivery Thanks!!

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