The Intelligent Investor: The Classic Text on Value Investing

The Intelligent Investor: The Classic Text on Value Investing

Review The Intelligent Investor: The Classic Text on Value Investing

by BENJAMIN GRAHAM

Description

Written by one of one considered as the greatest investment genius of the twentieth century, Benjamin Graham’s “The Intelligent Investor” introduces the reader into the realm of investing. “The Intelligent Investor” also highlights Graham’s “value investment,” which would prevent the occurrence of investing mistakes that most novice investors do and provides methods and instructions on how to avoid such errors as they develop their strategies.  This revised HarperBusiness Essentials edition of “The Intelligent Investor” contains updated commentary by Jason Zweig, a financial journalist.

About the Author

Benjamin Graham 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 father. 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.

Table of Contents

  • Foreword by John C. Bogle
  • Introduction: What This Book Expects to Accomplish
    • Part I – General Approaches to Investment
      • I – What the Intelligent Investors Can Accomplish
      • II – The Investor and Stock-Market Fluctuations
      • III – The Investor and His Advisers
      • IV – General Portfolio Policy: The Defensive Investor
      • V – Portfolio Policy for the Aggressive Investor: Negative Approach
      • VI – Portfolio Policy for the Enterprising Investor: The Positive Side
    • Part II – Principles of Security Selection
      • VII – United States Saving Bonds: A Boon to Investors
      • VIII – Security Analysis for the Lay Investor: General Approach
      • IX – Stock Selection for the Defensive Investor
      • X – Stock Selection for the Enterprising Investor: The Appraisal Method
      • XI – Detection of Undervalued Issues by Security Analysis
      • XII – The Pattern of Change in Stock Earnings and Stock Prices
      • XIII – Group Studies of Earnings and Price Developments
    • Part III – The Investor as Business Owner
      • XIV – Stockholders and Managements
      • XV – A Study of Stockholder-Management Relations in Two Industries
    • Part IV – Conclusions
      • XIV – Stockholders and Management
      • XV – A study of Stockholder-Management Relations in Two Industries
      • XVI – “Margin of Safety” as the Central Concept of Investment
    • Appendix: Buying and Selling by “Central Value” Method
  • Index
  • About Benjamin Graham
  • About John C. Bogle