The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel
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- ISBN13: 9780060555665
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product Description
More than one million hardcovers sold
Now available for the first time in paperback!
The Classic Text Annotated to Update Graham’s Timeless Wisdom for Today’s Market Conditions
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 renovate 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 vital book you will ever read on how to reach your financial goals.
Amazon.com Review
Among 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 excellent 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 right 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 funds in bargains relative to current asset value. Graham coaches the investor to renovate a rational plot for buying stocks and bonds, and he argues that this plot must be a bulwark against emotional behavior that will permanently 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 wide 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 weight of Graham’s principles in light of 1990s and early twenty-first century market trends. –Patrick O’Kelley
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Why would anyone really 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 leader get a huge advance when the rest of the world sees their funds fall apart? It just isn’t honest!
Reader’s Rating: 1 / 5
Dull 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 but 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.
Reader’s Rating: 1 / 5
This publication arrived on time and in brilliant condition.
Reader’s Rating: 5 / 5
I agree with the additional reviewers that this book is an outstanding essay for persons who want to learn how to select stocks for a value portfolio. Where we differ is that for the predictable investor he does not have the resources to erect 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 establish 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 pointer and the Lehman Bond pointer respectively.
Or is it logical I question for you to judge 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 fantastic fund managers who will out perform in the future question 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?
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ht of current markets. Is it feasible for the average investor to beat the market?
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All aspects of Modern Portfolio Theory and passive (pointer) investing are clarified in a through and easily understood manner. The aspect I like most is that as well as a levelheaded theoretical foundation the book is very practical and shows the reader how to make (and more importantly) and manage over time a successful portfolio. This is a fantastic book- for the beginning investor, it’s a fantastic place to start and for the veteran investor there are many valuable suggestions.
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Reader’s Rating: 5 / 5
This is an brilliant text for anyone who wants to learn about investing. Fervently recommended!
Reader’s Rating: 5 / 5