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The Intelligent Investor
Book

The Intelligent Investor

The Classic Text on Value Investing

Benjamin Graham
HarperBusiness, 2005
First Edition: 1949

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Editorial Rating

10

Recommendation

This classic book on investing belongs on every investor’s bookshelf. The principles that Benjamin Graham outlines are the very precepts that have guided such great investors as Warren Buffett and such mutual fund innovators as John Bogle, the noted Vanguard Group founder, who wrote this edition’s foreword. First published in 1949, Graham’s text shows a few signs of age, most notably in its discussion of interest rates, investment vehicles such as savings bonds and other time-sensitive subjects. However, those are minor issues. Most of Graham’s counsel on fundamental investing is timeless. getAbstract highly recommends this seminal book to all investors.

Take-Aways

  • Investors fall into two broad categories: the "defensive" and the "enterprising."
  • Speculation is not investing.
  • To succeed, enterprising investors must treat investing as they would treat any other business they enter.

About the Author

Benjamin Graham (1894-1976), the father of value investing, was also the author of Security Analysis and The Interpretation of Financial Statements.

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