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'''''The Intelligent Investor''''' by [[Benjamin Graham]], first published in [[1949]], is a widely acclaimed book on [[investing]]. Famous investor and billionaire [[Warren Buffett]] describes it as "''by far the best book on investing ever written''"<ref>[[Warren Buffett]], The Intelligent Investor, book cover.</ref>, a sentiment echoed by other Graham disciples such as [[Irving Kahn]] and [[Walter Schloss]].
'''''The Intelligent Investor''''' by [[Benjamin Graham]], first published in [[1949]], is a widely acclaimed book on [[investing]]. Famous investor and billionaire [[Warren Buffett]] describes it as "''by far the best book on investing ever written''"<ref>[[Warren Buffett]], The Intelligent Investor, book cover.</ref>, a sentiment echoed by other Graham disciples such as [[Irving Kahn]] and [[Walter Schloss]].


==Contents==
== Mr. Market ==
⚫
Graham's favourite [[allegory]] is that of Mr. [[Market]], an obliging fellow who turns up every day at the [[share holder]]'s door offering to buy or sell his [[share]]s 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 to ignore him completely. Mr. Market doesn't mind this, and will be back the following day to quote another price. The point is that the investor should not regard the whims of Mr. Market as determining the value of the shares that 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 behaviour.

== Contents ==
* Preface to the Fourth Edition, by Warren E. Buffett
* Preface to the Fourth Edition, by Warren E. Buffett
* A Note About [[Benjamin Graham]], by Jason Zweig
* A Note About [[Benjamin Graham]], by Jason Zweig
Line 55: Line 58:
* Index
* Index


==Mr. Market==
== Editions ==
⚫
Graham's favourite [[allegory]] is that of Mr. [[Market]], an obliging fellow who turns up every day at the [[share holder]]'s door offering to buy or sell his [[share]]s 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 to ignore him completely. Mr. Market doesn't mind this, and will be back the following day to quote another price. The point is that the investor should not regard the whims of Mr. Market as determining the value of the shares that 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 behaviour.

==Publications==
*''The Intelligent Investor: re-issue of the 1949 edition'' Benjamin Graham. Collins, 2005. ISBN 0-06-075261-0
*''The Intelligent Investor: re-issue of the 1949 edition'' Benjamin Graham. Collins, 2005. ISBN 0-06-075261-0
*''The Intelligent Investor: revised 1972 edition'' Benjamin Graham, Jason Zweig. Collins, 2003. ISBN 0-06-055566-1
*''The Intelligent Investor: revised 1972 edition'' Benjamin Graham, Jason Zweig. Collins, 2003. ISBN 0-06-055566-1


==References==
== See also ==
⚫
<references/>

⚫
==External links==
⚫
* [http://www.ozres.com/books/Value_Investing.htm ''OzRes.com'' - Brief summary in progress]

==See also==
* [[Security Analysis]]
* [[Security Analysis]]
* [[Value Investing]]
* [[Value Investing]]
Line 74: Line 68:
* [[Warren Buffett]]
* [[Warren Buffett]]
* [[David Dodd]]
* [[David Dodd]]

== References ==
⚫
<references/>

⚫
== External links ==
⚫
* [http://www.ozres.com/books/Value_Investing.htm ''OzRes.com'' - Brief summary in progress]



[[Category:1949 books|Intelligent Investor, The]]
[[Category:1949 books|Intelligent Investor, The]]

Revision as of 20:33, 28 July 2007

The Intelligent Investor
revised edition, edited by Jason Zweig
AuthorBenjamin Graham
LanguageEnglish
SubjectFinance
PublisherCollins
Publication date
1949
Pages368
ISBNISBN 0-06-055566-1 Parameter error in {{ISBNT}}: invalid character

The Intelligent Investor by Benjamin Graham, first published in 1949, is a widely acclaimed book on investing. Famous investor and billionaire Warren Buffett describes it as "by far the best book on investing ever written"[1], a sentiment echoed by other Graham disciples such as Irving Kahn and Walter Schloss.

Mr. Market

Graham's favourite allegory is that of Mr. Market, an obliging fellow who turns up every day at the share holder'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 to ignore him completely. Mr. Market doesn't mind this, and will be back the following day to quote another price. The point is that the investor should not regard the whims of Mr. Market as determining the value of the shares that 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 behaviour.

Contents

  • Preface to the Fourth Edition, by Warren E. Buffett
  • A Note About Benjamin Graham, by Jason Zweig
  • Introduction: What This Book Expects to Accomplish
  • Commentary on Introduction
  1. Investment versus Speculation: Results to be Expected by the Intelligent Investor
  2. The Investor and Inflation
  3. A Century of Stock Market History: The Level of Stock Market Prices in Early 1972
  4. General Portfolio Policy: The Defensive Investor
  5. The Defensive Investor and Common Stocks
  6. Portfolio Policy for the Enterprising Investor: Negative Approach
  7. Portfolio Policy for the Enterprising Investor: The Positive Side
  8. The Investor and Market Fluctuations
  9. Investing in Investment Funds
  10. The Investor and His Advisers
  11. Security Analysis for the Lay Investor: General Approach
  12. Things to Consider About Per-Share Earnings
  13. A Comparison of Four Listed Companies
  14. Stock Selection for the Defensive Investor
  15. Stock Selection for the Enterprising Investor
  16. Convertible Issues and Warrants
  17. Four Extremely Instructive Case Histories
  18. A Comparison of Eight Pairs of Companies
  19. Shareholders and Managements: Dividend Policy
  20. "Margin of Safety" as the Central Concept of Investment
  • Postscript
  • Commentary on Postscript
  • Appendixes
  1. The Superinvestors of Graham-and-Doddsville
  2. Important Rules Concerning Taxability of Investment Income and Security Transactions (in 1972)
  3. The Basics of Investment Taxation (Updated as of 2003)
  4. The New Speculation in Common Stocks
  5. A Case History: Aetna Maintenance Co.
  6. Tax Accounting for NVF's Acquisition of Sharon Steel Shares
  7. Technological Companies as Investments
  • Endnotes
  • Acknowledgments
  • Index

Editions

  • The Intelligent Investor: re-issue of the 1949 edition Benjamin Graham. Collins, 2005. ISBN 0-06-075261-0
  • The Intelligent Investor: revised 1972 edition Benjamin Graham, Jason Zweig. Collins, 2003. ISBN 0-06-055566-1

See also

References

  1. ^ Warren Buffett, The Intelligent Investor, book cover.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=The_Intelligent_Investor&oldid=147720747"