The Intelligent Investor

THE INTELLIGENT INVESTOR: The Classic Text on Value Investing

by Benjamin Graham

The concept of value investing—a disciplined, rational investment approach based on rigorous analyses of a company’s intrinsic value instead of market speculation—was made popular by Warren Buffett. However, most people don’t know that Buffett learned those ideas from his former professor Benjamin Graham. This book is considered a bible in the world of value investing—it lays out the principles, approach, and practices in value investing, supported by historical data/analyses and detailed case studies.

In this summary, you’ll learn: 

• The stock market’s history over 100 years, with key lessons on market psychology, stock price movements, and how to maximize returns over the long run.

• The core principles and concepts of value investing, including: real returns after inflation, the difference between investment and speculation, and why/how to mitigate emotional impulses that could lead to bad investments.

• The 2 main investment pathways (Defensive vs Enterprising), and the strategies/practices associated with each.

• How to analyze securities (stocks, bonds and derivatives) and other investment insights, such as: considerations for other financial tools, engaging professional advice, and dividend policy.

Who should read this:
• Investors, financial advisors and planners, and professionals in the finance and investment industry.
• Anyone who wishes to improve your financial intelligence or learn about investment and financial markets.