The Intelligent Investor

Name: The Intelligent Investor
Author: Benjamin Graham
ISBN: 9780060555665

The Definitive Book on Value Investing

Written byBenjamin Graham

First published in 1949 and often called the investor's bible, Graham's book teaches a calm, careful approach to investing. The revised edition adds commentary by Jason Zweig that links Graham's lessons to modern markets.

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Published1949
GenrePersonal finance
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01Investing is not speculating
An investment protects your money and aims for a fair return after careful study. Anything else is speculation.
02Meet Mr. Market
The market is like a moody partner who offers silly prices on some days. You can use his moods, but you don't have to follow them.
03Keep a margin of safety
Buy only when the price is well below what something is worth, so mistakes and bad luck hurt less.
04Know which investor you are
A “defensive” investor wants a simple, low-effort plan. An “enterprising” one is ready to put in real time and research.
05Your behaviour matters most
Staying disciplined and not panicking is often more important than being clever.
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Investing is not speculating

An investment protects your money and aims for a fair return after careful study. Anything else is speculation. Pick one small way to put this into practice before tonight.

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