The Intelligent Investor REV Ed.: The Definitive Book on Value Investing (Revised) Paperback – 21 Feb. 2006

this is considered by many to be the 'bible' when it comes to investing. after reading it - it's easy to understand why.i originally started reading this a few years ago, but quickly realised i was in way over my head - if you are new to value investing i highly recommend reading easier introductions such as the "little book" series, Lynch's - pOne Up on Wall Street (A Fireside book) , Common Stocks and Uncommon Profits and Other Writings (Wiley Investment Classics), The Dhandho Investor: The Low Risk Value Method to High Returns,You Can be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits first. these book will act as a great primer before reading this.since i reading the above books, i decided to give intelligent investor another go. a lot of people out there feel that this book is past it's sell by date as it was originally written in the 1930s - i p[ersonally feel that what is written is just as valuable today as it was back then - the underlying message is that you should only invest in a stock or a bond when the price is well below it's value. this will force you to avoid bubbles such as the internet boom, and also avoid with ease dangerously dodgy companies such as enron, worldcom etc. basically common sense investing. another valuable lesson that graham teaches is that you should split your investments - 50% stocks + 50% bonds and cash - this makes you a defensive investor so that you should be able to ride out the storms and still make a return on you investments...parts of the book are heavy reading but zweig's commentary does well to explain things and tells you what is out of date - such as railway bonds, but also gives the reader another perspective on what graham writes. also there is a foreword by buffet and a detailed epilogue by buffet as well.this is a truly fantastic book which will help you become a better investor. i can't rate it highly enough...

Great book to read and understand. I read it in my lunch hours in work while also playing on the stock market. Higley recommended

*The Intelligent Investor: The Definitive Book on Value Investing* by Benjamin Graham is a timeless classic and an essential read for anyone serious about investing. First published in 1949, its principles remain as relevant today as ever, providing a solid foundation for building long-term wealth through value investing.Graham, often regarded as the father of value investing, emphasizes a disciplined, rational approach to investing—focusing on fundamental analysis, patience, and avoiding speculation. His wisdom helps investors navigate market volatility and make sound financial decisions based on intrinsic value rather than short-term trends. The book also introduces the concept of *Mr. Market*, a brilliant analogy that teaches investors how to take advantage of market fluctuations rather than being controlled by them.While some sections are technical, Jason Zweig’s commentary in the updated edition makes the concepts more accessible, bridging Graham’s ideas with modern market conditions. Whether you're a beginner or an experienced investor, *The Intelligent Investor* is an invaluable guide that instills the principles of risk management, rational decision-making, and long-term financial success.

Definitely a useful guide for those wanting to learn about investment, but its main practical ideas could be summarized in a handful of pages. The examples may be outdated, but the ideas they convey still seem relevant and applicable to me, obviously with some common sense adjustments.I found the structure of the chapters of the original text pretty vague, which made it difficult to remember the main ideas.Also, I found some of the terms and explanations used by Graham difficult to understand, even with a background in finance. Some of them are better explained in Zweig's comments, but not all.Zweig's commentary does give added value to the book, although he illustrates pretty much every idea with a dotcom stock that lost almost all of its value after the bubble burst, which becomes boring after a while.For me, the best parts of the book were definitely the chapters that Buffett highlights in his foreword, plus his essay at the end.All in all, a good read for those who want to get an investor's mindset, but instead of 600+ pages it could have been condensed into max. 200 without losing any of the ideas.