The Intelligent Investor in english by-Benjamin Graham Revised Edition

This book is perhaps the most important and insightful book on investing, and an eternal classic. It is not a book that promises ‘How to become rich…’ or ‘Mastering Stock market in a week….’ or ‘Beating the market made easy…’ or any shortcut to a quick buck. The book teaches three powerful lessons of how one can:- minimize the odds of suffering irreversible losses- maximize the chance of achieving sustainable gains- practice emotional control and behavior to help the investor achieve full potential.The book is about investing and having said that, investing is for the long term. Short term investing is like saying one is a spendthrift miser. While long term investors buy stocks or bonds for its intrinsic value and hold them, the 'short termers' play on its price like a video game, high on dopamine, ‘seeing price patterns’. While the intrinsic value of the security is stable, the markets, built upon the greed and fear of speculators, fluctuate widely and it is this constant flow of price movements that is the juice of speculation.The intelligent investor is the one who estimates the value of a stock based on some key parameters like the company’s long-term prospects, quality of management, financial strength and capital structure, dividend record, and current dividend.Graham lists two types of intelligent investors. The ‘active’ or ‘enterprising’ who does continuous researching, selecting and monitoring a dynamic mix of stocks, bonds and mutual funds. The ‘passive’ or ‘defensive’ investor on the other hand, creates a permanent portfolio that runs on autopilot and requires no further effort (but generates very little excitement) argues the author so elegantly. Quoting the investment thinker Charles Ellis, ‘’the enterprising approach is physically and intellectually taxing, while the defensive approach is emotionally demanding’’.For the long-term defensive investor, who has abundant emotional courage not to be distracted by daily price movements, there is no need to look at the daily price. In fact, the investor ‘’would be better off if his stocks had no market quotation at all, for he would be spared the mental anguish caused by other persons’ mistakes of judgement.’’ We don’t check the price of our house every hour! The intelligent investor would make use of any opportunity if a good company is facing a temporary crisis and add more shares to his portfolio at lower price. (In cases of extreme exuberance, it is also wise to sell if the price seems too high to be real). A prudent investment methodology would be to add on more of high quality stocks on a regular basis, thus paving way for ‘dollar cost averaging’. A well-diversified stock and bond portfolio ensures long term risk mitigation.Though the book is highly acclaimed in investment circles, in practice, only a miniscule of market participants adhere to the key principles the world over. Hence, situations like the Dot com bubble, the financial crisis of the last decade and the collapse of high priced so called ‘high growth stocks’ of unworthy and nefarious companies happen repeatedly.‘’A man is known by the books he reads” said Ralph Waldo Emerson. Invest in companies that have proven track record, stellar management capabilities and high ethical standards of corporate citizenry. Being an intelligent investor is more a matter of ‘character’ than ‘brain’, is the key message of this great tome.

The media could not be loaded.  THIS BOOK IS VERY GOOD. YOU MAY BUY HARDCOVER BECAUSE THIS BOOK CONTAINS OVER 600+ PAGES. SO IF YOU BUY PAPERBACK IT IS LIGHT AND PRETTY SENSITIVE. SO I RECOMMEND TO BUY HARDCOVER BECAUSE ITS STRONG FOR A BOOK WITH MANY PAGES. OR ELSE YOU HAVE TO BIND IT

Knowledgeable book!! Though a beginner in investment will find it difficult to understand the concepts or numbers stated in this book.

Good book

Useful book

This book is amazing, but there printing of paper is low quality

Good

Books are always a good way to learn about things, its pretty good and considered by many as the base of value trading, some reviews said that the original version (which I have not read) is better so I might also look into that

A book that will change your mindset. Loved it!

Los conceptos de Graham son fundamentales para cualquier inversionista, sin embargo el libro ya se siente un poco anticuado. Lo bueno es que tiene comentarios más recientes en cada capítulo que actualizan el contenido y dan ejemplos más modernos de lo que habla en el interior del capítulo. De cualquier manera es un libro indispensable para todos los asesores financieros e inversionistas profesionales.

Este libro es imprescindible no solo para todos los inversores, sino también para cualquier persona.Las finanzas, la inversión es un tema, o un conocimiento, que podría ser el más útil de todos además de la propia lengua y las matemáticas.Es la única manera de ser independiente y libre verdaderamente.Hay partes del libro algo más duras de leer para quienes no están muy metidos en el tema y otras que parecen obsoletas, pero en realidad es un libro ameno que se lee fácil y relativamente rápido.Lo dicho: un imprescindible para cualquier persona que se precie.Aprende todo lo que puedas, ahorra, invierte sabiamente, ten paciencia... y sé libre del Estado y sus corruptos políticos totalitarios... y de tu jefe.

Molto dettagliato e convincente. La strategia migliore per investire.