The Intelligent Investor - Summary
Intelligent Investor Book is a famous book written by Benjamin Graham, who is known as the “father of value investing.” It was first published in 1949 and is still considered one of the best guides for learning how to invest wisely. The book teaches investors how to make safe and smart decisions instead of taking unnecessary risks.
In this book, Graham explains the difference between investing and speculation, the importance of patience, and how to understand the true value of a company. Many successful investors, including Warren Buffett, call it a life-changing book. It is not just for experts but also helpful for beginners who want to build wealth slowly and safely.
The Intelligent Investor (Contents)
1. Investment versus Speculation: Results to Be Expected by the Intelligent Investor – 18
2. The Investor and Inflation – 47
3. A Century of Stock-Market History: The Level of Stock Prices in Early 1972 – 65
4. General Portfolio Policy: The Defensive Investor – 88
5. The Defensive Investor and Common Stocks – 112
6. Portfolio Policy for the Enterprising Investor: Negative Approach – 133
7. Portfolio Policy for the Enterprising Investor: The Positive Side – 155
8. The Investor and Market Fluctuations – 188
9. Investing in Investment Funds – 226
10. The Investor and His Advisers – 257
11. Security Analysis for the Lay Investor: General Approach – 280
12. Things to Consider About Per-Share Earnings – 310
13. A Comparison of Four Listed Companies – 330
14. Stock Selection for the Defensive Investor – 347
15. Stock Selection for the Enterprising Investor – 376
16. Convertible Issues and Warrants – 403
17. Four Extremely Instructive Case Histories – 422
18. A Comparison of Eight Pairs of Companies – 446
19. Shareholders and Managements: Dividend Policy – 487
20. “Margin of Safety” as the Central Concept of Investment – 512
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