The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition)

More than one million hardcovers sold Now available for the first time in paperback! The Classic Text Annotated to Update Graham's Timeless Wisdom for Today's Market Conditions The greatest investment advisor of the twentieth century, Benjamin Graham taught and inspired people worldwide. Graham's philosophy of ''value investing'' -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949. Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles. Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals. Over The Years, Market Developments Have Proven The Wisdom Of Graham's Strategies. While Preserving The Integrity Of Graham's Original Text, This Revised Edition Includes Updated Commentary By Noted Financial Journalist Jason Zweig, Whose Perspective Incorporates The Realities Of Today's Market, Draws Parallels Between Graham's Examples And Today's Financial Headlines, And Gives Readers A More Thorough Understanding Of How To Apply Graham's Principles.-back Cover. What This Book Expects To Accomplish -- Investment Versus Speculation, Results To Be Expected By The Intelligent Investor -- Investor And Inflation -- Century Of Stock-market History, The Level Of Stock Prices In Early 1972 -- General Portfolio Policy, The Defensive Investor -- Defensive Investor And Common Stocks -- Portfolio Policy For The Enterprising Investor, Negative Approach -- Portfolio Policy For The Enterprising Investor, The Positive Side -- Investor And Market Fluctuations -- Investing In Investment Funds -- Investor And His Advisers -- Security Analysis For The Lay Investor, General Approach -- Things To Consider About Per-share Earnings -- Comparison Of Four Listed Companies -- Stock Selection For The Defensive Investor -- Stock Selection For The Enterprising Investor -- Convertible Issues And Warrants -- Four Extremely Instructive Case Histories -- Comparison Of Eight Pairs Of Companies -- Shareholders And Managements, Dividend Policy -- Margin Of Safety As The Central Concept Of Investment -- Postscript -- Appendixes: Superinvestors Of Graham-and-doddsville; Important Rules Concerning Taxability Of Investment Income And Security Transactions, In 1972; Basics Of Investment Taxation, Updated As Of 2003; New Speculation In Common Stocks; Case History, Aetna Maintenance Co.; Tax Accounting For Nvf's Acquisition Of Sharon Steel Shares; Technological Companies As Investments. Benjamin Graham. Previous Ed.: 4th Rev. Ed., With A New Pref. And Apppendix By Warren E. Buffett. New York : Harper & Row, [1985], C1973. Includes Bibliographical References (p. 579-587) And Index. “By far the best book on investing ever written.” — Warren BuffettThe classic text of Benjamin Graham's seminal The Intelligent Investor has now been revised and annotated to update the timeless wisdom for today's market conditions.The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham's philosophy of'value investing'—which shields investors from substantial error and teaches them to develop long-term strategies—has made The Intelligent Investor the stock market bible ever since its original publication in 1949.Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles.Vital and indispensable, this revised edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals. The classic text of Benjamin Graham’s seminal The Intelligent Investor has now been revised and annotated to update the timeless wisdom for today’s market conditions. The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham's philosophy of "value investing"—which shields investors from substantial error and teaches them to develop long-term strategies—has made The Intelligent Investor the stock market bible ever since its original publication in 1949. Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles. Vital and indispensable, this revised edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals. Title Page......Page 3 Contents......Page 6 Epigraph......Page 5 Preface to the Fourth Edition, by Warren E. Buffett......Page 10 A Note About Benjamin Graham, by Jason Zweig......Page 12 Introduction: What This Book Expects to Accomplish......Page 16 COMMENTARY ON THE INTRODUCTION......Page 27 1. Investment versus Speculation: Results to Be Expected by the Intelligent Investor......Page 33 COMMENTARY ON CHAPTER 1......Page 50 2. The Investor and Inflation......Page 62 COMMENTARY ON CHAPTER 2......Page 73 3. A Century of Stock-Market History: The Level of Stock Prices in Early 1972......Page 80 COMMENTARY ON CHAPTER 3......Page 95 Acknowledgments from Jason Zweig......Page 104 Index......Page 106 About the Authors......Page 139 Credits......Page 140 Front Cover......Page 1 Copyright......Page 141 About the Publisher......Page 142 More than one million hardcovers sold Now available for the first time in paperback! The greatest investment advisor of the twentieth century, Benjamin Graham taught and inspired people worldwide. Graham's philosophy of ''value investing'' -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made __The Intelligent Investor__ the stock market bible ever since its original publication in 1949. Vital and indispensable, this HarperBusiness Essentials edition of __The Intelligent Investor__ is the most important book you will ever read on how to reach your financial goals. "While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose persepective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles."--Page 4 of cover Taking account of both the defensive and the enterprising investor, outlines the principles of stock selection, explains simple portfolio policy, and offers advice on a range of strategies