The Intelligent Investor: The Classic Text on Value Investing

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#1
[Image: 9780060752613.jpg]

The Intelligent Investor: The Classic Text on Value Investing


This is another investment classic by Benjamin Graham who, for those newcomers info, is the mentor of Warren Buffett.
While I have recommended the Security Analysis, this book is of a lighter reading, ie. you wun fall asleep as fast as that one. (Jus kidding Big Grin)

Personal opinion: The Intelligent Investor is placing more emphasis onto an investor's psychology rather than the valuation approach/technique. For the hands on, go for the Security Analysis.
I would also say both books are important and complement each other very well. If you are a newbie, read this, then go for that 1+kg paper-weight which I just mentioned above.
There are several version of this book, two of which are with Jason Zweig commentaries. Personally, I would prefer this edition as the other two makes one very confused when the commentaries are inserted all over the place.

Warren Buffett said that in his bookshelves, there are 4 books. They are Security Analysis 1st and 2nd edition, the Intelligent Investor and Adam Smith's Wealth of Nations.

You now hold the knowledge of what the 3rd richest man in the world read. Dec is round the corner and regardless you are a professional or a student, the bonus you are gonna get or the free time during school holiday would be very well used if you would just read this book.

Happy Holidays.

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#2
Good recommendation! I think, however, that "security analysis" is quite interesting. "Wealth of nation" is the one that makes one sleep - things like division of labour, importance of river in early civilisation, how money came about...yawn,yawn, zzz .

I think while Ben Graham had great influence on him earlier, eventually it was Phillip Fisher & Charlie Munger who moved him into growth, intangibles, human factors etc. And he 青出于蓝更胜于篮。

Sometimes, I find his valuation standard outdated, after so many years. So I just take the spirit, not the hard numbers.

His personal life is not something I find agreeable, though. W.B. is better.
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