by Benjamin Graham
The Intelligent Investor by Benjamin Graham is in our opinion one of the best books on the principles of value investing techniques. This book has been written by a person who was born at the end of the nineteenth century, yet many of his principles are still valid today.
Benjamin Graham’s techniques and principles have also been used by the famous investor Warren Buffett.
Principal Message from the Intelligent Investor
The main message to the value investor reader is as true today in the twenty first century as it was to the investors of the twentieth century, namely:
- Do your investment homework! Do thorough research and investor analysis.
- Don’t follow the investor crowd! Sell when everyone is buying (& buy when everyone is selling).
- Be in for the long investment game, since short-term speculation seldom creates investor profits.
Be a Long-Term Intelligent Investor and Not a Short-Term Speculator
Benjamin Graham explains how investors come in two flavors. The first type of investor is the defensive type, who is a risk adverse investor. The second type is the enterprising (aggressive) investor type who is looking for an investment bargain.
Key Investing Messages from The Intelligent Investor
- Intelligent investors follow the market movements.
- Intelligent investors have clear portfolio strategies: defensive, aggressive or enterprising.
- Intelligent investors follow the investor rules for appraising investments.
- Intelligent investors need to assess shareholders and organisational management.
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