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  • The Intelligent Investor (English) Paperback – 2013

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The Intelligent Investor (English) Paperback – 2013 Paperback – Notebook, 1 January 2003

4.5 out of 5 stars (51,874)

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It is a widely acclaimed book by Benjamin Graham on value investing. Written by one of the greatest investment advisers of twentieth century, the book aims at preventing potential investors from substantial errors and also teaches them strategies to achieve long-term investment goals.

Over the years, investment market has been following teachings and strategies of Graham for growth and development. In the book, Graham has explained various principles and strategies for investing safely and successfully without taking bigger risks. Modern-day investors still continue to use his proven and well-executed techniques for value investment.

The current edition highlights some of the important concepts that are useful for latest financial orders and plans. Keeping Graham's unique text in original form, the book focuses on major principles that can be applied in day-to-day life. All the concepts and principles are explained with the help of examples for better clarity and understanding of the financial world.

Combination of original plan of Graham and the current financial situations are the reason behind this book’s preference today’s investors. It is a detailed version with several wisdom quotes that are likely to change one’s investing career and lead to the path of financial safety and security.

About the Author:

A professional investor and economist, known all over the world, Benjamin Graham is believed to be the father of value investing. He first taught this new investment approach at Columbia Business School. A British-born, he is credited with having pioneered numerous cutting edge concepts that, many believe, pushed several of his followers in the world of investments, to the top.

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Among the library of investment books promising no-fail strategies for riches, Benjamin Graham's classic, The Intelligent Investor, offers no guarantees or gimmicks but overflows with the wisdom at the core of all good portfolio management.

The hallmark of Graham's philosophy is not profit maximization but loss minimization. In this respect, The Intelligent Investor is a book for true investors, not speculators or day traders. He provides, "in a form suitable for the laymen, guidance in adoption and execution of an investment policy" (1). This policy is inherently for the longer term and requires a commitment of effort. Where the speculator follows market trends, the investor uses discipline, research, and his analytical ability to make unpopular but sound investments in bargains relative to current asset value. Graham coaches the investor to develop a rational plan for buying stocks and bonds, and he argues that this plan must be a bulwark against emotional behavior that will always be tempting during abrupt bull and bear markets.

Since it was first published in 1949, Graham's investment guide has sold over a million copies and has been praised by such luminaries as Warren E. Buffet as "the best book on investing ever written." These accolades are well deserved. In its new form--with commentary on each chapter and extensive footnotes prepared by senior Money editor, Jason Zweig--the classic is now updated in light of changes in investment vehicles and market activities since 1972. What remains is a better book. Graham's sage advice, analytical guides, and cautionary tales are still valid for the contemporary investor, and Zweig's commentaries demonstrate the relevance of Graham's principles in light of 1990s and early twenty-first century market trends. --Patrick O'KelleyReview

“By far the best book on investing ever written.” -- Warren Buffett

“If you read just one book on investing during your lifetime, make it this one” -- Fortune

“The wider Mr. Graham’s gospel spreads, the more fairly the market will deal with its public.” -- Barron's

About the Author

Benjamin Graham was born on May 8th, 1894 and died on September 21st, 1976. He was known as the father of Value Investing. Graham was an American and was born in Britain. His love for finance kept burning bright, as he taught at the Columbian Business School. His keen interest in finance is what has made our present day investments fruitful.

Product details

  • Publisher ‏ : ‎ Harper Business
  • Publication date ‏ : ‎ 1 January 2003
  • Edition ‏ : ‎ 2011th
  • Language ‏ : ‎ English
  • Print length ‏ : ‎ 640 pages
  • ISBN-10 ‏ : ‎ 0062312685
  • ISBN-13 ‏ : ‎ 978-0062312686
  • Reading age ‏ : ‎ Customer suggested age: 15 years and up
  • Item Weight ‏ : ‎ 750 g
  • Dimensions ‏ : ‎ 13.34 x 4.04 x 20.32 cm
  • Net Quantity ‏ : ‎ 1.0 Count
  • Importer ‏ : ‎ Harper Business
  • Packer ‏ : ‎ Not spec
  • Generic Name ‏ : ‎ book
  • Best Sellers Rank: #31,113 in Books (See Top 100 in Books)
  • Customer Reviews:
    4.5 out of 5 stars (51,874)

About the authors

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Customer reviews

4.5 out of 5 stars
51,874 global ratings
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Customers say

Customers consider this book one of the best ever written on investing, with comprehensive content that teaches how to analyze whole businesses. Moreover, the book receives positive feedback for its clarity in explaining concepts and its suitability for investors. However, customers disagree on whether it's suitable for beginners. Additionally, the language is criticized for being too difficult to understand, and while some view it as a timeless classic, others find it outdated.
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1167 customers mention content, 1091 positive, 76 negative
Customers praise the book's content, describing it as the best ever written on investing and particularly good for value investing.
Warren Buffett has recommended it... So obviously its a good book. You should have another book as a reference to understand it more better...Read more
Great Book, and specially commentary at the end of chapter is more helpful and easy to understand as compared to chapters.Read more
Best book for all those who are interested in investing in the share market but first of all you must know some basic knowledge about share market...Read more
Nice book but a gist of the author's knowledge might help more. A shorter version of the book might help as well.Read more
217 customers mention readability, 152 positive, 65 negative
Customers find the book highly readable, describing it as a classic must-read that every investor should read.
...in English.. I have purchased it in 275 rs.. And obviously it is a must read book if you really want to become rich... This book gives complete...Read more
This book is a gem.must read But the product I received was damaged on one end (a little).i didnt care to replace though ThanksRead more
...are in us context to that to decades old so get a bit difficult to understand sometimesRead more
The authoritative book on value investing. Great read for anyone who is investing money in equities....Read more
161 customers mention informative, 160 positive, 1 negative
Customers find the book highly informative, teaching how to analyze whole businesses and providing a comprehensive guide to investing.
...This book contains complex information that is very useful but requires a lot of interest and dedication to be read and then applied...Read more
This book is very informative. I learnt the basics of investing in stock market from this classic....Read more
Good book, informative but the editing is very bad, it is as if it's done by a 7 year old. Read the commentaries....Read more
A useful bookRead more
81 customers mention comprehensiveness, 62 positive, 19 negative
Customers find the book comprehensive, with clear explanations of concepts and good information throughout.
...Overall the concept about investing in stock market has been well explained and it gives you a broad knowledge about bonds , mutual fund and...Read more
A very nice explanation to difficult subject...A must read.Read more
It is written at the backdrop of a very long period. Very comprehensive and exhaustive work. Good read on a long term reference....Read more
...after reading first 100 pages, I started getting bored as it was too technical and not so engaging....Read more
28 customers mention investor suitability, 23 positive, 5 negative
Customers find this book highly suitable for investors, describing it as gold for value investing, with one customer noting that it requires patience and is valuable for both beginners and experienced traders.
Good for investorsRead more
This book tell us hou to become a good investor I learn lot of technique from this.Read more
Excellent book for begineer as well as experienced tradersRead more
Good book both for new and seasoned investors .Read more
67 customers mention suitable for beginners, 34 positive, 33 negative
Customers have mixed opinions about the book's suitability for beginners, with some finding it great while others say it's not suggested for newcomers.
Really a good book for beginners!Read more
...definitely one of the finest book written on investing but its not for beginners.Read more
Good book for beginners mindsetRead more
...This is not a book for beginners.Read more
34 customers mention outdated content, 17 positive, 17 negative
Customers have mixed opinions about the book's content, with some considering it a timeless classic while others find it outdated.
Timeless classic....this book in a minimum will make you a disciplined person with less greed in you.Read more
Old edition. Not easy language . Begineer cant understand it and only related to wall streetRead more
Great Book on investing... A classic... Timeless at thatRead more
The language is unnecessarily complex & the content is outdated & not applicable in today’s stock market.Read more
39 customers mention language, 11 positive, 28 negative
Customers find the language of the book difficult to understand, with one customer specifically mentioning issues with sentence formation.
Old edition. Not easy language . Begineer cant understand it and only related to wall streetRead more
It has been an amazing read. The english used is very high, if it was in simpler words it could've been easier for me....Read more
Clear and concise, investment strategy book. The paperback version is actually,of good quality....Read more
Not ideal for Indian Users/Investors. Very hi-fi english languages/words are used....Read more
Book quality and knowledge
5 out of 5 stars
Book quality and knowledge
Go for hardcover if you really care about books and keep them with love and care because paperback most of time got tear up in case of big books.By the way this books is a true gem indeed.GO FOR IT!!
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Top reviews from India

  • Reviewed in India on 14 August 2018
    Format: PaperbackVerified Purchase
    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.
    846 people found this helpful
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  • Reviewed in India on 10 April 2026
    Verified Purchase
    very good book
  • Reviewed in India on 5 April 2023
    Format: PaperbackVerified Purchase
    "The Intelligent Investor" by Benjamin Graham, I must say, this book is a must-read for anyone interested in investing. Despite being published decades ago, the insights and principles in this book are still very relevant today.

    Graham's approach to investing is based on thorough research and analysis, as well as a focus on long-term strategies rather than short-term gains. The book is very well-written and easy to understand, even for those who may not have a lot of experience in the stock market.

    One of the things I appreciated most about this book is that it emphasizes the importance of maintaining a rational and disciplined approach to investing. Graham provides a lot of practical advice on how to avoid common pitfalls and make sound investment decisions.

    Overall, I would highly recommend "The Intelligent Investor" to anyone looking to improve their investment strategy and knowledge. The book is a classic for a reason and is definitely worth the read. Whether you're a beginner or an experienced investor, there is a lot to learn from Graham's wisdom and expertise.
    11 people found this helpful
    Report
  • Reviewed in India on 31 December 2025
    Format: HardcoverVerified Purchase
    Go for hardcover if you really care about books and keep them with love and care because paperback most of time got tear up in case of big books.By the way this books is a true gem indeed.GO FOR IT!!
    Customer image
    5.0 out of 5 stars
    Book quality and knowledge

    Reviewed in India on 31 December 2025
    Go for hardcover if you really care about books and keep them with love and care because paperback most of time got tear up in case of big books.By the way this books is a true gem indeed.GO FOR IT!!
    Images in this review
    Customer image Customer image Customer image Customer image
    2 people found this helpful
    Report
  • Reviewed in India on 12 November 2025
    Verified Purchase
    This book is an absolute essential for anyone serious about investing. It's the foundational text on value investing and provides a timeless, common-sense framework for protecting your capital and achieving long-term success.
    6 people found this helpful
    Report
  • Reviewed in India on 30 January 2026
    Verified Purchase
    Good for beginners to learn about the market.
  • Reviewed in India on 28 January 2017
    Format: PaperbackVerified Purchase
    I think the author tried to instill important lessons and they are very useful indeed. However, there are several problems with this book as listed below.
    1. The original version of the book may have been well written. I wouldn't know. But after the original version, in the name of making the book relevant to the present day, people added/removed stuff. And I think, as yet new versions were released, even more editing was done. The book now reads like a teenager edited it. Outdated examples are so badly articulated, that instead of understanding the concept of relevance, you just end up getting super confused.
    2. Tables/Graphs aren't matching with the text!! - When you first see a table full of financial figures about different companies, what would be your expectation? That a) The table has something to do with the text in that chapter, and, b) The author will walk you through those figures explaining away why you should choose to invest in company A and not in company B etc.. But you would be so wrong! At best, the author will describe different figures in the table and half-way through explaining, just walk away to a different topic. This happens repeatedly in the book. It is *very* annoying.
    3. I expected the author to state his philosophy, state a few "rules" derived from that philosophy, and show how to employ these rules while making decisions in the real world. I also expected the author to show counter-examples - where a "rule" wasn't followed and how it costed the investor dearly. The author tries to do all of this - but much more. There is an attempt to cramp too many ideas into a few pages. Often many ideas are tangential to the core ideas and they distract you away from the core ideas.

    I think the messed up editing is to blame. I also think that the editors themselves realized it - They added a 'Commentary' for every chapter of the book - and the Commentary is as big as a chapter! These commentaries, thankfully, are each written by reputed people in the discipline. They are well written and easily understandable. I advise readers to first read all the 'Commentary's and then proceed to read the Chapters if you really feel like it. Otherwise you can close the book after reading the commentaries.
    16 people found this helpful
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  • Reviewed in India on 18 March 2026
    Verified Purchase
    The book was a bit damaged , when I opened. Guess it happened during delivery. The book overall is the good

Top reviews from other countries

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  • Phuong Pham
    3.0 out of 5 stars Damaged item
    Reviewed in Poland on 11 March 2022
    Verified Purchase
    When I received the book, the package was not damaged but the book was already bent (as shown in the photo). I am pretty disappointed with this delivery :(
    Customer image
    Phuong Pham
    3.0 out of 5 stars
    Damaged item

    Reviewed in Poland on 11 March 2022
    When I received the book, the package was not damaged but the book was already bent (as shown in the photo). I am pretty disappointed with this delivery :(
    Images in this review
    Customer image
  • Alejandro Gomez
    5.0 out of 5 stars Gran libro
    Reviewed in Mexico on 8 June 2020
    Verified Purchase
    Habia leido muy buenas reseñas de este libro ya que estaba interesado en aprender un poco más sobre todo lo relacionado a inversiones a través de bolsa. Es una lectura pesada ya que tiene muchos tecnicismos, pero me ha sido de mucha utilidad. Si estás buscando guía en estos temas, este libro te ayudara a orientarte.
    Report
  • Brendan McCormack
    1.0 out of 5 stars Terrible quality and outdated information
    Reviewed in Ireland on 8 April 2026
    Verified Purchase
    Binding on the book was horrendous couldn't flip between pages because they were all different sizes and came damaged
  • Christian Wuethrich
    5.0 out of 5 stars Un ouvrage de référence que tout investisseur doit avoir lu.
    Reviewed in France on 6 March 2016
    Verified Purchase
    Le livre de Benjamin Graham est une pièce de référence qui a permis à de nombreux investisseurs de débuter dans la gestion de fond d'investissement en évitant les erreurs commises par le passé. Ce livre se lit un peu comme on déguste une friandise et chaque chapitre aborde un principe ou une stratégie appliquée en finance. Le livre datant du début des années 70 chaque chapitre est suivi d'un commentaire par Jason Zweig qui replace le chapitre dans le contexte actuel en montrant les développements qui sont survenus au cour des 40 dernières années. Un ouvrage très complet qui défend les principes de la gestion passive et de l'investissement par opposition à la spéculation. Si l'on ne lit qu'un ouvrage avant de débuter dans la gestion d'actifs financiers c'est celui ci qu'il faut choisir car finalement de nombreux autres ouvrages s'en inspirent.
  • David Boyd
    5.0 out of 5 stars It’s a comprehensive and informative book about investing.
    Reviewed in Australia on 29 December 2022
    Verified Purchase
    It’s an excellent and comprehensive book about investing, written in an easy readable style and understandable by most people. It outlasts many other texts because in the many oscillations of markets it explains the reasons for the many market variations. In particular I like the explanation of an intelligent investor on page 13, a concept that is carried throughout the book - all 600 pages of it.