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The Intelligent Investor (English) Paperback – 2013 Paperback – Notebook, 1 January 2003
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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 books preference todays investors. It is a detailed version with several wisdom quotes that are likely to change ones 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.
- ISBN-100062312685
- ISBN-13978-0062312686
- Edition2011th
- PublisherHarper Business
- Publication date1 January 2003
- LanguageEnglish
- Dimensions13.34 x 4.04 x 20.32 cm
- Print length640 pages
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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)
- #10 in Economics Books
- #59 in Analysis & Strategy
- Customer Reviews:
About the authors

Jason Zweig is an investing and personal finance columnist for The Wall Street Journal. Previously, he was a senior writer at Money magazine, mutual-funds editor at Forbes magazine, and a guest columnist for Time and cnn.com. He is the editor of the revised edition of Benjamin Graham's "The Intelligent Investor," the classic text that Warren Buffett has called "by far the best book about investing ever written." He is also the author of "The Devil's Financial Dictionary," a satirical glossary of Wall Street terms, and "Your Money and Your Brain," on the neuroscience and psychology of financial decision-making. Zweig serves on the editorial boards of Financial History magazine and The Journal of Behavioral Finance. Visit the author at www.jasonzweig.com and follow him on Twitter at @jasonzweigwsj.

Benjamin Graham (/ɡræm/; born Benjamin Grossbaum; May 8, 1894 – September 21, 1976) was a British-born American economist and professional investor. Graham is considered the father of value investing, an investment approach he began teaching at Columbia Business School in 1928 and subsequently refined with David Dodd through various editions of their famous book Security Analysis. Graham had many disciples in his lifetime, a number of whom went on to become successful investors themselves. Graham's most well-known disciples include Warren Buffett, William J. Ruane, Irving Kahn and Walter J. Schloss, among others. Buffett, who credits Graham as grounding him with a sound intellectual investment framework, described him as the second most influential person in his life after his own father. In fact, Graham had such an overwhelming influence on his students that two of them, Buffett and Kahn, named their sons Howard Graham Buffett and Thomas Graham Kahn after him. Graham also taught at the UCLA Anderson School of Management.
Bio from Wikipedia, the free encyclopedia.

Bill McGowan is the founder and CEO of Clarity Media Group. A two-time Emmy Award-winning correspondent, he has reported more than seven hundred nationally televised stories and has anchored hundreds of hours of news and information programming. During his twenty-five years in television, McGowan conducted hundreds of interviews with newsmakers, CEOs, celebrities, authors, editors, attorneys, and athletes. McGowan now uses that experience to coach and train everyone from corporate CEOs to celebrities such as New York Giants quarterback Eli Manning, the actress Katherine Heigl, and the jazz great Wynton Marsalis. He also speaks regularly to large corporate audiences at such companies as Credit Suisse, Condé Nast, and Campbell’s.
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- Reviewed in India on 14 August 2018Format: PaperbackVerified PurchaseThis 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.
- Reviewed in India on 10 April 2026Verified Purchasevery good book
- Reviewed in India on 5 April 2023Format: 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.
- Reviewed in India on 31 December 2025Format: HardcoverVerified PurchaseGo 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!!
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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- Reviewed in India on 12 November 2025Verified PurchaseThis 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.
- Reviewed in India on 30 January 2026Verified PurchaseGood for beginners to learn about the market.
- Reviewed in India on 28 January 2017Format: PaperbackVerified PurchaseI 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.
- Reviewed in India on 18 March 2026Verified PurchaseThe book was a bit damaged , when I opened. Guess it happened during delivery. The book overall is the good
Top reviews from other countries
Phuong PhamReviewed in Poland on 11 March 20223.0 out of 5 stars Damaged item
Verified PurchaseWhen 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 :(
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 :(3.0 out of 5 stars
Phuong PhamDamaged item
Reviewed in Poland on 11 March 2022
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Alejandro GomezReviewed in Mexico on 8 June 20205.0 out of 5 stars Gran libro
Verified PurchaseHabia 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.
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Christian WuethrichReviewed in France on 6 March 20165.0 out of 5 stars Un ouvrage de référence que tout investisseur doit avoir lu.
Verified PurchaseLe 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 BoydReviewed in Australia on 29 December 20225.0 out of 5 stars It’s a comprehensive and informative book about investing.
Verified PurchaseIt’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.
















