The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition)(Preface and Appendix by Warren
Buffett; Commentary by Jason Zweig)
Warren Buffett called Benjamin Graham
"the greatest teacher in the history of finance" (The
Essays of Warren Buffett, p. 35) and calls this book "By far
the best book on investing ever written." Anybody who wants to
invest in individual stocks should read it.
Get the edition with Jason Zweig's
commentary. Although purists may prefer the unadorned original, I
greatly benefited from Zweig's input, demonstrating repeatedly how
Graham's teachings proved themselves through the behavior of the stock
market since Graham's death in 1976. Also, Zweig cites study after
study conducted after the publishing of The Intelligent Investor,
bringing the principles and their application up-to-date. Zweig
is a senior editor for Money magazine, former senior editor at
Forbes, and author of Your Money and Your Brain. He knows
investing and writes in an engaging, entertaining style.
Some of My Action Points From Graham
1. Mr. Market is fickle, often pricing
companies below or above their true value. This provides opportunities
for informed investors to purchase great companies at a bargain and
thus beat the appropriate market benchmarks over time.
(I'll come back to