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Intelligent Investor by Benjamin Graham The definitive book on Value Investing
“By far the best book on investing ever written.” -Warren Buffett “Long ago, Ben Graham taught me that ‘Price is what you pay; value is what you get.’ Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.” -Warren Buffett
Disclaimer: Personal Review below The Intelligent Investor is a book that lays the framework for the value investor . This is one of those books that you read the first time and it blows your mind but each time you read it your eyes open up further and further again at the genius in the thinking. It preaches that a stock is not just a ticker symbol but an ownership in an actual business with an underlying value that does not depend on the share price. The market is pendulum that swings between unsustainable optimism and pessimism most of the time lying someplace in between. Graham teaches a margin of safety and to never overpay for a security no matter how exciting the opportunity seems to be. Graham teaches you to value a stock and walks you through many examples. The updated commentary by Jason Zweig provides an interesting look at many present day examples. Once upon a time everyone wanted electronic stocks, then airplane transport stocks… internet stocks. The future is the past with unique twists on it and the Intelligent Investor prepares you.