by Benjamin Graham
“The Intelligent Investor” is a foundational text on value investing and is often hailed as one of the best investment books of all time.
Benjamin Graham emphasizes a disciplined, patient approach to investing, with a strong focus on minimizing risk.
He introduces key concepts like “margin of safety”—the idea of buying securities below their intrinsic value to protect against potential losses.
Graham distinguishes between defensive (conservative) and enterprising (more aggressive) investors, tailoring strategies for each based on risk tolerance.
The book also discusses the psychology of investing, warning against emotional decision-making and market speculation.
Ultimately, Graham advocates for long-term, fundamentally sound investment choices, encouraging readers to focus on the underlying value of assets rather than short-term market fluctuations. His teachings on risk management, patience, and the importance of thorough research have made this book an essential read for both novice and seasoned investors.