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The Intelligent Investor Rev Ed.
Écrit par Benjamin Graham
Raconté par Luke Daniels
Actions du livre
Commencer à écouter- Éditeur:
- HarperAudio
- Sortie:
- Jul 7, 2015
- ISBN:
- 9780062417619
- Format:
- Livre audio
Description
The Classic Text Annotated to Update Graham's Timeless Wisdom for Today's Market Conditions
The greatest investment advisor of the twentieth century, Benjamin Graham taught and inspired people worldwide. Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949.
Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles.
Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.
Informations sur le livre
The Intelligent Investor Rev Ed.
Écrit par Benjamin Graham
Raconté par Luke Daniels
Description
The Classic Text Annotated to Update Graham's Timeless Wisdom for Today's Market Conditions
The greatest investment advisor of the twentieth century, Benjamin Graham taught and inspired people worldwide. Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949.
Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles.
Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.
- Éditeur:
- HarperAudio
- Sortie:
- Jul 7, 2015
- ISBN:
- 9780062417619
- Format:
- Livre audio
À propos de l'auteur
En rapport avec The Intelligent Investor Rev Ed.
Avis
- Investment vs. Speculation
- Defensive Investment vs. Enterprising Investment
- Decent return for the Defensive: 4%
- Decent return for the Enterprising: 8%
- Investors are owners
- Margin of safety
Reception
A lot of the talking points in this book could easily be given at a talk on Slow Money [the alternative or new economy movement]. And yet what's so striking is that this book is also supposed to be the foundation of modern investment. How could this be, as the two are supposed to be opposites?
Well, most mainstream "investment" is actually speculation. And most Slow Money isn't that radical, but this is changing.
The book lays out two divergent strategies. The first is for the normal "defensive" investor. This strategy is largely passive, and focuses only on minimizing loss; impressive return is ignored.
The second is that of the "enterprising" and aggressive or full-time investor. Here the emphasis is still on minimizing exposure, but returns are expanded by heavily researching all possible pathways.
What's most interesting is not how the concepts of this book apply to investing, but how they apply to life. One of the key points is that, no matter how careful our calculations, some part of every decision is left to chance, and there's no way to eliminate this. So our best option is to align ourselves with those factors of which we will always be ignorant.
Much of the book is about dividends. Apparently they were the primary source of return back then. But it's gotten me thinking: how is it a good deal for a company to perpetually pay investors through dividends? Why not just pay them off? Dividends are essentially just debt service.
Once you are done with this wonderful book on investing, you'll learn that most other literature in the field of value investing seems mimicking what the master has said decades ago.
If you are not from the finance background, initially the book may seem boring or esoteric - as was the case with me. But once you begin to pick up investment basics I'm sure the book will be priceless.
Still I can't claim that I've understood it completely, but then that's why I'll read it for 3rd time, or maybe 100 more times.
I recommend this book for everyone.