The Intelligent Investor:The Definitive Book on Value Investing
Revised Edition
Published by Harper Business, 2006, softcover, index, 622 pages, condition: new.
Benjamin Graham was a financial analyst, investor and professor. He is widely known as the "father of value investing", and wrote two of the discipline's founding texts: Security Analysis (1934) with David Dodd, The Intelligent Investor (1949). His investment philosophy stressed independent thinking, emotional detachment, and careful security analysis, emphasizing the importance of distinguishing the price of a stock from the value of its underlying business.
After graduating from Columbia University at age 20, Graham started his career on Wall Street, eventually founding GrahamNewman Corp., a successful mutual fund. He also taught investing for many years at Columbia Business School, where one of his students was Warren Buffet Graham later taught at UCLA Anderson School of Management at the University of California, Los Angeles.
Graham laid the groundwork for value investing at mutual funds, hedge funds, diversified holding companies, and other investment vehicles. He was the driving force behind the establishment of the profession of security analysis and the Chartered Financial Analyst designation. He also advocated the creation of index funds decades before they were introduced. Throughout his career, Graham had many notable disciples who went on to earn substantial success as investors, including Irving Khan and Warren Buffett, who described Graham as the second most influential person in his life after his own father.
OK, the recent stock market drops scared me. I got hit by the drops in 99 and said I would never let it happen again. This time I had what I thought would be value stocks. The problem was I didn't know if I should sell or hold the stocks.
I absolutely recommend this book, especially right now. Now is a great opportunity to pick up value stocks that have dropped a bunch. They dropped not because that are bad stocks but because Mr. Market has dropped and they've been pulled down.
