Few books have been able to withstand the test of time in better form than The Intelligent Investor. Written by Benjamin Graham in 1949 as a guide to investing principles designed to be accessible to the general public, The Intelligent Investor clearly presents not only information regarding sound selection of securities but, perhaps more importantly, the correct mindset that separates true investors from speculators. For decades, Warren Buffett has recommended that readers pay particular attention to Chapters 8 and 20 covering how investors should think about market fluctuations and margin of safety. Read this article for Ben Graham’s views on “relatively unpopular large companies”.
This article provides some insights into Benjamin Graham and David Dodd’s classic textbook on investing: Security Analysis. The author describes his own experience reading a reproduction of the 1934 edition and the benefits of studying the latest sixth edition instead. Read the article for more details on Security Analysis.
Benjamin Graham pioneered a technique that holds a great deal of promise in today’s market. Graham’s concept of identifying bargain issues, or Net-Current-Asset Value Stocks (NCAV), is as relevant today as when he wrote about it in The Intelligent Investor in 1949. This post takes a look at this concept and how it might be applied today.
Benjamin Graham is most widely known for his classic books on investing: The Intelligent Investor and Security Analysis. However, most investors would be well served to read a lesser known work of Graham: The Interpretation of Financial Statements. This slim volume provides a great deal of useful information in a small package.