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The Intelligent Investor

The Intelligent Investor

Written by Benjamin Graham

Narrated by Bill McGowan


The Intelligent Investor

Written by Benjamin Graham

Narrated by Bill McGowan

ratings:
4/5 (824 ratings)
Length:
2 hours
Publisher:
Released:
Jun 21, 2005
ISBN:
9780060854300
Format:
Audiobook

Description

The classic bestseller by Benjamin Graham, perhaps the greatest investment advisor of the Twentieth Century, The Intelligent Investor has taught and inspired hundreds of thousands of people worldwide. Since its original publication in 1949, Benjamin Graham's book has remained the most respected guide to investing, due to his timeless philosophy of "value investing," which helps protect investors against areas of (possible) substantial error and teaches them to develop long-term strategies which they will be comfortable with down the road.

Among this audio's special features are the use of numerous comparisons of pairs of common stocks to bring out their elements of strength and weakness and the construction of investment portfolios designed to meet specific requirements of quality and price attractiveness.

Read by Bill McGowan

Publisher:
Released:
Jun 21, 2005
ISBN:
9780060854300
Format:
Audiobook

About the author

Benjamin Graham (1894-1976), the father of value investing, has been an inspiration for many of today's most successful businesspeople. He is also the author of Securities Analysis and The Interpretation of Financial Statements.


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What people think about The Intelligent Investor

4.1
824 ratings / 33 Reviews
What did you think?
Rating: 0 out of 5 stars

Reader reviews

  • (5/5)
    Wonderful book about knowledge-based investing.
    This is a great read.
    Thanks :)
  • (5/5)
    Amazing book how do you recommend it will be need to get
  • (2/5)
    Audiobook cuts at the end and beginning. Information is amazing.
  • (5/5)
    Great and informative classic that stands the test of time.
  • (5/5)
    Nicely written, covering lots of fundamentals of investing and pitfalls of investing
  • (5/5)
    This is an amazing must read book that I’m going to get a physical version of the book and reread it.
  • (5/5)
    Wonderful book about knowledge-based investing.This is a great readGood for beginners in the stock market.
    Berivan Kamran
  • (4/5)
    Simple book on investing. Good for beginners in the stock market.
  • (5/5)
    Indispensable for anyone willing to invest in the stock market.
  • (5/5)
    Good book but old. It needs to be updated.
  • (5/5)
    Speculative money isn’t real. A majority of people speculate though. Technical insight made somewhat common sense. Principles are clear enough to understand why Warren Buffet profits on investments and also focuses on insurance. Making money is a racket lol. Averages aren’t though. I’m thinking about cracking open my finite math book again ??
  • (5/5)
    Ojalá pudiera darle más de 5 estrellas. hasta ahora es el mejor libro que he leído acerca de inversiones. Ahora entiendo porque Warren Buffet recomienda este libro tanto.
  • (4/5)
    Not very suitable for beginner, but extremely valuable content, no doubt.
  • (3/5)

    1 person found this helpful

    Main benefit I took from this book is the historical view and attitude of investors in the stock market 5 decades ago. Portfolios that were successful in the 1960s and 70s would not perform well in the current times of near zero percent interest on bonds and Treasury notes. Yet he provides a historical account of what was appropriate for the average person investing in a different economy that could roll around again in the future. Read this book to learn about where today's investing strategies came from and not as a guide on best practices in the third decade of the 21st century. Good day.

    1 person found this helpful

  • (5/5)

    1 person found this helpful

    A little jargon heavy, but full of good advice. Same Concepts as most investing books, don't trade and diversify

    1 person found this helpful

  • (5/5)
    Awesome book
  • (4/5)
    This book provides a lot of information regarding investing in the stock market: - analyze the long-term value of a stock - understanding the company and reading the market - how to deal with IPOs - indexes are best for beginners (like me)Accordingly, you get to know when not to invest in a company as well. I'm still very new into this, but the list of checks that we need to do to invest is big and I hope there are at least a couple of companies that pass all these criteria.As mentioned by others, the examples can be modified to be more relevant and current. Will this generation be able to correlate with what happened in the 70s and 80s? Also, this is the third book that I've read on this topic and it still had many things that I couldn't comprehend. I had to look online for quite a few things to get a basic understanding before continuing in the book.
  • (3/5)

    2 people found this helpful

    The Intelligent Investor serves as a foundation for anyone interested in learning about investing. It is dated but there are universal concepts that remain true today. The revision brings some needed updates with great discussion on the dot com bubble. What I gained from reading this is investor behavior has not changed and there are many speculators in the market. In the current bull market, there is a optimism in companies that Graham would not find financially sound. Many people are seeking the next Amazon or Facebook. The important takeaway is timing the market is less important than finding companies that represent good value with potential growth. This book is not designed to tell the reader what exact stock to buy but instead give perspective on a healthy view on investing.

    2 people found this helpful

  • (4/5)

    2 people found this helpful

    I see why this book is so popular and well-respected. However, out of the 20 chapters, there are only 6-8 chapters that I couldn't "must reads." If you want to read about investing, definitely add this to your list, but I recommend that you go to Investopedia to look up some of the terms and concepts. This is a heavy read, so don't rush through it.

    2 people found this helpful

  • (4/5)

    1 person found this helpful

    The base advice is timeless, though the examples he uses, mostly from the 1940s through early 1970s, are dated. Luckily, Jason Zweig's useful commentary follows each chapter, summarizes the material, provides newer examples, from the late 1990s/early 2000s, and let's the reader know when changes in the industry have made one of Graham's points less relevant. It is a combination that works well. Younger readers, however, might find discussions of Enron and Global Crossing just as opaque as Graham's discussion of railroad bonds, and wish that there was an even newer revision.

    1 person found this helpful

  • (4/5)

    1 person found this helpful

    The Intelligent Investor, in its last edition by Benjamin Graham, is a book whose acquaintance would have benefited me greatly had I come across it as a young man back when it was published in 1973. As much a psychological guide to market investing as a technical one, Mr. Graham provides wise and emphatic counsel on when you should be excited to invest (not when euphoric markets reign) and the investments one should seek (not the hottest ones exciting everyone most). He demonstrates how to evaluate companies in order to become the defensive investor he believes most of us should be, with good advice for “enterprising” investors too. It’s a clarifying vision. And helpfully, this vintage volume was updated by Jason Zweig in 2003 with interesting footnotes and commentaries.The Intelligent Investor also calls our attention to the pitfalls of uncritical belief and the vigilance necessary to avoid them. As an example, he acquaints us with the accounting malpractice employed by some business concerns, something investors can’t afford to ignore. Jason Zweig injects passion into the text when discussing dividends and stock buybacks, aiming scorching words at corporate chiefs who devalue the former practice and too often celebrate the latter.Direct, intelligent, and even at times entertaining, The Intelligent Investor is a valuable aid for most anyone wishing to learn how to think over, with composure, the issues involved in making better investment decisions.

    1 person found this helpful

  • (5/5)
    The Intelligent Investor: The Definitive Book on Value Investing by Benjamin GrahamThe father of value investing, Benjamin Graham, wrote a powerful and insight book that has changed the way individuals invest their money. The basic premise in value investing is not to look for the quick changing high payout stocks but rather to focus on long-term investment strategies. This same strategy is the one used by Warren Buffett and look where he, and Berkshire Hathaway clients, is today.I thought about dabbling in the world of the stock market and thought I needed more education before I sunk my teeth into this world. Enter Benjamin Graham and The Intelligent Investor. This book opened my eyes to a new and valuable understanding of the stock market. It also introduced me to how people can make substantial amounts of money investing correctly. Armed with the right information, any new investor can succeed in the markets.Graham’s book covers a variety of topics including investment versus speculator; inflation and the investor; the defensive investor; the enterprising investor; market fluctuations; investment funds; and a whole lot of comparisons and valuable information. Nearly 600 pages of valuable information that any stock investor should be aware of.This books information is dated as it was published in 2003 but the premise is a sound today as it was in 1949 when Graham first published this work. Numerous famous companies provide examples throughout the book to give real world analysis of value investing strategies. Companies like ALCOA, Coca-cola, General Motors, IBM, McGraw-Hill, Penn Central Railroad, Sears Roebuck, Standard Oil of California, Standard Oil of New Jersey, Wal-mart and Yahoo.I never did invest money into the stock market directly; I decided to go a safer route through mutual funds. There is something inherently risky about the stock market, which did not suit my investment purposes. That is not to say that mutual funds are risk free because they are not. To me, mutual funds are a safer investment vehicle because they rely not on a single stock but rather many different stocks to make up the portfolio.Anybody interested in value investing should read this book. In fact, I would suggest that anybody contemplating investing any money in any investment vehicle should read this before they invest. I know I am happy to have read this book before making any investments.Happy Reading,  
  • (3/5)

    1 person found this helpful

    it was ok. not very attention grabbing, but very informative

    1 person found this helpful

  • (4/5)
    A penny saved is a penny earned ... and if invested for 20 years, compounded daily at an average of 6% you'll have $.03 more in your retirement fun ...
  • (3/5)

    1 person found this helpful

    This was given to me by my boyfriend and by far still one of the best books about stock trading for the long and safe term. :) Another good pick for guides on financial goals.

    1 person found this helpful

  • (3/5)

    1 person found this helpful

    Summary of Topics
    - 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.

    1 person found this helpful

  • (5/5)

    1 person found this helpful

    An exceptional book about value investing. Written over 60 years ago, the advice given is still great today. Zweig's commentary is the best part, as it gives relevance and essential updates to the often dated examples. The book is also a great book for the philosophy of investing, setting very realistic goals. Overall I felt that it was a truthful book and has the backing of unmatched investors. Be warned, it's also a very long read, but broken up well into chapters.

    1 person found this helpful

  • (2/5)

    1 person found this helpful

    Way overrated and out of date. There are some investment principles that would not change over time, but those covered in the book appear to be too elementary for any professionals.

    1 person found this helpful

  • (4/5)
    A penny saved is a penny earned ... and if invested for 20 years, compounded daily at an average of 6% you'll have $.03 more in your retirement fun ...
  • (4/5)
    I read it for the 2nd time - the first time I quit it after 100 pages.
    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.