The Intelligent Investor
by Benjamin Graham
Graham's 1949 classic on value investing, with commentary added to each chapter in the modern edition: Mr. Market's moods, margin of safety, the distinction between investing and speculating, and the defensive versus enterprising investor. It is long and dated in examples, and the principles have protected a great many people from themselves.
Read it if…
you are serious about investing and want the foundational text, patiently read.
Skip it if…
you want a quick index-fund guide; the modern commentary is useful but the book is heavy.
Three things you will actually use
- Treat market swings as opportunities, not signals.
- Insist on a margin of safety.
- Know whether you are investing or speculating.
Do this first
Read chapter eight on Mr. Market and chapter twenty on margin of safety before anything else.
Our verdict
The foundational investing book; demanding and still relevant.
Compare with other Money books
The Bogleheads’ Guide to Investing
Taylor Larimore, Mel Lindauer and Michael LeBoeuf · Money
Thorough, sensible and dull in the best way.
CLICK TO SEE
The Little Book of Common Sense Investing
John C. Bogle · Money
The clearest case for indexing; short and convincing.
CLICK TO SEE
Browse all Money book reviews or get the free Reality Code Cheat Sheet.
As an Amazon Associate, WisdomDeck earns from qualifying purchases. Links marked “Click to see” go to Amazon. We are not paid for opinions, prices and availability are not shown here and change on Amazon, and we never see your purchase details. Nothing here is medical, legal or financial advice.