I just finished part 1: General Approaches to Investment and it seemed alright. It was mostly about the mental approach to investing. Then, I get to part 2: Principles of Security Selection and can't help but to think that this is outdated. Is it, I mean it was written in the 40s?
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Do you have the version with Zweig's commentary? Some of the specifics are outdated but the philosophy is timeless.
x2. Get the updated version. Written right before 1970. Some of the material is outdated. (i.e. warrants, some accounting stuff, etc...)
As GoodBread said, the philosophy is the real value of this book. Graham teaches you how to think intelligently, how to view market pullbacks, ideas for undervalued security, and the concept of margin of safety.
Timeless stuff.
Why the hell is this in the trader's train section?
The monkeying around section would be far more appropriate.
There's still many long/short equity funds that are based on that general philosophy, it's obviously not outdated...
On another note though, I cant believe you can actually get through that book chapter by chapter.........
The examples and technical skills are obviously outdated, but the philosophy and approach to thinking about stockpicking is truly timeless.
Do a Google search of top investor required reading lists and you'll see The Intelligent Investor on nearly every one of them.
Ben Graham's The Intelligent Investor (Originally Posted: 06/08/2010)
Is is book as good as Warren Buffet claims? Is it getting better with age or has it lost most of its relevance in today's world?
Have people on this site read it?
Just wanted to gauge opinion
J x
Buying assets at a discount is always in style.
It has good information in it, but parts of it are boring as hell
really dense reading. he writes like an academic and i hate school so it wasn't that pleasant. read the cliff notes
most of it seems to be just an assault on active investing
Yyou want an assault on active investing? Read "John Bogle on Investing: The First 50 Years"
Thick as a phone book and very repetitive. But he does make a good argument for indexing, especially for average joe's that don't specialize in investing.
Good book, get the one with Jason Zweig's commentary. I haven't finished it yet, but I like Security Analysis a lot more. As other's have said, there are some brutal parts, particularly the ones that compare old companies.
As Buffet and others have said, the only two chapters you really need to focus on are
Chapter 8 "Mr. Market" principles Chapter 20 "Margin of Safety"
Certainly a worthwhile read
I tried reading it a few years ago, but was too bored to do anything other than skim. This is coming from someone who read Natenburg for fun, hah.
Intelligent Investor by Benjamin Graham (Originally Posted: 07/28/2008)
Opinions about this book? Someone recommended me reading it, wanted to see what people here have to say about it? Since the book was written a while ago, are the fundamentals of it still useful and applicable? thanks
Another book someone recommended was Commono Stocks and Uncommon Profits by Philip Fisher.
tyia
its a great book, but my frd said its lil too hard to understand if you don't have finance/acct background.
If for some sick reason you (like me, I guess) really eat this stuff up. Even if you don't agree with the fundamentals of value investing and think the read is outdated, it's cool to see how finance was viewed 50 some odd-years ago.
wut are some good books you would all recommend then for current trading/investing strategies? More towards the investing strategies side though.
I've read The Intelligent Investor and, although the contents seem to appear old by today's standards, thought it to be an informative read. Another book I thought was good was Peter Lynch's "One Up on Wall Street".
As one poster alluded to earlier, these books are based off the value investing approach.
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