The Intelligent Investor: Difference between revisions

}}

 

== Introduction ==

 

'''''The Intelligent Investor''''' is {{Tooltip|Benjamin Graham}}’s 1949 guide to value investing, written to help ordinary investors pursue disciplined, long-term results rather than speculation.<ref>{{cite web |title=Financial planning – new materials |url=https://www.loc.gov/nls/new-materials/book-lists/financial-planning/ |website=National Library Service for the Blind and Print Disabled |publisher=Library of Congress |access-date=9 November 2025}}</ref> The book distinguishes between “defensive” and “enterprising” investors, frames market swings with the “{{Tooltip|Mr. Market}}” allegory, and makes “{{Tooltip|margin of safety}}” its central rule.<ref name="ORLY9780061745171" /> <ref>{{cite web |title=Graham & Doddsville – Issue 19 (Fall 2013) |url=https://business.columbia.edu/sites/default/files-efs/imce-uploads/Graham%20%26%20Doddsville%20-%20Issue%2019%20-%20Fall%202013.pdf |website=Heilbrunn Center, Columbia Business School |publisher=Columbia University |access-date=9 November 2025}}</ref> In the revised and annotated edition, Wall Street Journal columnist {{Tooltip|Jason Zweig}} adds chapter-by-chapter commentary alongside a preface by {{Tooltip|Warren E. Buffett}}.<ref>{{cite web |title=Title page — The Intelligent Investor, Rev. Ed. |url=https://www.oreilly.com/library/view/the-intelligent-investor/9780061745171/text/9780061745171_Titlepage.xhtml |website=O’Reilly |publisher=O’Reilly Media |access-date=9 November 2025}}</ref> {{Tooltip|HarperCollins}}’ 75th-anniversary Third Edition retains Graham’s original text and presents updated commentary, released on 22 October 2024.<ref>{{cite web |title=The Intelligent Investor, 3rd Ed. |url=https://www.harpercollins.com/products/the-intelligent-investor-3rd-ed-benjamin-grahamjason-zweig |website=HarperCollins |publisher=HarperCollins |date=22 October 2024 |access-date=9 November 2025}}</ref> Its reach has been broad: {{Tooltip|Fortune}} reported in 2021 that the book “has sold millions of copies,” and the publisher highlights Warren Buffett’s line that it is “by far the best book about investing ever written.”<ref>{{cite news |title=Why Warren Buffett’s “Bible of investing” still matters more than ever |url=https://fortune.com/2021/04/05/warren-buffett-bible-of-investing/ |work=Fortune |date=5 April 2021 |access-date=9 November 2025}}</ref><ref name="Harper2024">{{cite web |title=The Intelligent Investor, 3rd Ed. |url=https://www.harpercollins.com/products/the-intelligent-investor-3rd-ed-benjamin-grahamjason-zweig |website=HarperCollins |publisher=HarperCollins |date=22 October 2024 |access-date=9 November 2025}}</ref>

 

== Chapters ==

 

''—Note: The above summary follows the {{Tooltip|HarperBusiness Essentials}} revised edition (2003; ISBN 0-06-055566-1).''<ref name="OCLC1035152456">{{cite web |title=The intelligent investor : a book of practical counsel |url=https://search.worldcat.org/title/The-intelligent-investor-%3A-a-book-of-practical-counsel/oclc/1035152456 |website=WorldCat |publisher=OCLC |access-date=8 November 2025}}</ref> ''Chapter titles reflect the publisher-authorized e-book table of contents.''<ref name="ORLY9780061745171">{{cite web |title=Contents – The Intelligent Investor, Rev. Ed |url=https://www.oreilly.com/library/view/the-intelligent-investor/9780061745171/text/9780061745171_Contents.xhtml |website=O’Reilly |publisher=O’Reilly Media |access-date=8 November 2025}}</ref> ''For first-edition bibliographic details ({{Tooltip|Harper & Brothers}}, New York, 1949; xii + 276 pp.), see WorldCat.''<ref name="OCLC1723191">{{cite web |title=The intelligent investor, a book of practical counsel |url=https://www.worldcat.org/title/1723191 |website=WorldCat |publisher=OCLC |access-date=8 November 2025}}</ref><ref name="OCLC559885174">{{cite web |title=The Intelligent Investor: a book of practical counsel |url=https://search.worldcat.org/title/559885174 |website=WorldCat |publisher=OCLC |access-date=8 November 2025}}</ref>

 

== Background & reception ==

 

🌍 '''Impact & adoption'''. The book’s concepts are embedded in {{Tooltip|Columbia Business School}}’s value-investing tradition, where the school’s resources and communications regularly foreground Graham’s approach and list the revised ''Intelligent Investor'' among recommended readings.<ref>{{cite web |title=Successful Value Investing: Finding Gems Amid the Junk |url=https://business.columbia.edu/insights/finance-economics/successful-value-investing-finding-gems-amid-junk |website=Columbia Business School – Insights |publisher=Columbia University |date=10 February 2023 |access-date=9 November 2025}}</ref> University syllabi continue to assign chapters from the book—for example, Rutgers’ {{Tooltip|Applied Portfolio Management}} course and {{Tooltip|NYU Stern}}’s value-investing seminars—illustrating its ongoing use in curricula.<ref>{{cite web |title=Applied Portfolio Management (syllabus) |url=https://myrbs.business.rutgers.edu/sites/default/files/syllabi/390-finance/22_390_658.pdf |website=Rutgers Business School |publisher=Rutgers University |access-date=9 November 2025}}</ref><ref>{{cite web |title=Value Investing (course syllabus) |url=https://pages.stern.nyu.edu/~sternfin/Rosenwald/Syllabus.pdf |website=NYU Stern School of Business |publisher=New York University |date=30 September 2021 |access-date=9 November 2025}}</ref> Beyond classrooms, the book’s title has become a recurring media reference point through {{Tooltip|The Wall Street Journal}}’s ''Intelligent Investor'' column.<ref>{{cite web |title=Jason Zweig — author page |url=https://www.wsj.com/news/author/jason-zweig |website=The Wall Street Journal |publisher=Dow Jones & Company |access-date=9 November 2025}}</ref>

 

 

{{Youtube thumbnail | NfCefUkO00c | Animated summary by Productivity Game (11 min)}}

{{Youtube thumbnail | t15u2MUxax8 | Jason Zweig on principles from ''The Intelligent Investor'' (26 min)}}

 

{{Rich Dad, Poor Dad/thumbnail}}

{{Think and Grow Rich/thumbnail}}

{{The Almanack of Naval Ravikant/thumbnail}}

{{Secrets of the Millionaire Mind/thumbnail}}

{{Insert before References}}

 

== References ==

{{reflist}}

 

{{Insert bottom}}