If you are interested in investing share market, then this post is for you.
Today we are sharing with you Best books of all time on investing ” The Intelligent Investor ” by Graham Benjamin.
in this post, we are sharing with you The Intelligent Investor PDF For Free.
so lets begin.
The Intelligent Investor PDF Download
First of all Lets Starts With Summery of this book.
First published in the year 1949, The Intelligent Investor, is considered the Bible for the stock market that contains strategies and wisdom to achieve your financial goals.
Author of this book is graham benjamin
Lets discuss little bit about graham Benjamin
British-born American economist, investor, and professor, Benjamin Graham, is known as the ‘father of value investing’ which has been discussed in detail in his two books Security Analysis and The Intelligent Investor.
Graham’s investment philosophy covers minimal debt, investor psychology, fundamental analysis, buy-and-hold investing, concentrated diversification, buying within safety margin, activist investing, and contrarian mindsets.
Over the years, investment market has been following teachings and strategies of Graham for growth and development. In the book, Graham has explained various principles and strategies for investing safely and successfully without taking bigger risks.
Modern-day investors still continue to use his proven and well-executed techniques for value investment.
The Intelligent Investor pdf google drive
The greatest investment advisor of the twentieth century, Benjamin Graham taught and inspired people worldwide. Graham’s philosophy of “value investing” — which shields investors from substantial error and teaches them to develop long-term strategies — has made The Intelligent Investor the stock market bible ever since its original publication in 1949.
Over the years, market developments have proven the wisdom of Graham’s strategies. While preserving the integrity of Graham’s original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig,
whose perspective incorporates the realities of today’s market, draws parallels between Graham’s examples and today’s financial headlines, and gives readers a more thorough understanding of how to apply Graham’s principles.
Vital and indispensable, this Harper Business Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.
Several rules I noted into my keep while reading Intelligent Investor Book
Investor buys the business [based on its price/value], speculator buys the stock [based on an absurd believe that he can foresee where the stock price will go].
፨ – The best way to earn adequate return without any trouble whatsoever is to invest into cheap (low maintenance cost) indexes; use dollar averaging (buy every month instead of once at a random point of time) for smoothing the luck involved.
፨ – For enterprising investor (willing to spend much more time), look for a diversified list of bargain issues (at least 30 issues, business values (i.e. net current asset and other related metrics) is below market cap)
፨ – During the bubble, hot industries and companies are getting overpriced. That could only be financed from somewhere. Partially that money are coming from well established old economy companies that lose the appeal. Thus, invest in such old economy companies while bubble grows, as soon as the bubble burst – undervalued companies would rise back.
፨ – Don’t ever buy IPOs! (See chapter for compelling arguments)
፨ – Don’t consider companies that do not pay dividends. Dividends – money firm pays you for providing capital, they belong to you. They cut a piece for reinvestment – payout ratio. If firm doesn’t pay dividends – invest all into growth so you could profit later – that’s a speculation. Moreover stock price would be more volatile because it should now rely on future rather than current prospects.
The Intelligent Investor, by Benjamin Graham, is probably the most important and influential value investing book ever written even Warren Buffet described it as “by far the best book ever written on investing”.
፨ If you could only buy one investment book in your lifetime, this would probably be the one.
፨ It had been 6 months since I last read The Intelligent Investor. I have enjoyed my personal “refresher course” in value investing.
Objective of The Intelligent Investor Book
፨ Benjamin Graham’s objective was to provide an investment policy book for the ordinary investor.
፨ He succeeded in putting seemingly hard concepts into terms that could be understood and, more importantly, implemented by the average investor.
፨ The typical investor has a tendency to “follow the market” when they should be employing portfolio risk management strategies. Instead, Graham gives us an alternative based on fundamental stock analysis.
፨ The goal is to learn how to avoid the pitfalls of allowing our emotions to control our investment decisions. Rather, Graham provides the foundation for making businesslike decisions.
The Intelligent Investor puts special emphasis on teaching:
1. Risk management through asset allocation and diversification.
2. Maximizing probabilities through valuations analysis and margin of safety.
3. A disciplined approach that will prevent consequential errors to a portfolio.
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