The Intelligent Investor
by Scott Beaton
The Intelligent Investor, written by expert investor Benjamin Graham, covers the principles of value investing focusing on stocks and bonds. Benjamin Graham's success with investing has been unparalleled, but those who follow his methods have been rewarded for making disciplined and intelligent investment decisions.
With updated commentary from Jason Zweig, it is easy to compare the fundamentals used in the 60's and 70's with companies today. The book is easy to pick up even for inexperienced investors. The content is organized in such a way that anyone can learn the basics and apply the fundamentals. More important than the fundamentals of valuing companies, the book dives into the mentality and discipline that investors need to ensure success.
Beyond learning the principles of being the decision maker, the book delves into the world of selecting advisors. This is an important topic as it covers the keys to finding advisors who balance their client's needs, risk tolerance and preferred investment style.
I first read this book in 2009 while I was an investment representative for a brokerage. I picked it up again in 2010 to review some key sections and I plan on reading it again in the near future before attending a more advanced seminar on value investing. There is a lot of value to be drawn from The Intelligent Investor, making it a staple text on the shelf for any investor.
The Intelligent Investor is a must-read for anyone with interest in self-directed investing and I highly recommend it for everyone else too.