Disenfranchised with the high cost and lackluster performance of her IRA, college savings and other retirement accounts handled by a full-service broker, Ruth moved her retirement money to a self-directed IRA in 2015. After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. Principle #3 is to invest in companies you believe will generate profits through their ongoing business operations. I stopped reading my other book and read this book like crazy. And since you wonât be in the position to operate the business yourself, you need to know the company is headed by a management team that will run the business competently, efficiently and honestly. We analyze and compare tools to help you make the best decisions for your personal financial situation. Prime members enjoy FREE Delivery and exclusive access to music, movies, TV shows, original audio series, and Kindle books. In simpler terms, before investing in a business, you should make sure you understand and believe in the âwhatâ and âwho.â The same should be true of investors, hence Grahamâs key principles #1 and #2.
The book is written by Benjamin Graham who was Warren Buffett’s lecturer at Columbia University. I think one of the biggest contributions of Grahamâs work is his clear distinction between a speculator and an investor. He says that stock is an ownership interest in a company and is something completely opposite to speculation, day trading or anything like that. You can follow Ruth on: You can trust the integrity of our balanced, independent financial advice. 12,251 global ratings | 4,228 global reviews, Reviewed in the United States on December 29, 2017.
Time for this book to retire. In fact Buffet named one of his kids after Graham. Have confidence in your own analysis and observations. The Intelligent Investor should be read by all investors as a foundation to developing a sound investing plan. Your email address will not be published. The same lessons applied to specific industries and companies at the time of the writing have obvious parallels to different industries and companies today. Benjamin Graham (May 8, 1894 – September 21, 1976) was an American economist and professional investor. Important takeaways: You have to make your own investment decisions based on doing the analysis — nobody else can do it for you, not even those professionals who offer their recommendations to you. Investor Junkie has advertising relationships with some of the offers listed on this website. Until you have a good feel for a firmâs competitive environment, its challenges and opportunities, and its strengths and weaknesses, you donât really know enough to be investing in that business. Try finding a handful of stocks with a price to book ratio of less than 1.5, or companies with a recommended current ratio (current assets / current liabilities) of at least 2:1.
Refresh and try again. Warren Buffet calls out, "(this is) by far the best book on investing ever written.".
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