The Intelligent Investor The Definitive Book on Value Investing

75th Anniversary Edition

The classic work on investing, filled with sound and safe principles that are as reliable as ever, now revised with an introduction and appendix by financial legend Warren Buffett—one of the author’s most famous students—and newly updated commentaries on each chapter from distinguished Wall Street Journal writer Jason Zweig.

“By far the best book about investing ever written.”—Warren Buffett

Since its original publication in 1949, Benjamin Graham’s revered classic, The Intelligent Investor, has taught and inspired millions of people worldwide and remains the most respected guide to stock market investing. Graham’s timeless philosophy of “value investing” helps protect investors against common mistakes and teaches them to develop sensible investment strategies that will serve them throughout their lifetime.

Market developments over the past seven decades have borne out the wisdom of Graham’s basic policies, and in today’s volatile market, The Intelligent Investor remains essential. It is the most important book you will ever read on making the right decisions to protect your investments and build long-term wealth.

Featuring updated commentaries which accompany every chapter of Graham’s book—leaving his original text untouched—from noted financial journalist Jason Zweig, this newly revised edition offers readers an even clearer understanding of Graham’s wisdom and how it should be applied by investors today.

This definitive edition, a personal finance classic, reveals Graham's core investment principles for successful financial planning:

• Value Investing Philosophy: Learn Benjamin Graham's timeless strategy of buying stocks for less than their intrinsic worth, a method proven to protect investors from common mistakes.
• The Margin of Safety: Understand the central concept of investing that defends your principal against loss and lays the foundation for building long-term wealth.
• Timeless Investment Principles: Master sensible strategies for portfolio policy, learn to distinguish speculation from true investment, and manage market fluctuations without letting emotion guide your decisions.
• Modern Market Commentary: Gain a clearer understanding of how to apply Graham's wisdom today with updated chapter-by-chapter analysis from financial journalist Jason Zweig and insights from Warren Buffett.

Benjamin Graham (1894–1976), the father of financial analysis and value investing, has been an inspiration for generations of the world’s most successful businesspeople. He was also the author of Security Analysis and The Interpretation of Financial Statements.

Jason Zweig is a journalist and personal finance columnist for The Wall Street Journal. He is the author of Your Money and Your Brain (Simon & Schuster, 2007), one of the first books to explore the neuroscience of investing, and The Devil’s Financial Dictionary (PublicAffairs, 2015), a satirical glossary of Wall Street. A frequent commentator on television and radio, Zweig is also a popular public speaker who has addressed the American Association of Individual Investors, the Aspen Institute, the CFA Institute, the Morningstar Investment Conference, and university audiences at Harvard, Stanford, and Oxford. Zweig was for many years a trustee of the Museum of American Finance, an affiliate of the Smithsonian Institution. He serves on the editorial boards of Financial History magazine and The Journal of Behavioral Finance.