Benjamin Graham’s famous book “The Intelligent Investor” is recognized as one of the most significant and influential works on value investing ever written.
Graham’s main thesis is that investing should be a rational and systematic process that involves analyzing companies and their financial statements in order to determine their true intrinsic value. In order to guard against the downside risks of investment, he also emphasises the significance of margin of safety, or the difference between a company’s intrinsic worth and its market price.
There are two main portions to the book. The first part of the book is explained and devoted to the fundamentals of investing which cover topics including the necessity of creating a long-term investment plan, the distinction between investing and speculating, the risks associated with market volatility, and the pitfalls of emotional investing.
The second section of the book is more practical and provides a detailed guide to analyzing individual stocks and bonds. In order to ascertain a company’s intrinsic value, Graham outlines a set of actions that investors should take, such as examining the financial statements, comprehending the business model, and evaluating the management team.
Throughout the book, Graham emphasizes the importance of discipline, patience, and a rational approach to investing. He also cautions against overconfidence and encourages investors to constantly reassess their assumptions and strategies.
Overall, “The Intelligent Investor” is a timeless classic that provides valuable insights into the principles and practices of value investing. It is a must-read for everybody who wants to build a successful long-term investment portfolio
For in-depth details you can download the book,The Intelligent Investor PDF in Hindi given below.