The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition)

Right now with all of wall street's shenanigans it is hard to determine if the company's value is truly stated. Plus with derivatives taking over the marketplace it is almost impossible to just stick to one approach to investing. Especially in the short term. That is why I recommend the book "Futures For Small Speculators" in addition to this book if you want a strategy for the short term and the long term style of investing that will be necessary in the 21st century.


Nothing new here   July 25, 2003
 6 out of 138 found this review helpful

Why would anyone actually spend money on something like this is my question. We've heard it all before, and our portfolios have collapsed along with everyone else's. Why does this author get a big advance when the rest of the world sees their investments fall apart? It just isn't fair!


Skip it   July 25, 2003
 22 out of 31 found this review helpful

The updated commentary makes this book a more enjoyable version than previous editions. If however you are already a believer in the Grahm school of thought you might as well read Security Analysis and skip this one. Security Analysis is FAR more in depth. For those of you who do not believe in the Grahm method, this probably won't convince you. I give this book four stars simply because it qualifies as some sort of classic, as far as investment books go. And Mr. Zwieg has done a good job including more current info and examples.


Sound advice   July 16, 2003
 8 out of 11 found this review helpful

This book represents all things solid and stable in the world of stock market fluctuations that can turnabout on you in a second. Graham gives good advice that helps to avoid the common errors most people make in the stock market. The only gripe is its a rather droll and dry read. But if you stick through it and finish it, you'll find yourself much wiser.


A worthwhile read, with relevant commentary   July 14, 2003
 141 out of 146 found this review helpful

Graham's writing is clear, concise and level-headed. He warns against unreasonable financial expectations and proceeds to explain his theories in sufficient detail to be worthwhile, without being over the comprehension of the layman interested in investing.

The book is lengthy and "solid", as opposed to other finance books that hope to explain investment in 100-200 pages. Topics include stocks vs. bonds, inflation, security analysis, and margin of safety (Graham's analysis of the assets of a company in relation to its debt). Zweig's commentary is useful, with footnotes to clarify historical references and, occasionally, demonstrate instances where Graham's predictions proved untrue. At the end of each chapter, Zweig uses recent (up to early 2003) examples of Graham's concepts to make things clearer to modern readers. (Graham's text itself is his 1973 revision to the original 1949 edition.) Also helpful are numerous references to online articles at various sites (I cannot yet vouch for these links' present state.)

Based on my understanding, I highly recommend this edition to anyone interested in this book. I feel that I gleaned more from this annotated edition than I would have from the original, without having to conduct additional research.