The Intelligent Investor

A summary of the book “The Intelligent Investor” by Benjamin Graham

Warren Buffet described The Intelligent Investor as “the best book on investing ever written.”. Graham’s lessons are timeless for investors in any country, market, or era. This summary aims to present the principles (which are timeless) from the book without considering and describing investing in Graham’s day (which is less relevant for the modern investor). I would highly recommend reading the entire book. However, if you find the 600 pages too intimidating or dry, focus on chapters 8 and 20, by far Graham’s most impressive ideas.

Introduction to Investing

“To invest successfully over a lifetime one does not require a stratospheric IQ, unusual business insights, or inside information. What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework.”

— Warren Buffett

This book provides the framework for making investment decisions. You’re responsible for keeping your emotions in check.