the intelligent investor revised edition

We do not hesitate to declare this approach is as fallacious as it is popular. We have not known a single person who has consistently or lastingly make money by thus “following the market”. No statement is more true and better applicable to Wall Street than the famous warning of Santayana: “Those who do not remember the past are condemned to repeat it”. The purpose of this book is to supply, in the form suitable for laymen, guidance in the adoption and execution of an investment policy. In the end, how your investments behave is much less important than how you behave.

xiii)īy developing your discipline and courage, you can refuse to let other people’s mood swings govern your financial destiny. Only by insisting on what Graham called the “ margin of safety” – never overpaying, no matter how exciting an investment seems to be – can you minimize your odds of error. No matter how careful you are, the one risk no investor can ever eliminate is the risk of being wrong. The intelligent investor is a realist who sells to optimists and buys from pessimists. The sillier the market’s behavior, the greater the opportunity for the business like investor. What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. Timeless Investing Quotes from The Intelligent Investor: By purchasing through the above link, this site will receive a small commission without costing you anything extra.

If you could only buy one investment book in your lifetime, this would probably be the one. You may want to consider purchasing the The Intelligent Investor (Revised Edition), Updated with New Commentary by Jason Zweig (affiliate link). I have included the page number for each quote for easy reference. They provide an interesting and valuable perspective of, what may be, the greatest investing book ever written. While preparing for The Intelligent Investor Book Review I underlined the great quotes from the book.

The intelligent investor revised edition