The Intelligent Investor Rev Ed. Audible Audio Edition: Benjamin Graham, Luke Daniels, HarperAudio: Amazon.ca: Audible Audiobooks Pdf/Epub

Download ✓ PDF, DOC, TXT or eBook ✓ Benjamin Graham

Download ✓ PDF, DOC, TXT or eBook ✓ Benjamin Graham Benjamin Graham ✓ 0 Free read The Intelligent Investor Rev Ed. Audible Audio Edition: Benjamin Graham, Luke Daniels, HarperAudio: Amazon.ca: Audible Audiobooks Summary ✓ 0 The Classic Text Annotated to Update Graham s Timeless Wisdom for Today s Market Conditions The greatest investment advisor of the th century Benjamin Graham taught and inspired people worldwide Graham s philosophy of value investing which shields investors from substantial error and teaches them to develop long term strategies has made The Intelligent Investor the stock market Bible ever sin. If you wanted one and only one take away from this book it s the following tip An investment operation is one which upon thorough analysis promises safety of principal and an adeuate return Operations not meeting these reuirements are speculative The rest of the book is about telling you how to tell the difference eg buying a stock today hoping that it will go up tomorrow WOULD NOT be investing and how to analyse a companies financialsI began this book thinking I might have a side hobby of picking individual stocks as a side hobby This book dispelled me of the glamour of that notion As Benjamin Graham himself notes a passive investor someone who invests to at least match the average return of the stock market can enoy success with a minimum of time while an enterprising investor someone who works to beat the stock market would only have a reasonable chance of success after doing lots of work as analysis and also having the necessary intellectual aptitude Being an enterprising investor isn t for me because I can t dedicate the time to adeuately research companies as he teaches in his book I suspect that my situation would be the same as 99% of other people who want to invest their moneyWhat the book did most effectively for me is resolve my latent Dunning Kruger effect where I imagined I could beat the intelligent people of Wall Street at their own game I found the chapter commentaries by Jason Zweig to be especially helpful at highlighting amateur speculators who jumped into hot trends like dot com companies right before the industry collapsed Both Jason and Ben work painstakingly to illustrate how hard it is to do the work of properly evaluating a company and establishing its true value vs its current price on the stock market or its book value the balance of how much the companies assets are worth after already accounting for debts and liabilitiesThe book helped me become literate about the different forms of investments available to me and the merits and handicaps of each Bonds Preferred Stocks ETF s and Treasury Bills meant nothing to me before reading the book Now I have a fair enough grasp of all investment tools to know what I m getting into if I should ever choose to invest The book is a long read as it goes through the in depth process of educating a lay person like myself but it does its job well In that sense the book has aged marvelously with the help of modern commentary by Jason ZweigOne drawback for me is that at various points Graham and Zweig tried to discuss how to address tax on capital income best but the advice was only relevant to an American As a Canadian I skipped those chapters and I had to research for myself about best reducing the taxable amount on my investment gains Canadians might find a similar book written by a Canadian to be a better choice Better yet read both and be even well prepared for investing on your ownIn the end I decided that a balanced portfolio of ETF s tracking stocks and Canadian bonds Being able to buy these on my own without being hand held by a broker means that this book will probably already be saving me hundreds of dollars by the end of the year in management fees Trust me this book will pay for itself many times with sensible and sober adviceIn the future I might do some angel investing for small start ups that I m familiar with or other non publicly traded investment opportunities I ll only be doing that after reading many other books of the same caliber as this one Even then I ll be considering Graham s sagely advice to invest based on my careful assessment of what a company is actually worth or in his words to invest only if you would be comfortable owning a stock even if you had no way of knowing its daily share price

Summary The Intelligent Investor Rev Ed. Audible Audio Edition: Benjamin Graham, Luke Daniels, HarperAudio: Amazon.ca: Audible AudiobooksThe Intelligent Investor Rev Ed. Audible Audio Edition: Benjamin Graham, Luke Daniels, HarperAudio: Amazon.ca: Audible Audiobooks

Download ✓ PDF, DOC, TXT or eBook ✓ Benjamin Graham Benjamin Graham ✓ 0 Free read The Intelligent Investor Rev Ed. Audible Audio Edition: Benjamin Graham, Luke Daniels, HarperAudio: Amazon.ca: Audible Audiobooks Summary ✓ 0 Ce its original publication in Over the years market developments have proven the wisdom of Graham s strategies While preserving the integrity of Graham s original text this revised edition includes updated commentary by noted financial journalist Jason Zweig whose perspective incorporates the realities of today s market draws parallels between Graham s examples and today s financial headline. If you invest then this is a must read If you want to invest then read this also If you wanna stay broke don t read it haha

Download ✓ PDF, DOC, TXT or eBook ✓ Benjamin Graham

Download ✓ PDF, DOC, TXT or eBook ✓ Benjamin Graham Benjamin Graham ✓ 0 Free read The Intelligent Investor Rev Ed. Audible Audio Edition: Benjamin Graham, Luke Daniels, HarperAudio: Amazon.ca: Audible Audiobooks Summary ✓ 0 S and gives listeners athorough understanding of how to apply Graham s principles Vital and indispensable this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever listen on how to reach your financial goals PLEASE NOTE When you purchase this title the accompanying reference material will be available in your Library section along with the aud. This book is perhaps the most important and insightful book on investing and an eternal classic It is not a book that promises How to become rich or Mastering Stock market in a week or Beating the market made easy or any shortcut to a uick buck The book teaches three powerful lessons of how one can minimize the odds of suffering irreversible losses maximize the chance of achieving sustainable gains practice emotional control and behavior to help the investor achieve full potentialThe book is about investing and having said that investing is for the long term Short term investing is like saying one is a spendthrift miser While long term investors buy stocks or bonds for its intrinsic value and hold them the short termers play on its price like a video game high on dopamine seeing price patterns While the intrinsic value of the security is stable the markets built upon the greed and fear of speculators fluctuate widely and it is this constant flow of price movements that is the juice of speculationThe intelligent investor is the one who estimates the value of a stock based on some key parameters like the company s long term prospects uality of management financial strength and capital structure dividend record and current dividendGraham lists two types of intelligent investors The active or enterprising who does continuous researching selecting and monitoring a dynamic mix of stocks bonds and mutual funds The passive or defensive investor on the other hand creates a permanent portfolio that runs on autopilot and reuires no further effort but generates very little excitement argues the author so elegantly uoting the investment thinker Charles Ellis the enterprising approach is physically and intellectually taxing while the defensive approach is emotionally demandingFor the long term defensive investor who has abundant emotional courage not to be distracted by daily price movements there is no need to look at the daily price In fact the investor would be better off if his stocks had no market uotation at all for he would be spared the mental anguish caused by other persons mistakes of judgement We don t check the price of our house every hour The intelligent investor would make use of any opportunity if a good company is facing a temporary crisis and add shares to his portfolio at lower price In cases of extreme exuberance it is also wise to sell if the price seems too high to be real A prudent investment methodology would be to add on of high uality stocks on a regular basis thus paving way for dollar cost averaging A well diversified stock and bond portfolio ensures long term risk mitigationThough the book is highly acclaimed in investment circles in practice only a miniscule of market participants adhere to the key principles the world over Hence situations like the Dot com bubble the financial crisis of the last decade and the collapse of high priced so called high growth stocks of unworthy and nefarious companies happen repeatedly A man is known by the books he reads said Ralph Waldo Emerson Invest in companies that have proven track record stellar management capabilities and high ethical standards of corporate citizenry Being an intelligent investor is a matter of character than brain is the key message of this great tome