By Warren Buffet :
I read the first edition of this book early in1950, when I was nine-
teen. I thought then that it was by far the best book about investing ever written, I still think so.
To invest successfully over a lifetime does not require a straso-
spheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual frame work for making decisions and the ability to keep emotions from corroding that framework. This book precisely and clearly prescribes that framework. You must supply the emotional discipline.
If you follow the behavioural and business principles that Graham advocates--and if you pay special attention to the invaluable advise in Chapters 8 and 20 --you will not get a poor results from your investments ( That represents more of an accomplishments than you might think. ) Whether you achieve outstanding results will depend on the amplitude of stock market folly that prevails during your investing career. The sillier the market's behaviour, the greater the opportunity for the business-like investor. Follow Graham and you will profit from folly rather than participate in it.
To me, Ben Graham was far more than an author or a teacher. More than any other man except my father, he influenced my life. Shortly after Ben's death in 1976, I wrote the following short remembrance about him in the Financial Analysis Journal. As you read the book, I believe you'll perceive some of the qualities I mentioned in this tribute...... Warren Buffet
A Note About Benjamin Graham : Jason Zweig
Who was Benjamin Graham and Why should we listen to him ?
Graham was not only one of the best investor who ever lived; he was also the greatest practical investment thinker of all time. Before Graham, money managers behaved like a medieval guild, guided largely by superstition, guesswork, and arcane rituals. Graham's Security Analysis was the text book that transformed this musty circle into a modern profession.
And The Intelligent Investor is the first book over to describe, the individual investors, the emotional framework and analytical tools that are essential to financial success.
It remains the best book on investing ever written for the general public.
( Benjamin Graham : 1894-1974 )
Personally, I am hugely benefited from the reading of the book and more for trying to adopt some very simple things, which are explained easily in the book.
My humble tribute to this Great Man.....
Atul
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