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THE INTELLIGENT INVESTOR
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The purpose of this book is to supply, in a form suitable for laymen,
guidance in the adoption and execution of an investment policy.
Comparatively little will be said here about the technique of
analyzing securities; attention will be paid chiefly to investment
principles and investors’ attitudes. We shall, however, provide a
number of condensed comparisons of specific securities—chiefly in
pairs appearing side by side in the New York Stock Exchange list—
in order to bring home in concrete fashion the important elements
involved in specific choices of common stocks.
But much of our space will be devoted to the historical patterns
of financial markets, in some cases running back over many
decades. To invest intelligently in securities one should be forearmed
with an adequate knowledge of how the various types of
bonds and stocks have actually behaved under varying conditions—
some of which, at least, one is likely to meet again in one’s
own experience. 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.”
BENJAMIN GRAHAM - Personal Name
2nd Edition
NONE
HE INTELLIGENT INVESTOR
Management
English
1643
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