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A lo largo de los años, la evolución del mercado ha comprobado lo sabias que han sido las estrategias enseñadas por Graham. A la vez que conserva la integridad del texto original, esta edición revisada incluye comentarios actualizados del famoso periodista financiero Jason Zweig, cuya perspectiva incorpora las realidades del mercado presente, traza paralelismos entre los ejemplos de Graham y los titulares financieros actuales, y brinda a los lectores una comprensión más plena de cómo hacer para aplicar dichos principios. Fundamental e indispensable, El inversor inteligente es el libro más importante que usted leerá jamás sobre cómo alcanzar sus objetivos en lo financiero.… (más)
Really good book. Though admittedly dry and boring at some points. The commentary really made up for that. Will definitely reread because there is a lot of stuff to swallow. ( )
As an ESL speaker, the writing from Graham was quite confusing at times. However, Jason Zweig helped me a lot. This is a great read for someone who just started to enter the finance industry in general. ( )
Most of the reviews I’ve read about the book only scratch the surface. Let me tell you this: this is the single source of investing guide you ever need.
That sounds like a bold statement, right? Obviously, there’s a catch. You need to read the book, cover to cover, appendices, commentaries, notes and all.
Benjamin Graham offers sufficient guidelines to start investing successfully, you just have to pay attention.
By reading all the references and all the comments (by the author or by Jason Zweig) you will learn everything there is to learn for: EPS, P/E, P/B, debt to equity, current ratio, dillution of stocks, financial statements shenanigans and much more.
I honestly dread every blog post and every reviewer who just resumes Benjamin Graham to: magic formula, Mr Market and market timing. He is about much more and you’ll soon find out how much false information there is online, by the sites that empower a magic formula or by those who twist his words.
In short, I honestly think The Intelligent Investor is a book that is a come-back book when re-calibrating or reviewing investment decisions.
Mentions: I have also read “The Interpretation of Financial statements” in parallel and also have a degree in basic accounting, so I might have found some info more comprehensible. ( )
Don't know how to rate a book like this: it won't appeal to everyone but it was exactly what I was looking for -- something like "stock investing from first principles". The main text of this book was last updated in 1972, but this edition includes 2003 commentary from Jason Zweig. Helpful to get a long view into how stock and bond markets operates over long periods of time. Lots of the advice (esp bond advice) is US-specific. Main thesis is: don't put money into stocks based on your expectations of future market prices, buy stocks as if you were buying a tiny chunk of the company. When doing so, buy stocks that are obviously underpriced compared to value, because then there's more room for something to go wrong. It's got one or two good fundamental ideas, and then proceeds to apply and unpack those as they apply to various situations. It's mostly well written and pretty engaging. ( )
Explains value investing in detail, with other generic financial concepts about stock markets, securities, market psychology, inflation etc. You'll learn: • The stock market’s history over 100 years, with key lessons on market psychology, stock price movements, and how to maximize returns over the long run. • The core principles and concepts of value investing, including: real returns after inflation, the difference between investment and speculation, and why/how to mitigate emotional impulses that could lead to bad investments. • The 2 main investment pathways (Defensive vs Enterprising), and the strategies/practices associated with each. • How to analyze securities (stocks, bonds and derivatives) and other investment insights, such as: considerations for other financial tools, engaging professional advice, and dividend policy.
Información procedente del conocimiento común inglés.Edita para encontrar en tu idioma.
"Through chances various, through all vicissitudes, we make our way...." -Aeneid
[Ch. 1 commentary] All of human happiness comes from one single thing: not knowing how to remain at rest in a room. -Blaise Pascal
[Ch. 2 commentary] Americans are getting stronger. Twenty years ago, it took two people to carry ten dollars' worth of groceries. Today, a five-year-old can do it. -Henny Youngman
[Ch. 3 commentary] You've got to be careful if you don't know where you're going, 'cause you might not get there. -Yogi Berra
[Ch. 4 commentary] When you leave it to chance, then all of a sudden you don't have any more luck. -Basketball coach Pat Riley
[Ch. 5 commentary] Human felicity is produc'd not so much by great Pieces of good Fortune that seldom happen, as by little Advantages that occur every day. -Benjamin Franklin
[Ch. 6 commentary] The punches you miss are the ones that wear you out. -Boxing trainer Angelo Dundee
[Ch. 7 commentary] It requires a great deal of boldness and a great deal of caution to make a great fortune; and when you have got it, it requires ten times as much wit to keep it. -Nathan Mayer Rothschild
[Ch. 8 commentary] The happiness of those who want to be popular depends on others; the happiness of those who seek pleasure fluctuates with moods outside their control; but the happiness of the wise grows out of their own free acts. -Marcus Aurelius
[Ch. 9 commentary] The schoolteacher asks Billy Bob: "If you have twelve sheep and one jumps over the fence, how many sheep do you have left?" Billy Bob answers, "None." "Well," says the teacher, "you sure don't know your subtraction." "Maybe not," Billy Bob replies, "but I darn sure know my sheep." -As told by Prof. Henry T. C. Hu of the University of Texas School of Law
[Ch. 10 commentary] I feel grateful to the Milesian wench who, seeing the philosopher Thales continually spending his time in contemplation of the heavenly vault and always keeping his eyes raised upward, put something in his way to make him stumble, to warn him that it would be time to amuse his thoughts with things in the clouds when he had seen to those at his feet. Indeed she gave him or her good counsel, to look rather to himself than to the sky. -Michel de Montaigne
[Ch. 11 commentary] "Would you tell me, please, which way I ought to go from here?" "That depends a good deal on where you want to get to," said the Cat. -Lewis Carroll, Alice's Adventures in Wonderland
[Ch. 12 commentary] You can get ripped off easier by a dude with a pen than you can by a dude with a gun. -Bo Diddley
[Ch. 13 commentary] In the Air Force we have a rule: check six. A guy is flying along, looking in all directions, and feeling very safe. Another guy flies up behind him (at "6 o'clock" -- "12 o'clock" is directly in front) and shoots. Most airplanes are shot down that way. Thinking that you're safe is very dangerous! Somewhere, there's a weakness you've got to find. You must always check six o'clock." -U. S. Air Force Gen. Donald Kutyna
[Ch. 14 commentary] He that resteth upon gains certain, shall hardly grow to great riches; and he that puts all upon adventures, doth oftentimes break and come to poverty: it is good therefore to guard adventures with certainties that may uphold losses. -Sir Francis Bacon
[Ch. 15 commentary] It is easy in the world to live after the world's opinion; it is easy in solitude to live after our own; but the great man is he who in the midst of the crowd keeps with perfect sweetness the independence of solitude. -Ralph Waldo Emerson
[Ch. 16 commentary] Thou which thou sowest is not quickened, except it die. -I Corinthians, XV:36
[Ch. 17 commentary] The wisdom god, Woden, went out to the king of the trolls, got him in an armlock, and demanded to know of him how order might triumph over chaos. "Give me your left eye," said the troll, "and I'll tell you." Without hesitation, Woden gave up his left eye. "Now tell me." The troll said, "The secret is, 'Watch with both eyes!'" -John Gardner
[Ch. 18 commentary] The thing that hath been, it is that which shall be; and that which is done is that which shall be done: and there is no new thing under the sun. Is there any thing whereof it may be said, See, this is new? it hath been already of old time, which was before us. -Ecclesiastes, I: 9-10
[Ch. 19 commentary] The most dangerous untruths are truths slightly distorted. -G. C. Lichtenberg
[Ch. 20 commentary] If we fail to anticipate the unforeseen or expect the unexpected in a universe of infinite possibilities, we may find ourselves at the mercy of anyone or anything that cannot be programmed, categorized, or easily referenced. -Agent Fox Mulder, The X-Files
Dedicatoria
Primeras palabras
Información procedente del conocimiento común inglés.Edita para encontrar en tu idioma.
The purpose of this book is to supply, in a form suitable for laymen, guidance in the adoption and execution of an investment policy.
Citas
Últimas palabras
Información procedente del conocimiento común inglés.Edita para encontrar en tu idioma.
To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.
A lo largo de los años, la evolución del mercado ha comprobado lo sabias que han sido las estrategias enseñadas por Graham. A la vez que conserva la integridad del texto original, esta edición revisada incluye comentarios actualizados del famoso periodista financiero Jason Zweig, cuya perspectiva incorpora las realidades del mercado presente, traza paralelismos entre los ejemplos de Graham y los titulares financieros actuales, y brinda a los lectores una comprensión más plena de cómo hacer para aplicar dichos principios. Fundamental e indispensable, El inversor inteligente es el libro más importante que usted leerá jamás sobre cómo alcanzar sus objetivos en lo financiero.
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