The Intelligent Investor

Historical Context and Significance

First published in 1949, Benjamin Graham's «The Intelligent Investor» is considered one of the most influential books on investing. Known as the «father of value investing», Graham introduced concepts that have become the foundation for many modern investment strategies. The book focuses on the principles of long-term investing and the importance of analyzing companies' financial metrics, countering speculative approaches. Graham introduced the concept of a «margin of safety», emphasizing the need to buy stocks at a price below their intrinsic value. His ideas have significantly influenced renowned investors like Warren Buffett, who called «The Intelligent Investor» the best book on investing. The book continues to be relevant and popular among investors, offering practical advice and philosophy that help make informed investment decisions.