The Intelligent Investor - Benjamin Graham
By far the best book on investing ever written. - Warren Buffett. To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. - Warren Buffett. Graham core principles, which are at least as valid today as they were during his lifetime: A stock is not just a ticker symbol or an electronic blip; it is an ownership interest in an actual business, with an underlying value that does not depend on its share price. The Market is a pendulum that forever swings between unsustainable optimism and unjustified pessimism. The intelligent investor is realistic who sells to optimists and buys from pessimists. The future value of every investment is a function of its present price. The higher the price you pay, the lower your return will be. - No matter, how careful you are, the one risk no inve