The Intelligent Investor Rev Ed. Audible Audiobook – Unabridged

Benjamin Graham (Author), Luke Daniels (Narrator), HarperAudio (Publisher)

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The Classic Text Annotated to Update Graham's Timeless Wisdom for Today's Market Conditions

The greatest investment advisor of the 20th century, Benjamin Graham taught and inspired people worldwide. Graham's philosophy of "value investing" - which shields investors from substantial error and teaches them to develop long-term strategies - has made The Intelligent Investor the stock market Bible ever since its original publication in 1949.

Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives listeners a more thorough understanding of how to apply Graham's principles.

Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever listen on how to reach your financial goals.

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your My Library section along with the audio.

Listening Length

17 hours and 48 minutes
Author

Benjamin Graham
Narrator

Luke Daniels
Audible release date

7 July 2015
Language

English
Publisher

HarperAudio
ASIN

B00ZT2Y4BK
Version

Unabridged
Program Type

Audiobook
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Product details

Listening Length	17 hours and 48 minutes
Author	Benjamin Graham
Narrator	Luke Daniels
Whispersync for Voice	Ready
Audible.com.au Release Date	07 July 2015
Publisher	HarperAudio
Program Type	Audiobook
Version	Unabridged
Language	English
ASIN	B00ZT2Y4BK
Best Sellers Rank	441 in Audible Books & Originals (See Top 100 in Audible Books & Originals) 6 in Introduction to Investing (Books) 6 in Investing & Trading 10 in Personal Finance (Audible Books & Originals)

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Top reviews from Australia

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Yurong ZHANG

DON'T BUY FROM THIS SUPPLIER

Reviewed in Australia on 30 October 2019

Verified Purchase

Despite the content, the quality of the book is sooooo horrible.
The pictures are token the second I opened the parcel.
DON'T buy from this supplier.
So disappointed.

17 people found this helpful

Helpful

David N

Blah, Blah - Boring Read

Reviewed in Australia on 15 December 2019

Verified Purchase

I was very keen to read this book but would not recommend it. It has a lot of dated and very detailed information that really means nothing in todays world. I had to troll through 700 odd pages to find half a dozen good points that could have been nicely summaries using only two pages. I gave it three stars because I can see it would have been very relevant book decades ago.

8 people found this helpful

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Redinel

Dab delivery

Reviewed in Australia on 25 September 2019

Verified Purchase

This should be a new book but all the corners are broken as you see on the picture, yes i can have a new if i send it back but i will cost money again will be half of the money of the book, so i have no option that keep it like this.

I'm Complaining about the delivery not the book, the book is very interesting and well done.

10 people found this helpful

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Andjelika Opacak

New condition my ass

Reviewed in Australia on 17 December 2019

Verified Purchase

Product was advertised as new, however, the condition upon arrival suggest it clearly wasn’t. The side of the back cover was weathered and there are black marks/stains all along the edge of the pages. DISAPPOINTED!

7 people found this helpful

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Erin Gourlay

I’m sure the book is great but the quality is really poor - looks used

Reviewed in Australia on 22 October 2019

Verified Purchase

Can’t comment on the content as I haven’t read it yet - but the quality of the book is really poor. Edges are all bent and plastic is tearing off the cover. Looks like a cheap copy of the actual edition or second hand. Would go with the kindle version or a different supplier next time.

7 people found this helpful

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PeterC Sydney

Good luck reading this - heavy going.

Reviewed in Australia on 27 July 2020

Verified Purchase

Not at all what I expected. Very in depth, heavy going material. Best to research if this is what you are looking for. First edition was apparently written in the 1950's, and updated in the 1970's.

One person found this helpful

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Channing

Reviewed in Australia on 15 September 2021

Verified Purchase

Good book but the printing is horrible. It is missing letters, blurry and a lot of the pages are not even inline with the page! Meaning there is an angle for the text line and the page line! Wouldn’t recommend to buy from this supplier! Some of the text are printed inside of the joint! Unbelievable!!

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Larry

Might be a returned item?

Reviewed in Australia on 18 September 2019

Verified Purchase

Just received, little dirty, some sort of oil at the cover, dirts at the side of the book as well, not sure why it’s not sealed by plastic cover but anyway

One person found this helpful

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Top reviews from other countries

BhaveshB.O.T™

🔴#1 HONEST(Unbiased) REVIEW of The Intelligent Investor "Investment Book For Lifetime"

Reviewed in India on 30 May 2019

Verified Purchase

*Edition: I found commentary very useful (though often distracting). If you are not a professional - you'll appreciate the commentaries and epilogue - read it first? It's very inspiring.

*Book: "You either get the idea in the first five minutes, or you don't get it at all", said Warren Buffet in the epilogue.
- I would add - you don't necessarily need to read all 550 pages, but you must read through the idea of value investing - and it will change your way of looking at the world.
- I always felt confused and amazed by listening to all the ridiculous fuzz that comes from the Wall Street through TV and the internet. The book explains why.

🔴Several rules I noted into my keep:
፨ - Investor buys the business [based on its price/value], speculator buys the stock [based on an absurd believe that he can foresee where the stock price will go].
፨ - The best way to earn adequate return without any trouble whatsoever is to invest into cheap (low maintenance cost) indexes; use dollar averaging (buy every month instead of once at a random point of time) for smoothing the luck involved.
፨ - For enterprising investor (willing to spend much more time), look for a diversified list of bargain issues (at least 30 issues, business values (i.e. net current asset and other related metrics) is below market cap)
፨ - During the bubble, hot industries and companies are getting overpriced. That could only be financed from somewhere. Partially that money are coming from well established old economy companies that lose the appeal. Thus, invest in such old economy companies while bubble grows, as soon as the bubble burst - undervalued companies would rise back.
፨ - Don't ever buy IPOs! (See chapter for compelling arguments)
፨ - Don't consider companies that do not pay dividends. Dividends - money firm pays you for providing capital, they belong to you. They cut a piece for reinvestment - payout ratio. If firm doesn't pay dividends - invest all into growth so you could profit later - that's a speculation. Moreover stock price would be more volatile because it should now rely on future rather than current prospects.

The Intelligent Investor, by Benjamin Graham, is probably the most important and influential value investing book ever written even Warren Buffet described it as “by far the best book ever written on investing”.

፨ If you could only buy one investment book in your lifetime, this would probably be the one.
፨ It had been 6 months since I last read The Intelligent Investor. I have enjoyed my personal “refresher course” in value investing.

🔴Objective of The Intelligent Investor Book
፨ Benjamin Graham’s objective was to provide an investment policy book for the ordinary investor.
፨ He succeeded in putting seemingly hard concepts into terms that could be understood and, more importantly, implemented by the average investor.
፨ The typical investor has a tendency to “follow the market” when they should be employing portfolio risk management strategies. Instead, Graham gives us an alternative based on fundamental stock analysis.

፨ The goal is to learn how to avoid the pitfalls of allowing our emotions to control our investment decisions. Rather, Graham provides the foundation for making businesslike decisions.

🔴The Intelligent Investor puts special emphasis on teaching:
1. Risk management through asset allocation and diversification.
2. Maximizing probabilities through valuations analysis and margin of safety.
3. A disciplined approach that will prevent consequential errors to a portfolio.

🔴If you have any Doubt regarding this Review or this Product, then Feel Free to Contact me or Just ask me by commenting below.I Hope this Review was Helpful.Write reviews, help others, happy shopping.
Thank You for Reading this Review.
-●➽ʙʜᴀᴠᴇsʜ ʙ.ᴏ.ᴛ 🔥

1,907 people found this helpful

B.Sudhakar Shenoy

Investing is more a matter of ‘character’ than ‘brain’

Reviewed in India on 14 August 2018

Verified Purchase

This book is perhaps the most important and insightful book on investing, and an eternal classic. It is not a book that promises ‘How to become rich…’ or ‘Mastering Stock market in a week….’ or ‘Beating the market made easy…’ or any shortcut to a quick buck. The book teaches three powerful lessons of how one can:

- minimize the odds of suffering irreversible losses
- maximize the chance of achieving sustainable gains
- practice emotional control and behavior to help the investor achieve full potential.

The book is about investing and having said that, investing is for the long term. Short term investing is like saying one is a spendthrift miser. While long term investors buy stocks or bonds for its intrinsic value and hold them, the 'short termers' play on its price like a video game, high on dopamine, ‘seeing price patterns’. While the intrinsic value of the security is stable, the markets, built upon the greed and fear of speculators, fluctuate widely and it is this constant flow of price movements that is the juice of speculation.

The intelligent investor is the one who estimates the value of a stock based on some key parameters like the company’s long-term prospects, quality of management, financial strength and capital structure, dividend record, and current dividend.

Graham lists two types of intelligent investors. The ‘active’ or ‘enterprising’ who does continuous researching, selecting and monitoring a dynamic mix of stocks, bonds and mutual funds. The ‘passive’ or ‘defensive’ investor on the other hand, creates a permanent portfolio that runs on autopilot and requires no further effort (but generates very little excitement) argues the author so elegantly. Quoting the investment thinker Charles Ellis, ‘’the enterprising approach is physically and intellectually taxing, while the defensive approach is emotionally demanding’’.

For the long-term defensive investor, who has abundant emotional courage not to be distracted by daily price movements, there is no need to look at the daily price. In fact, the investor ‘’would be better off if his stocks had no market quotation at all, for he would be spared the mental anguish caused by other persons’ mistakes of judgement.’’ We don’t check the price of our house every hour! The intelligent investor would make use of any opportunity if a good company is facing a temporary crisis and add more shares to his portfolio at lower price. (In cases of extreme exuberance, it is also wise to sell if the price seems too high to be real). A prudent investment methodology would be to add on more of high quality stocks on a regular basis, thus paving way for ‘dollar cost averaging’. A well-diversified stock and bond portfolio ensures long term risk mitigation.

Though the book is highly acclaimed in investment circles, in practice, only a miniscule of market participants adhere to the key principles the world over. Hence, situations like the Dot com bubble, the financial crisis of the last decade and the collapse of high priced so called ‘high growth stocks’ of unworthy and nefarious companies happen repeatedly.

‘’A man is known by the books he reads” said Ralph Waldo Emerson. Invest in companies that have proven track record, stellar management capabilities and high ethical standards of corporate citizenry. Being an intelligent investor is more a matter of ‘character’ than ‘brain’, is the key message of this great tome.

635 people found this helpful

Indranil Dey

paper quality all of this book is very good.

Reviewed in India on 17 November 2017

Verified Purchase

Little hard to understand for beginners. Otherwise this book is a jewel of investing.
Printing, font size, paper quality all of this book is very good.

294 people found this helpful

Matt Bourne

A must for anyone curious about investing...

Reviewed in the United Kingdom on 20 September 2018

Verified Purchase

Very boring and you'll have to fight your way through every page, but it's a finance book so what do you expect? I wanted to learn more about investing after covering some basics in Rich Dad, Poor Dad, and this book did just that, but the basic message for me was play it safe and go for a good mutual fund, made me realise how complicated and scary investing is and made sure that I will never have the patience or enough interest to do my own investing. Please read this before starting your investing journey I'm sure it will save you some money and stress in the future whether is scares or inspires you.

99 people found this helpful

Amazon Customer

A great read for a 28-year-old

Reviewed in Canada on 10 February 2018

Verified Purchase

In the midst of sharp rises of cryptocurrency, booming stock market, it was difficult for me, as a 28-year-old, to sit down and read an "old" book like this one. FOMO occurred daily, but I kept reading without giving in to act to the market "just because things are going up". If Security Analysis by Mr. Graham is the science of investment, then the Intelligent Investor would be the art of investment.

I made the first attempt to read this book 2 years ago but had failed. At that time, I knew little about the stock market, the economy, how businesses work. Much of the text made no sense to me and I had eventually given up after 4 chapters. However, after getting educated by the good folks on YouTube, I was able to give this book another try. Granted, it was still very challenging, but the value that I received from it was far greater than the literary hardship I endured.

This is not a book that will get your blood to boil with excitement; it does not have tactics that offer promises of "do this and get rich". If you are here for that reason, this is not the book for you. It however, guides you to approach the art of investment with the right attitude to stock prices, fluctuations, portfolio and risk. This book provides the readers immense investment experience with an attempt to shape an aspiring investor like myself with a proper mindset.

Mr. Zweig's commentary after each chapter are mostly helpful. There are instances that I had finished a chapter without getting much of it. The commentary then explains what Mr. Graham really meant in an easy-to-understand way. However, I did find the comparisons of different companies in one of the commentaries to be quite repeated. Most of the examples from the commentary were drawn from the dot com bubble and therefore the comparisons had rather predictable endings. Though it is still valuable to witness second hand at how bad things became when it burst.

On the literary side, the language employed was slightly historical. Many sentences required me to re-read in order to understand. I think this is a good way to practise patience, as information is so easily accessible in today's world. I also got to learn a few new words from the text.

There are a lot of online commentaries on this book, as it has become almost "biblical" in value investing. I recommend the readers to use these commentaries to get a modern view of Mr. Graham's concepts.

198 people found this helpful

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