Truly scary stuff, but less so through Zweig's eyes. As I am writing this commentary, the NYSE has seen the greatest losses in my lifetime dropping from 14000 to 8000. The commentary by J ason Zweig in The Intelligent Investor helps the layman to make sense of Grahams writings in todays environment.
Says Hagstrom: "Even today, Buffet continues to embrace Graham's primary idea, the theory of the margin of safety." concluded in his book, The Warren Buffet Way (John Wiley & Sons, Inc, 1994)that Warren Buffet accepted the priciple outlined in the book (the principle of value investing) and adapted the principle or evolved. Warren Buffet himself said that the book provided a framework for his investment approach and that he is still adding to this framework today. It is generally accepted that The Intelligent Investor by Benjamin Graham was first read by Warren Buffet in early 1950.
I've followed the Warren Buffet phenomenon for a couple of months now. The Intelligent Investor appeared first in 1949 and was published initially by Harper & Row. Verified purchase: Yes | Condition: Pre-owned Good time tested advice that you probably won't hear from your stock broker or your cryptocurrency seller Read full review Age old advice about confusing speculation with investing and psychological / emotional factors (such as resisting the temptation to sell when the market tanks or buying stocks at excesssively high prices when the market is bullish) abound. etc.) to be worth a read, although much of the book pertains to the "Enterprising Investor" (those of us who aren't primarily Defensive Investors). There is enough here for what Graham calls the "Defensive Investor" (those of us who buy and hold index funds for decades, essentially dollar cost averaging, allocation, re-allocation, diversification etc. Zweig's writing and examples are clearer than Graham's in my opinion. Each chapter in this particular Revised Edition has been updated by Jason Zweig with newer examples th at extend to 2003. However the advice itself, as Buffett notes, is timeless. The Intelligent Investor was originally written in 1949, so many of Graham's examples are very dated. Buffett's investment firm, Berkshire Hathaway, is the 9th largest company on the SP500, so he must know something investment, right? As Buffett points out in numerous public places (including clips of him being interviewed, see Youtube), Chapter 8 (on market fluctuations and how to intelligently deal with them) and Chapter 20 (on the risk of catathrophic loss and how to intelligently deal with it) are the most important chapters. Warren Buffett's pick - as the best book written on his sort of investment approach to the market.
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