The Intelligent Investor - Benjamin Graham

"The Intelligent Investor" (original title The Intelligent Investor) by Benjamin Graham is considered one of the most influential books on the subject of investing. First published in 1949, the book introduces the concepts of long-term investing and "value investing," which involves buying undervalued stocks relative to their intrinsic value. Graham distinguishes between speculation and investment and provides strategies to minimize risks and maximize returns while maintaining a disciplined and rational approach. The book is a reference point for investors like Warren Buffett, who considers it a fundamental text for understanding financial markets.