Andy's Reviews > The Intelligent Investor

The Intelligent Investor by Benjamin Graham
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Sep 03, 08

bookshelves: nonfiction
Read in January, 2005

The classic book on investing by the man who taught Warren Buffett. Originally written 50 years ago, and it is still relevant. The same lessons applied to specific industries and companies at the time of the writing have obvious parallels to different industries and companies today.

And there are some radical ideas, despite it's age, that fly in the face of "conventional wisdom". The most important example in my opinion was the idea of how much risk you should have in your investments:
The "risk" you take on, in terms of volatility and uncertainty, should not depend on how close you are to retirement, but rather how much time you can spend on researching your investments. If you don't want to spend time, take safe investments, like index funds mutual funds, and blue chip stocks that pay regular dividends. If you are willing to do research, and keep current, it makes sense to invest less diversely and include higher risk stocks.
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