New Releases by Benjamin Graham

Benjamin Graham, le plus grand financier du XXe siècle, a inspiré nombre d''investisseurs individuels et professionnels. Sa stratégie -- l''investissement dans la valeur -- permet de bâtir des stratégies de long terme et d''éviter des erreurs coûteuses. Ce livre est une bible depuis sa première édition en 1949. Année après année, les soubresauts des marchés financiers ont démontré la sagesse et la pertinence des stratégies d''investissement de Graham. Tout en préservant l''intégralité du texte original, cette édition révisée inclut des commentaires du journaliste financier Jason Zweig, mettant en perspective le texte avec l''actualité financière et des annotations de Didier Coutton, professeur de finance, pour éclairer le lecteur sur la façon d''appliquer les principes de Graham. Ouvrage vital et indispensable, L''Investisseur Intelligent est le livre qui restera dans la mémoire des lecteurs et les accompagnera pour atteindre leurs objectifs financiers.

75th Anniversary Edition The classic work on investing, filled with sound and safe principles that are as reliable as ever, now revised with an introduction and appendix by financial legend Warren Buffett—one of the author’s most famous students—and newly updated commentaries on each chapter from distinguished Wall Street Journal writer Jason Zweig. “By far the best book about investing ever written.”—Warren Buffett Since its original publication in 1949, Benjamin Graham’s revered classic, The Intelligent Investor, has taught and inspired millions of people worldwide and remains the most respected guide to investing. Graham’s timeless philosophy of “value investing” helps protect investors against common mistakes and teaches them to develop sensible strategies that will serve them throughout their lifetime. Market developments over the past seven decades have borne out the wisdom of Graham’s basic policies, and in today’s volatile market, The Intelligent Investor remains essential. It is the most important book you will ever read on making the right decisions to protect your investments and make them grow. Featuring updated commentaries which accompany every chapter of Graham’s book—leaving his original text untouched—from noted financial journalist Jason Zweig, this newly revised edition offers readers an even clearer understanding of Graham’s wisdom and how it should be applied by investors today.

75th Anniversary Edition The classic work on investing, filled with sound and safe principles that are as reliable as ever, now revised with an introduction and appendix by financial legend Warren Buffett--one of the author''s most famous students--and newly updated commentaries on each chapter from distinguished Wall Street Journal writer Jason Zweig. "By far the best book on investing ever written."--Warren Buffett Since its original publication in 1949, Benjamin Graham''s revered classic, The Intelligent Investor, has taught and inspired millions of people worldwide and remains the most respected guide to investing. Graham''s timeless philosophy of "value investing" helps protect investors against common mistakes and teaches them to develop sensible strategies that will serve them throughout their lifetime. Market developments over the past seven decades have borne out the wisdom of Graham''s basic policies, and in today''s volatile market, The Intelligent Investor remains essential. It is the most important book you will ever read on making the right decisions to protect your investments and make them grow. Featuring updated commentaries which accompany every chapter of Graham''s book--leaving his original text untouched--from noted financial journalist Jason Zweig, this newly revised edition offers readers an even clearer understanding of Graham''s wisdom and how it should be applied by investors today.

Das klassische Werk des »Vaters des Value Investing« – ausführlich kommentiert für die heutige Generation von Anlegern In diesem unschlagbaren Buch gibt Ihnen der Autor aufsehenerregende Antworten auf alle Kardinalfragen der Geldanlage. Seit 90 Jahren werden die Geheimnisse der Wertpapieranalyse nun schon an die jeweils nächste Generation von Anlegern weitergegeben. Warren Buffett beispielsweise, einer der reichsten Anleger der Neuzeit, bekennt sich ganz offen zu Benjamin Grahams Analysemethoden. In dieser neu kommentierten siebten Auflage des wichtigsten aller Investment-Klassiker stellt ein Team der erfahrensten Finanzjournalisten und der eloquentesten Autoren von Börsenliteratur dieses Jahrhundertwerk in den Kontext der modernen Märkte mit all ihren Besonderheiten und Herausforderungen. Zu den Kommentatoren gehören etwa Seth A. Klarman, Roger Lowenstein, Howard S. Marks, Nancy Zimmerman und viele weitere. Jeder Investor kann Wissen und Kraft aus der Bibel der Wertpapieranalyse schöpfen. Zu den wichtigen Inhalten gehören: Wie man den Wert eines Unternehmens bestimmt. Was die Kennzahlen über ein Unternehmen verraten. Wie Sie Bilanzen problemlos lesen und verstehen. Dazu gibt es handfeste Praxisbeispiele, klare Tabellen und sorgfältig ausgewählte Abbildungen. Die überlegenen Analysemethoden von Graham und Dodd in einem Buch der Extraklasse! Ein Mega-Kompendium des Börsenwissens für jetzt und immer.

Un estuche que reúne los cinco volúmenes del padre de la inversión en valor Benjamin Graham fue un destacado economista, profesor e inversor de Wall Street, conocido en los círculos académicos y financieros como el «padre de la inversión en valor» y el «Decano de Wall Street». Este pack incluye la obra magna del padre de la inversión en valor. Graham escribió tres de los textos fundacionales de la inversión neoclásica: Security Analysis (Deusto, 2023); El inversor inteligente (Deusto, 2022), que fue publicado en 1949 y que a lo largo de los años se ha convertido en uno de los clásicos imprescindibles que todo inversor debe leer al menos una vez en su vida; una valiosa colección de artículos, Invertir según Benjamin Graham (Deusto, 2022) y La interpretación de estados financieros (Deusto, 2022), escrito con la colaboración de Spencer B. Meredith. Escribió, asimismo, su autobiografía: Las memorias del decano de Wall Street (Deusto, 2023). Graham sigue siendo, gracias a sus libros, una inspiración para buena parte de quienes hoy triunfan en el mundo de la inversión.

La vida del legendario inversor que revolucionó el mundo de las finanzas contada por él mismo Por primera vez traducidas al español, las memorias de Benjamin Graham nos abren la puerta a la vida de uno de los mejores inversores de todos los tiempos. Su larguísima carrera desde que entró a trabajar en la Bolsa con veinte años (lo cual le valió el sobrenombre de «el decano de Wall Street») permite comprender mejor las razones detrás del éxito de sus técnicas financieras, las primeras en tener una fundamentación intelectual sólida. Descubriremos que su revolucionario método de la «inversión en valor» estuvo inspirado por la pérdida de Graham de todos sus activos en el crack del 29, suceso que le animó a investigar sobre cómo minimizar los riesgos. Además, en estas páginas encontraremos también sus enseñanzas sobre estrategias de inversión inteligente como profesor en la Escuela de Negocios de Columbia, y podremos asomarnos a las interioridades de su trabajo en Wall Street. La autobiografía del autor del «mejor libro sobre inversión jamás escrito», según Warren Buffett, es un complemento idóneo a su obra ensayística, y nos muestra facetas de la vida personal del economista desconocidas para el gran público. Este libro puede resultar estimulante no sólo para apasionados de las finanzas, sino también para quienes tengan interés en la historia reciente. Sus recuerdos, escritos al final de su vida, constituyen un excelente documento para todos aquellos que aún hoy siguen inspirándose en la obra de este gurú atemporal.

Benjamin Graham è considerato la massima autorità del Novecento sul tema degli investimenti. Come esperto di finanza, pioniere dell’analisi dei titoli, mentore di Warren Buffett e di varie superstar del settore, la sua importanza non ha eguali. Il volume che state per leggere è l’intramontabile guida di Graham all’interpretazione dei bilanci aziendali: una risorsa inestimabile per comprendere il suo pensiero e i principi del value investing. I consigli che Graham offre in questo libro sono utili e lungimiranti. Come scrive lui stesso nella prefazione: «Se si dispone di informazioni precise sulla posizione finanziaria attuale di un’azienda e sui suoi ricavi del passato, si sarà in grado di valutarne le possibilità future. E questa è la funzione essenziale e il vero valore dell’analisi dei titoli.» I lettori impareranno ad analizzare lo stato patrimoniale e il conto economico di un’azienda per comprenderne appieno lo stato di salute finanziaria e gli utili dichiarati. Accessibile e pratica, Leggere e capire i bilanci è una guida essenziale per ogni investitore e si affianca idealmente al capolavoro di Graham, L’investitore intelligente.

Terbit pertama kali tahun 1934, buku ini sudah terjual lebih dari satu juta kopi. Inilah edisi keenam buku yang oleh banyak investor profesional maupun individual disebut sebagai peta abadi dunia investasi. Isinya mengupas dengan tuntas teori, prinsip, metode, teknik, dan di atas segalanya, logika dalam berinvestasi. Terlalu banyak orang mendekati pasar sekuritas dengan fokus menghasilkan uang secara instan. Orientasi seperti ini lebih melibatkan spekulasi ketimbang investasi. Sekuritas pun dianggap hanya lembaran-lembaran kertas, yang diperdagangkan dengan cepatnya dan secara bodoh dipisahkan dari realitas bisnis maupun kriteria valuasinya. Ratusan contoh kasus analisis disuguhkan di buku ini. Tujuan utamanya tentu melatih kemahiran Anda menganalisis berbagai jenis efek. Bahkan, jika Anda tekun menyelami paket-paket contoh yang disajikan, niscaya Anda jauh lebih "prudent" dan sukses dalam mengarungi dunia sekuritas. Buku ini, misalnya, akan sangat membantu Anda dalam membedah struktur kapitalisasi perusahaan, menguak elemen-elemen tak lazim dalam akun pendapatan dan neraca, menghitung kekuatan laba, mengidentifikasi tren dan proyeksi masa depan, atau melakukan perbandingan antar perusahaan. Benjamin Graham adalah sosok akademisi langka: teoretisi sekaligus praktisi. Kesinisannya pada praktik menyimpang Wall Street bertebaran di buku ini. Dia karikatur profesor cuek tapi sangat murah hati kepada murid dan koleganya. Namun, secara intelektual, keingintahuannya tak tertandingi. Butuh waktu 20 tahun baginya-siklus lengkap dari pasar bullish 1920-an hingga kehancuran pada awal 1930-an-untuk menyempurnakan filosofi investasi di buku ini. Syahdan, menerapkan The Intelligent Investor tanpa membaca buku ini ibarat bercocok tanam minim peralatan. Edisi keenam ini dilengkapi dengan 173 halaman update dan komentar terkini dari 10 manajer keuangan ternama di Wall Street. Untuk kenyamanan membaca, buku ini kami pilah menjadi dua jilid. Informasi Tambahan Judul : Analisis Sekuritas Jilid 1 Edisi Ke 6 Penulis : Benjamin Graham dan David L. Dodd Penerbit : Akademika Tahun Terbit : Cetakan 1, 2023 ISBN : 978-602-533-635-5 Dimensi : 15 x 23cm Halaman : 632 hlm/SC

★★★價值投資之父、巴菲特導師 班傑明．葛拉漢的經典作品★★★ ★★★投資必讀《智慧型股票投資人》另一力作★★★ ★解讀財務報表最基本也最重要的永恆指南★ 「最穩健的投資，是依賴於企業充足的財務能力。」──班傑明‧葛拉漢 20世紀最偉大的投資人班傑明．葛拉漢， 用最短篇幅，直搗價值投資核心。 既然股市波動難以掌握， 如何判別股票是否具有投資價值就成為重要的課題， 透過解讀產業「財務報表」，找到最佳的投資標的！ ◎沒聽過班傑明．葛拉漢，別說你懂投資！ 如果你知道巴菲特，那你一定不能不認識他， 因為他，正是巴菲特的老師，可以說沒有他就沒有股神！ 如果你在進行投資，那你一定也該要認得他， 因為他，正是創造找到被市場低估的股票的「價值投資之父」。 如果你想成功獲利，那你更需要好好向他學習， 因為他，正是被所有投資人奉為聖經的《智慧型股票投資人》的作者。 而這本書，正是顯現他投資思維的原點！ ◎為什麼要懂財務報表？因為葛拉漢的祕密就在這裡！ 葛拉漢靠著價值投資，成功連續20年打敗大盤， 他的價值投資5原則，正與「財務報表」息息相關。 【價值投資原則1】了解「投資與投機」 →葛拉漢定義：「投資是以深度分析為基礎，來確保本金安全、獲得適當報酬，而不滿足這些要求的就是投機。」價值投資是強調投資而非投機，所以需要對投資標的進行分析。 【價值投資原則2】長期投資 →對價值投資而言，看公司的真實價值格外重要，所以要找到好股票並長期持有才能有獲利。 【價值投資原則3】買企業而不是買股票 → 「股票不只是一個數字代碼或電子訊號，它實際上代表著企業的所有權權益，而且背後的潛在價值不取決於股價本身。」葛拉漢強調，要採取以下觀點來篩選企業，也就是需要評估企業是否具有「安全性」、「獲利性」與「未來性」。 【價值投資原則4】區分價格與內在價值的差異 →由於投機大眾的群體行為，會使得股票價格出現非理性的變動，脫離了股票與企業的內在價值。因此價值投資的獲利關鍵，就是找尋市場中股票價格低於內在價值的企業，而為了量化分析出股票或企業的內在價值，就須參考企業財務報表中的各項數值（包含資產負債表、損益表等）。 【價值投資原則5】確保安全邊際 →葛拉漢認為，因為內在價值難以預測，評估時也可能會有錯誤，所以買進股票的價格不只要低於內在價值，還需要有「安全邊際」，也就是將內在價值打折，保留安全的誤差空間。 透過葛拉漢的投資原則，可以知道，了解財報是進行價值投資的基本功。 在了解財務報表對投資的重要性後，一起打開財報試著解讀吧！ ◎跟著葛拉漢，從3重點解讀財務報表 你是否有以下困擾： ‧ 身為沒有會計背景、數學也不好平凡上班族，真的能看懂財報嗎…… ‧ 一份財報就落落長，外加各種數字名詞，一看就想要睡覺…… ‧ 想要精準投資找到好目標，但不知道該看哪些關鍵指標…… ‧ 以為帳面數字有獲利就行，卻不清楚公司實際的財務狀況…… 別怕！葛拉漢從最基礎的會計簿記開始教學， 讓你一步步了解財務報表中的各項名詞數值， 更從3大重點，教你有策略的解讀財務報表： ▶重點1：公司會不會倒閉？ →你需要從「資產負債表」掌握企業財務的安全性！因為一家企業所「擁有」和「虧欠」的都列在其中，要能維持企業穩當營運，最好要有充足的資產，才能在償還負債之餘，還能應付突如其來的意外狀況。 ▶重點2：公司能不能賺錢？ →你需要從「損益表」了解企業經營的獲利性！投資的吸引力或投資成功與否，都取決於企業營運的收益結果，當中的收入與支出不只顯示賺賠與否，更是判斷未來盈餘的參考。 ▶重點3：公司今後有沒有發展可能？ →你需要綜合兩表計算比率，評估企業成長的未來性！想知道企業的營業效率，你可以計算「營業利益率」，想確認投入金錢的回報，你可以計量「投入資本報酬率」，想了解公司為股票賺了多少錢，你可以試算「每股盈餘」，甚至可以更進一步算出「本益比」，像葛拉漢一樣找到「價格低於價值」的股票。 而除了這3大重點，葛拉漢還用獨特的觀點，說明各種財務的專有名詞與術語。 ◎魔鬼藏在細節裡！察覺藏在財報數字背後的陷阱 不論是在電視劇中或新聞報導裡， 你可能都聽過企業「作假帳」藉此吸金的操作， 究竟投資人該如何避免落入財報圈套之中呢？ 葛拉漢在此書中點出了多項可能藏有陷阱的地方： ‧ 注意「無形資產」、「固定資產」是否有灌水→公司可能任意設定價值或虛增帳面價值。 ‧ 留意「流動資產」是否有大於「流動負債」→顯示公司是否有償債能力。 ‧ 小心各式各樣的「準備金」是列在報表何處→公司可能將營業損失偷偷隱藏起來。 ‧ 只要出現「應付票據」就須格外注意→公司可能過度依賴銀行貸款。 ‧ 公司虧損期間「現金」卻大增→公司可能正大量變現其他資產。 ……更多財報陷阱，請看本書。 投資買的不是一紙證券，而是購入企業的部分所有權，所以抓住顯示企業經營關鍵的財務報表，就是投資的最大重點！ 葛拉漢想告訴投資者，重視財務報表能有以下益處： ☑了解企業狀況和經營成果。 ☑不受股市波動與投資熱潮影響。 ☑避開誇大不實的地雷企業與股票。 ☑發現價值被低估投資標的。 跟著他，你能找到企業暗藏的財富藏於何處；跟著他，你能發現企業吸收資金的灌水謊言，不用學過會計與統計，從這本書入門分析財務報表的世界，一起一窺大師解讀財務報表的智慧，成為智慧型投資人！ 本書特色 1. 內容基礎簡單，非財經、會計、數學相關背景，也能跟著一步步學會讀懂財務報表。 2. 從名詞解釋到價值計算，逐步闡述財務報表的分析祕訣。 專業推薦 Hank／「小資進行式」版主 大俠武林／《股息cover我每一天》作者 林明樟 （MJ）／連續創業家暨兩岸三地上市公司指名度最高的頂尖財報職業講師 陳喬泓／「陳喬泓投資法則」版主 雷浩斯／財經作家 楊禮軒／算利教官 嫺人／《提早退休說明書》作者 好評推薦 「重新發行1937年的經典版……正好恰逢其時……，一般投資人現在對財務報表的基本研讀，跟過去比起來，顯得更加重要。」──麥克．普萊斯（Michael F. Price），富蘭克林互利顧問公司總經理 「葛拉漢的想法……塑造出有關股票市場架構的概念，已經鼓舞、激勵投資界，將近一整個世紀。」──《聰明錢》雜誌（Smart Money） 「在應用投資組合的領域，葛拉漢名列本世紀（也可能是歷史上）最重要的思想家。」──約翰．崔恩（John Train），《股市大亨》（Money Master）作者

"First published in 1934, Security Analysis is one of the most influential financial books ever written. With over a million copies sold, it has provided generations of investors with Benjamin Graham and David L. Dodd''s timeless value investing philosophy and techniques. This seventh edition builds on the context and commentary of the sixth edition from ten of today''s leading voices on Wall Street. These masters of value investing discuss the influence of Graham and Dodd on today''s markets and contextualize the philosophy that influenced so many famous investors. Lead editor Seth Klarman, considered an intellectual successor to Warren Buffett in value investing, has assembled a team of contributors to provide commentary on Security Analysis in terms of today''s markets and practices, including how today''s value investors should assess markets, asset classes, and securities Graham and Dodd could not have possibly foreseen. New content includes:"

10 લાખથી વધુ હાર્ડકવર કૉપીનું વેચાણ ગ્રેહામના ચિરકાલીન જ્ઞાનને, બજારની આજની પરિસ્થિતિને અનુરૂપ અપડેટ કરીને ટિપ્પણી સાથે ખૂબ સરસ રીતે રજૂ કરવામાં આવ્યું છે. વીસમી સદીના સૌથી મહાન ઇન્વેસ્ટમેન્ટ ઍડવાઇઝર બેન્જામીન ગ્રેહામે સમગ્ર વિશ્વના લોકોને ઘણું શીખવ્યું છે અને પ્રેરણા આપી છે. ગ્રેહામની ‘વૅલ્યૂ ઇન્વેસ્ટિંગ’ ફિલૉસૉફી લોકોને મોટી ભૂલથી બચાવે છે અને લાંબા ગાળાની સ્ટ્રેટેજી વિકસાવવાનું શીખવે છે. આ ફિલૉસૉફીએ ‘ધ ઇન્ટેલિજન્ટ ઇન્વેસ્ટર’ પુસ્તક 1949માં સૌપ્રથમ પ્રકાશિત થયું ત્યારથી જ તેને સ્ટૉક માર્કેટનું બાઇબલ બનાવી દીધું છે. અનેક વર્ષોથી બજારમાં જે ઘટનાક્રમ બની રહ્યા છે તે ગ્રેહામની વિદ્વતા અને અનુભવને સાચા પુરવાર કરી રહ્યા છે. ગ્રેહામની ઑરિજિનલ ટેક્સ્ટના હાર્દને યથાવત્ જાળવી રાખવા સાથે આ આવૃત્તિ રજૂ કરવામાં આવી રહી છે, જેમાં જાણીતા ફાઇનાન્શિયલ જર્નલિસ્ટ જેસન ઝ્u200cવીગની અપડેટેડ ટિપ્પણી રજૂ કરવામાં આવી છે, જે બજારમાં આજની વાસ્તવિકતા દર્શાવે છે. જેસનની ટિપ્પણી, ગ્રેહામનાં ઉદાહરણો અને આજની ફાઇનાન્શિયલ હેડલાઇન્સ વચ્ચે સમાનતા દર્શાવે છે, અને ગ્રેહામના સિદ્ધાંતોનો રોકાણમાં કઈ રીતે ઉપયોગ કરવો તેની વાચકને વધુ ગહન સમજ આપે છે. બીજી એક અગત્યની વાત, ‘ધ ઇન્ટેલિજન્ટ ઇન્વેસ્ટર’ની આ ‘કોલિન્સ બિઝનેસ એસેન્શિયલ્સ આવૃત્તિ’ તમારા નાણાકીય લક્ષ્યાંક (ફાઇનાન્શિયલ ગોલ્સ) કઈ રીતે પૂરા કરવા તે અંગેનું સૌથી અગત્યનું પુસ્તક છે, જે તમારે વાંચવું જ રહ્યું. ગ્રેહામના સિદ્ધાંતો રોકાણ અંગેના અત્યંત સફળ અને લોકપ્રિય અભિગમના મૂળભૂત સિદ્ધાંતોને સંપૂર્ણપણે અભિવ્યક્ત કરે છે. – મની મૅગેઝિન

El más grande asesor de inversiones del siglo XX, Benjamin Graham ha enseñado e inspirado a personas por todo el mundo. La filosofía de Graham de «inversión de valor» –que protege a los inversores del error substancial y les enseña a desarrollar estrategias a largo plazo– ha hecho de El inversor inteligente la biblia de la bolsa de valores desde su publicación inicial en 1949. Durante los años, los desarrollos del mercado han demostrado la sabiduría de las estrategias de Graham. Esta edición revisada, que conserva la integridad del texto original de Graham, incluye un comentario actualizado del mencionado periodista Jason Zweig, cuya perspectiva incorpora las realidades del mercado actual, traza analogías entre los ejemplos de Graham y los encabezados financieros de hoy y otorga a los lectores un entendimiento más profundo de cómo aplicar los principios de Graham. Fundamental e indispensable, El inversor inteligente es el libro más importante que usted leerá jamás sobre cómo alcanzar sus objetivos en lo financiero The greatest investment advisor of the twentieth 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 readers 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 read on how to reach your financial goals.

Benjamin Graham, il più grande consulente finanziario del Novecento, ha istruito e ispirato gli investitori di tutto il mondo. La sua filosofia del “value investing”, che tutela l’investitore dagli errori più gravi e gli insegna a sviluppare strategie a lungo termine, ha fatto di questo classico la bibbia del mercato azionario fin dalla sua prima pubblicazione nel 1949. Non a caso Warren Buffett lo ha definito “il miglior libro sugli investimenti che sia mai stato scritto”. Nel corso degli anni, gli sviluppi del mercato hanno poi dimostrato l’efficacia delle strategie proposte da Graham. Preservando l’integrità del testo originale, questa edizione riveduta dal noto giornalista finanziario Jason Zweig, inquadra la trattazione nel contesto odierno, traccia parallelismi tra gli esempi di Graham e i grandi temi dell’economia di oggi, e offre ai lettori un quadro più esteso delle possibili applicazioni dei suoi principi. Attuale e indispensabile, questa edizione del classico di Graham è il libro più importante che possiate leggere per capire come si muovono i mercati finanziari e per centrare i vostri obiettivi.

Buku Terbaik Yang Pernah Ditulis Tentang Investasi. – Warren E. Buffett Inilah bacaan wajib bagi siapa pun yang mempelajari atau menggeluti dunia investasi. Buku ini menggambarkan dengan sangat brilian kerangka emosional dan alat-alat analisis penting penentu sukses finansial seorang investor. Ajaran-ajaran di dalamnya telah teruji waktu; berakar pada telaah perilaku pasar mo-dal selama lebih dari 100 tahun. Anjuran-anjurannya pun nyaris selalu terbukti benar karena bersandar pada 50 tahun lebih pengalaman sang penulis, pemikir terbesar sepanjang masa di bidang investasi-praktis. Benjamin Graham dikenal sebagai master peneliti sekuritas hingga ke detail mikroskopik, bahkan nyaris molekuler. Graham sadar bahwa setiap pendekatan mencetak laba yang mudah dijelaskan dan diikuti oleh banyak orang dengan sendirinya merupakan pendekatan yang sederhana dan mudah punah. Graham juga tak pernah lupa bahwa kesimpulan objektif membutuhkan sampel sangat panjang dari banyak sekali data. Mengutip pepatah filosofis Spinoza: Segala yang istimewa pastilah sulit dan langka. Sejak pertama terbit (1949) hingga sekarang, buku ini semakin diapresiasi ba-gaikan kitab suci. Komentar luas dari Jason Zweig berhasil membuat setiap ajaran dan anjuran Graham terus bergema di kancah regulasi maupun aktivitas pasar terkini. Seperti karya-karya klasik lainnya, buku legendaris ini mengubah cara kita memandang dunia. Isinya akan terus terasa baru karena senantiasa mendidik kita. Kian sering Anda baca buku mengasyikkan ini, kian banyak ke-waskitaan berinvestasi yang Anda kuasai. Di bawah asuhan Graham, Anda dija-min bisa menjadi investor yang jauh lebih pintar.

EDIÇÃO REVISADA Atualizado com novos comentários de Jason Zweig. Prefácio e apêndice de Warren E. Buffett."De longe, o melhor livro sobre investimentos já escrito." – Warren Buffett"Se você tiver que ler um só livro sobre investimentos em toda a sua vida, que seja esse." — Fortune"Um dos 10 livros que todo o investidor deveria ler." — Revista Exame"Neste livro, um best-seller com mais de um milhão de exemplares vendidos, Benjamin Graham nos mostra que todo investidor inteligente deve combinar educação financeira, pleno conhecimento de mercado e, acima de tudo, uma visão de longo prazo. Essas são ferramentas fundamentais e de grande valia para quem deseja ter sucesso no mercado de ações." — Raymundo Magliano Filho, ex-presidente da Bovespa e atual presidente da Magliano Corretora de Câmbmbio e Valores Mobiliários"Com base em sua abordagem, vários discípulos de Graham — com destaque para Warren Buffett, talvez o mais famoso de todos os tempos — ainda hoje praticam esse método com extraordinário sucesso. Apesar de sua ampla difusão no mundo, as lições de Graham mantêm sua validade graças às extremas (e nem sempre racionais) flutuações que acontecem nas bolsas de valores do mundo. Como não há possibilidade real de que tais flutuações deixem de ocorrer, deixo aqui minha mais entusiástica recomendação deste brilhante e claríssimo livro. Bom proveito!" — Eduardo Rocha Rezende, sócio-diretor da Jardim Botânico PartnersMAIOR CONSULTOR DE INVESTIMENTO DO SÉCULO XX, BENJAMIN GRAHAM ensinou e inspirou pessoas de todo o mundo. O conceito de "valor de investimento" protegia os investidores de erros substanciais e os ensinou a desenvolver estratégias de longo prazo, fazendo com que O investidor inteligente se tornasse a Bíblia do mercado de ações desde sua primeira publicação, em 1949.Desde então, os desenvolvimentos do mercado provaram a sabedoria das estratégias de Graham.

Het beste boek over beleggen dat ooit is geschreven. De klassieker ‘De intelligente belegger’ uit 1949 wordt zelfs na ruim 70 jaar nog steeds geprezen als de bijbel die iedere belegger gelezen moet hebben. De filosofie van Benjamin Graham heeft zich door de jaren heen keer op keer bewezen – hij behoedt beleggers voor kostbare fouten en leert ze een succesvolle langetermijnstrategie te ontwikkelen. Omdat Graham niet vertelt wélke aandelen je zou moeten kopen, maar juist een effectieve manier van denken en handelen aanleert, is het boek nog steeds verbazingwekkend actueel. ‘De intelligente belegger’ is in de loop der jaren in talloze talen vertaald en sinds verschijnen zijn er wereldwijd meer dan 1 miljoen exemplaren verkocht. Niet voor niets door Warren Buffet uitgeroepen tot verreweg het beste boek over beleggen dat ooit is geschreven. Met een uitgebreide inleiding van superbelegger John C. Bogle, oprichter van The Vanguard Group.

Seit Erscheinen der Erstausgabe 1949 ist Benjamin Grahams »Intelligent Investieren« das mit Abstand wichtigste und meistverkaufte Werk zum Thema »Value Investing« und einer der meistgeschätzten Wegweiser wie man langfristig erfolgreich investiert. Der Grund dafür ist seine zeitlose Philosophie der Anlage in Wachstumswerte, die den Anlegern dabei hilft, mögliche Stolpersteine zu erkennen, langfristige Erfolgsstrategien zu entwickeln und Gewinne zu erzielen. Nicht umsonst sagt Warren Buffett, als der erfolgreichste Investor aller Zeiten über »Intelligent Investieren«: »Mit Abstand das beste Buch über Investieren das jemals geschrieben wurde.«

Invertir según Benjamin Graham es una extraordinaria aproximación al estilo y el método de análisis que mayor éxito han tenido a la hora de determinar el valor real de una empresa. Concebidos en un período que se extiende desde los últimos años de la Primera Guerra Mundial hasta un lustro después del gran crash del 1929, estos artículos no sólo permiten hacerse una idea de la magnitud de las turbulencias económicas de la época, sino también seguir muy de cerca un procedimiento de evaluación para el que no ha pasado el tiempo y que se revela muy útil para el inversor.

Traditional Chinese edition of The Rediscovered Benjamin Graham: Selected Writings of the Wall Street Legend. This is a collection of writings, lectures, speeches, and interviews by Graham, investor, professor, and, more appropriately, the visionary who advocates the importance of investing in value. In Chinese. Distributed by Tsai Fong Books, Inc.

“They laid out a road map for investing that I have now been following for 57 years. There’s been no reason to look for another.” —Warren Buffett, on the writings of Benjamin Graham Legendary investing author and philosopher Benjamin Graham lived through interesting times. Soon after his graduation from Columbia College, the nation entered the First World War. As the stock market fluctuated in wild dips and peaks, the government seized control of the railroad industry, inflation and interest rates rose dramatically, and economic depression loomed on the horizon. During these events—and perhaps inspired by them—Graham began writing articles for The Magazine of Wall Street, putting to paper his earliest ideas on value investing and security analysis. For the first time, these important works have been anthologized into a single volume. Benjamin Graham on Investing is a treasure trove of rare and out-of-print articles that document the early flashes of genius from a man whose ideas and theories would revolutionize investment philosophy and inspire the careers of such luminaries as Warren Buffett, Seth Klarman, Charlie Munger, and countless other top-tier investors. The early works of Benjamin Graham have never been as relevant as they are today. The world’s markets are undergoing changeon a scale not unlike that of Graham’s era. David Darst, one of the world’s most respected experts on asset allocation, provides insightful analyses connecting Graham’s articles to events today. ,iu003eBenjamin Graham on Investing is a timeless classic that continues to have relevance more than 30 years after the author’s death.

“By far the best book on investing ever written.” — Warren Buffett The classic text of Benjamin Graham’s seminal The Intelligent Investor has now been revised and annotated to update the timeless wisdom for today’s market conditions. The greatest investment advisor of the twentieth 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 readers a more thorough understanding of how to apply Graham''s principles. Vital and indispensable, this revised edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.

A brief overview of money''s historical relationship to the commodities of gold and silver, including the author''s prophetic view of a new stage in monetary technique wherein monetary status and pure commodity value may be reciprocally beneficial and ultimately advantageous to the economy at large.

This chapter is from Security Analysis, which has withstood the test of time as well or better than any investment book ever published. Now the Sixth Edition updates the masters'' ideas and adapts them for the 21st century''s markets. This second edition, which was published in 1940 and still considered the definitive edition, has been updated by a dream team of some of today''s leading value investors. Featuring a foreword by Warren E. Buffett (in which he reveals that he has read the 1940 masterwork "at least four times"), this new edition of Security Analysis will reacquaint you with the foundations of value investing--more relevant than ever in the tumultuous 21st century markets.

This chapter is from Security Analysis, which has withstood the test of time as well or better than any investment book ever published. Now the Sixth Edition updates the masters'' ideas and adapts them for the 21st century''s markets. This second edition, which was published in 1940 and still considered the definitive edition, has been updated by a dream team of some of today''s leading value investors. Featuring a foreword by Warren E. Buffett (in which he reveals that he has read the 1940 masterwork "at least four times"), this new edition of Security Analysis will reacquaint you with the foundations of value investing--more relevant than ever in the tumultuous 21st century markets.

This chapter is from Security Analysis, which has withstood the test of time as well or better than any investment book ever published. Now the Sixth Edition updates the masters'' ideas and adapts them for the 21st century''s markets. This second edition, which was published in 1940 and still considered the definitive edition, has been updated by a dream team of some of today''s leading value investors. Featuring a foreword by Warren E. Buffett (in which he reveals that he has read the 1940 masterwork "at least four times"), this new edition of Security Analysis will reacquaint you with the foundations of value investing--more relevant than ever in the tumultuous 21st century markets.

This chapter is from Security Analysis, which has withstood the test of time as well or better than any investment book ever published. Now the Sixth Edition updates the masters'' ideas and adapts them for the 21st century''s markets. This second edition, which was published in 1940 and still considered the definitive edition, has been updated by a dream team of some of today''s leading value investors. Featuring a foreword by Warren E. Buffett (in which he reveals that he has read the 1940 masterwork "at least four times"), this new edition of Security Analysis will reacquaint you with the foundations of value investing--more relevant than ever in the tumultuous 21st century markets.