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Hong Chew Eu

Non Executive Director at i-Bhd

16 Jun 2023

General Investing

Is "The Intelligent Investor" a good book for beginners?

I am a self-taught value investor learning how to invest from books, articles, videos and podcasts.

I read "The Intelligent Investor" years after I learned value investing. I wil admit that I found the book hard to read and if I was not a value investor, I would not have read it. Yes, I read it to find out what the hype was all about.

This is not a book I would recommended to any newbie wanting to learn value investing. There are better books nowadays that presents the value investing concepts better.

Besides if you want to learn value investing, there are 3 skills you have to develop

  • how to analyze companies. This is like a mini-MBA course
  • how to value them. Damodaran and Penman have much comprehensive books
  • how to mitigate risk from a permanent loss of capital perspective. I have not found any books on this and what I am doing is based on my own experience.

So you can understand why I said that "The Intelligent Investor" is not meant for the newbies.

Of course, I like to think that my own value investing book is better for the newbies as I covered all the 3 skills with case studies and worked examples.

Discussion (7)

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For me personally, I will choose the German audiobook "Millionenschwere Gewohnheiten" by author Brian Tracy. I listened to the audiobook on the website horbuchkostenlos.de

It is a good book for starters but some of the strategies might be outdated in this modern context.

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Would you be able to provide a concise summary of "The Intelligent Investor" in layman's terms? It w...

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