The Intelligent Investor by Benjamin Graham .

The Intelligent Investor by Benjamin Graham,

The Intelligent Investor is a classic guide to value investing, teaching readers how to approach the stock market with discipline, patience, and a long-term perspective. Benjamin Graham explains how to analyze companies and securities, distinguish investing from speculation, and protect against major losses by considering a stock’s underlying value rather than simply following market trends.

A central idea of the book is “margin of safety”—buying investments at prices that provide room for error and uncertainty. Graham also explores market volatility, diversification, investor psychology, and the importance of controlling emotional reactions to changing prices.