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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 Collins Business Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals. from back cover.

1. Investment versus speculation: results to be expected by the intelligent investor --- 2. The investor and inflation --- 3. A century of stock-market history: the level of stock prices in early 1972 --- 4. General portfolio policy: the defensive investor --- 5. The defensive investor and common stocks --- 6. Portfolio policy for the enterprising investor: negative approach --- 7. Portfolio policy for the enterprising investor: the positive side --- 8. The investor and market fluctuations --- 9. Investing in investment funds --- 10. The investor and his advisors --- 11. Security analysis for the lay investor: general approach --- 12. Things to consider about per-share earnings --- 13. A comparison of 4 listed companies --- 14. Stock selection for the defensive investor --- 15. Stock selection for the enterprising investor --- 16. Convertible issues and warrants --- 17. Four extremely instructive case histories --- 18. A comparison of eight pairs of companies --- 19. Shareholders and managements: dividend policy --- 20. 'Margin of safety' as the central concept of investment --- Appendixes --- Index..