What I want is an earnings ratio twice as good as the bond interest ratio typically for most years. And so my enthusiasm has been transferred from the selective to the group approach. They certainly did twice as well as the Dow Jones. I found the results were very good for 50 years. To try to buy groups of stocks that meet some simple criterion for being undervalued - regardless of the industry and with very little attention to the individual company. The thing that I have been emphasizing in my own work for the last few years has been the group approach. Which is, instead of extensive analysis on an individual company, just apply simple earning criteria and buy a group of companies. The Intelligent Investor also marks a significant deviation to stock selection from Graham's earlier works, such as Security Analysis. Warren Buffett read the book at age 20 and began using the value investing taught by Graham to build his own investment portfolio.
This sentiment was echoed by other Graham disciples such as Irving Kahn and Walter Schloss. The Intelligent Investor is based on value investing, an investment approach Graham began teaching at Columbia Business School in 1928 and subsequently refined with David Dodd.
Historically, the book has been one of the most popular books on investing and Graham’s legacy remains. The book provides strategies on how to successfully use value investing in the stock market. The Intelligent Investor by Benjamin Graham, first published in 1949, is a widely acclaimed book on value investing.
0 kommentar(er)
