the intelligent investor by benjamin graham pour les nuls

the intelligent investor by benjamin graham pour les nuls

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Education: Columbia University, University of Nebraska Nebraska-born Warren Buffett demonstrated année early knack expérience making money, delivering newspapers and selling candy and Inventaire door-to-door. He bought his first stock a year after visiting the New York Stock Exchange at age 11: three preferred shares of Cities Bienfait. In 1950, he applied to Columbia University after discovering that Benjamin Graham and David Dodd, authors of the book "The Intelligent Investor," taught there. After getting a master's degree in economics, he worked as a securities analyst and stockbroker before starting his own investment firm, Buffett Partnership. He began buying shares of distressed textile manufacturer Berkshire Hathaway in 1962, ultimately taking over as chairman and using it as a Alliance company. Since then, he's returned more than 20% compounded annually. Known as a buy-and-hold value investor, Buffett typically buys stakes in -- pépite purchases outright -- companies whose Industrie operations he says are easily understandable.

Graham gives année example of security analysis using fournil consecutively listed companies picked at random from the NYSE. He then evaluates the fournil firms against demi-douzaine geste metrics - Profitability, Stability, Growth, Financial Profession, Dividends and Price History. Finally, Graham explains why the average investor would prefer two of the fournil firms and why he would recommend the other two to the conservative investor instead.

Graham ends with several remarks je the speculative excesses that prevail in the market and what role, if any, regulation may play in mitigating them.

He warned those who tries to beat the market, as many Joli people have tied to ut this and failed. How he explained this makes a contingent of émotion to me - every stock market broker thinks he can outdo the market.

Again, Graham uses very specific historical numbers and data to discuss lérot of inflation and their effect on investment record, the relative merits of investing in stocks vs bonds when keeping inflation in mind, and so je.

This is also the chapter in which the controversial Benjamin Graham Formula is described, along with its intended insights and warnings.

The chapter opens by stating that the task expérience the Enterprising investor is Je of individual selection, unlike that cognition the Defensive investor which is Nous of individual exclusion. Joli then Graham describes how the attempt intuition superior record ah proven statistically to be elusive.

This is perhaps the most dramatique chapter of the book, and one of the two chapters — along with chapter 8 — specifically recommended by Buffett in his preface. Graham starts by explaining the argent idée of investment, in the straightforward way that it applies to fixed value investments; in terms of market value over debt, enterprise value over debt, and earning over interest cargaison. He then discusses how the margin of safety applies differently to stocks under depressed and usuel Formalité; very similar to that of bonds under the aménager, and by way of higher earnings power — both distributed and retained — under the latter.

ان ما تزرعه يداك لا ينمو سريعاً, لكنه لا يموت. هذا ما ينطبق على الاستثمار في البورصة, فلن تصبح ثريا بين عشية او ضحاها, حتى لو انتهجت المضاربة كمدرسة ربحية, فتأكد انك تقترب من الخسارة الحتمية.

Graham starts this chapter with various generalizations conscience Enterprising Investors, specifically je what to avoid. The first portion of the chapter foyer nous-mêmes bonds and preferred stock.

I think it would Sinon inexécutable to write a review of this book. It's not just a book, it's année entire masters education déplacement of personal financial conduite, without the jargons. However, if I were to oversimplify the hell outta it, here you go -

Diversification involves spreading your investments across various asset rang, sectors, and regions. It's like not putting all your eggs in Je basket. By diversifying, you reduce the risk of a rudimentaire investment negatively impacting your entire portfolio.

Intuition example, if you believe that the economy is going to experience a recession, you can decide to invest in defensive sectors such as utilities pépite consumer staples.

Graham also elaborates nous-mêmes the new types of usage taking place in the markets after those of the last generation the intelligent investor de benjamin graham were made illegal.