The Intelligent Investor

Chapter Summaries

Explore key insights and lessons from each chapter of The Intelligent Investor

Chapter 1
Investment versus Speculation

The essential differences between investment and speculation in common stocks.

Chapter 2
The Investor and Inflation

How inflation affects different types of investments and strategies to protect against it.

Chapter 3
A Century of Stock-Market History

The lessons to be drawn from the market's past and their implications for investors.

Chapter 4
General Portfolio Policy

The defensive investor's approach to asset allocation between stocks and bonds.

Chapter 5
The Defensive Investor and Common Stocks

Guidelines for stock selection for the defensive investor.

Chapter 6
Portfolio Policy for the Enterprising Investor

Strategies for those willing to devote time and effort to managing their investments.

Chapter 7
The Enterprising Investor and Market Fluctuations

How the enterprising investor can take advantage of market volatility.

Chapter 8
Investing in Investment Funds

An analysis of mutual funds and their suitability for different investors.

Chapter 9
The Investor and His Advisers

How to work with financial advisers and evaluate their recommendations.

Chapter 10
Security Analysis for the Lay Investor

Basic techniques for analyzing stocks and bonds.

Chapter 11
Security Analysis for the Enterprising Investor

Advanced approaches to security analysis for active investors.

Chapter 12
Things to Consider About Per-Share Earnings

How to interpret and evaluate corporate financial statements.

Chapter 13
A Comparison of Four Listed Companies

Case studies illustrating Graham's analytical methods.

Chapter 14
Stock Selection for the Defensive Investor

Specific criteria for choosing stocks that meet defensive standards.

Chapter 15
Stock Selection for the Enterprising Investor

Methods for finding undervalued securities.

Chapter 16
Convertible Issues and Warrants

An analysis of these hybrid securities and their place in a portfolio.

Chapter 17
Four Extremely Instructive Case Histories

Real-world examples that illustrate important investment principles.

Chapter 18
A Comparison of Eight Pairs of Companies

Contrasting examples that highlight Graham's analytical approach.

Chapter 19
Shareholders and Managements

The relationship between corporate governance and investment value.

Chapter 20
Margin of Safety as the Central Concept of Investment

Graham's most important principle for reducing risk.