An excellent article from Barton BIGGS in this week's Money Express ...
So I think there couldn't be any better time than this to re-visit Benjamin Graham's "The Intelligent Investor", "by far the best book on investing ever written" (to quote Warren Buffett).
As Buffett wrote after Graham's death:
"Walter Lipman spoke of men who plant trees that other men will sit under. Ben Graham was such a man."
And what is an intelligent investor in Graham's view?
"The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The intelligent investor is a realist who sells to optimists and buys from pessimists."
As Buffett wrote after Graham's death:
"Walter Lipman spoke of men who plant trees that other men will sit under. Ben Graham was such a man."
And what is an intelligent investor in Graham's view?
"The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The intelligent investor is a realist who sells to optimists and buys from pessimists."
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