---
title: "Classic investment book recommendation: “The Intelligent Investor”"
description: "This classic work by Benjamin Graham is hailed as the bible of value investing, particularly suitable for retail investors to establish a sound investment philosophy. Core values: The concept of margi"
type: "topic"
locale: "en"
url: "https://longbridge.com/en/topics/38801357.md"
published_at: "2026-02-20T12:20:44.000Z"
author: "[不要偷看](https://longbridge.com/en/profiles/16833417)"
---

# Classic investment book recommendation: “The Intelligent Investor”

This classic work by Benjamin Graham is hailed as the bible of value investing, particularly suitable for retail investors to establish a sound investment philosophy.

Core Values:

Margin of Safety Concept: Graham emphasized the importance of maintaining a sufficient margin of safety when investing, meaning buying stocks at a price significantly below their intrinsic value, which provides a buffer for investors.

Mr. Market Analogy: The market is likened to an emotional "Mr. Market," reminding investors not to be swayed by market sentiment but to make rational decisions based on fundamental analysis.

Defensive Investor Strategy: Provides practical and actionable investment methods for ordinary investors, with particular emphasis on diversification and long-term holding.

Contemporary Relevance:

Although the book was first published in 1949, its core principles remain applicable in today's market. Warren Buffett once called this book "the best book on investing ever written" and updated the relevant concepts in the 1973 preface to make them more relevant to the modern market environment.

Notable Quotes:

"The essence of investment management is the management of risks, not the management of returns. The intelligent investor is a realist who sells to optimists and buys from pessimists." (Note: The provided Chinese quote was translated back to English based on its meaning, as the exact original English quote from Graham may vary. The translation reflects the core idea.)

Implications for Retail Investors:

Long-term Perspective: Avoid short-term trading and focus on the long-term value creation of businesses.

Fundamental Analysis: Learn to read financial statements and understand the true value of a company.

Emotional Control: Stay calm during market panics and remain cautious during market euphoria.

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.