The Intelligent Investor

Three key ideas

1. 1Investment rests on analysis, protecting principal, and a satisfactory return. Speculation leans on price moves.
2. 2A price is an offer you can weigh, not a command to share the crowd's mood.
3. 3A margin of safety leaves room for error in your estimate of value.

The five 2-minute lessons

1. 1.Investing or betting on the price?
2. 2.A price is an offer, not an order
3. 3.Leave room for error
4. 4.Match your effort to the approach
5. 5.Protect a disciplined process

From the comic

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