A deluxe hardcover reissue of the 1949 classic features a new foreword and counsels readers on how to develop long-term strategies, protect investment interests, and avoid key errors. By the author of The Interpretation of Financial Statements. 20,000 first printing. Offers the investing principles as the author originally laid them out - principles that continue to stand more than half a century since the book was first published. This book tells about making the right decisions to protect your investments and make them a success. Foreword by John C. Bogle ix Introduction: What This Book Expects to Accomplish xxiii PART I GENERAL APPROACHES TO INVESTMENT I What the Intelligent Investor Can Accomplish 3(18) II The Investor and Stock-Market Fluctuations 21(24) III The Investor and His Advisers 45(10) IV General Portfolio Policy: The Defensive Investor 55(20) V Portfolio Policy for the Aggressive Investor: Negative Approach 75(14) VI Portfolio Policy for the Enterprising Investor: The Positive Side 89(20) PART II PRINCIPLES OF SECURITY SELECTION 109(96) VII United States Savings Bonds: A Boon to Investors 111(12) VIII Security Analysis for the Lay Investor: General Approach 123(14) IX Stock Selection for the Defensive Investor 137(10) X Stock Selection for the Enterprising Investor: The Appraisal Method 147(16) XI Detection of Undervalued Issues by Security Analysis: Three Examples 163(12) XII The Pattern of Change in Stock Earnings and Stock Prices 175(20) XIII Group Studies of Earnings and Price Developments 195(10) PART III THE INVESTOR AS BUSINESS OWNER 205(34) XIV Stockholders and Managements 207(20) XV A Study of Stockholder-Management Relations in Two Industries 227(12) PART IV CONCLUSION 239(12) XVI Margin of Safety as the Central Concept of Investment 241(10) Appendix: Buying and Selling by Central Value Method 251(6) Index 257(8) About Benjamin Graham 265(2) About John C. Bogle 267