This classic text is annotated to update Graham's timeless wisdom for today's market conditions...The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949.Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles.Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.

Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people.Money―investing, personal finance, and business decisions―is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.

First and foremost, this booklet is available for free on my website "efficientfrontier-dot-com," you'll have to click through a few links. (Amazon doesn't allow discrete web links.) Many readers, however, have asked for a hard copy version suitable for gift giving; here it is. With that out of the way: For years I've thought about a project to help today's young people invest for retirement because, frankly, there's still hope for them, unlike for most of their Boomer parents. All they'll have to do is to put away 15% of their salaries into a low-cost target fund or a simple three-fund index allocation for 30 to 40 years. Which is pretty much the same as saying that if someone exercises and eats a lot less, he'll lose 30 pounds. Simple, but not easy. Not easy because unless the millennials learn a small amount about finance, they'll fall victim to the Five Horsemen of Personal Finance Apocalypse: failure to save, ignorance of financial theory, unawareness of financial history, dysfunctional psychology, and the rapacity of the investment industry. If You Can is just the ticket to guide the young—and not so young—investor through this thicket. And, to repeat, if you just want to read the booklet, it's available for free. This paperback is intended only for gift giving.

From the host of NPR’s Planet Money, the deeply-investigated story of how one visionary, dogged investor changed American finance forever.Before Bill Gross was known among investors as the Bond King, he was a gambler. In 1966, a fresh college grad, he went to Vegas armed with his net worth ($200) and a knack for counting cards. $10,000 and countless casino bans later, he was hooked: so he enrolled in business school.The Bond King is the story of how that whiz kid made American finance his casino. Over the course of decades, Bill Gross turned the sleepy bond market into a destabilized game of high risk, high reward; founded Pimco, one of today’s most powerful, secretive, and cutthroat investment firms; helped to reshape our financial system in the aftermath of the Great Recession―to his own advantage; and gained legions of admirers, and enemies, along the way. Like every American antihero, his ambition would also be his undoing.To understand the winners and losers of today’s money game, journalist Mary Childs argues, is to understand the bond market―and to understand the bond market is to understand the Bond King.

A comprehensive and practical guide to the stock market from a successful fund manager—filled with case studies, important background information, and all the tools you’ll need to become a stock market genius.Fund manager Joel Greenblatt has been beating the Dow (with returns of 50 percent a year) for more than a decade. And now, in this highly accessible guide, he’s going to show you how to do it, too. You’re about to discover investment opportunities that portfolio managers, business-school professors, and top investment experts regularly miss—uncharted areas where the individual investor has a huge advantage over the Wall Street wizards. Here is your personal treasure map to special situations in which big profits are possible, including:-Spin-offs-Restructurings-Merger Securities-Rights Offerings-Recapitalizations-Bankruptcies-Risk ArbitragePrepared with the tools from this guide, it won’t be long until you’re a stock market genius!

Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced almost forty years ago, are not only studied and applied by today's financiers and investors, but are also regarded by many as gospel. This book is invaluable reading and has been since it was first published in 1958. The updated paperback retains the investment wisdom of the original edition and includes the perspectives of the author's son Ken Fisher, an investment guru in his own right in an expanded preface and introduction"I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits...A thorough understanding of the business, obtained by using Phil's techniques...enables one to make intelligent investment commitments."―Warren Buffet

How to overcome barriers to the long-term investments that are essential for solving the world’s biggest problemsThere has never been a greater need for long-term investments to tackle the world’s most difficult problems, such as climate change and decaying infrastructure. And it is increasingly unlikely that the public sector will be willing or able to fill this gap. If these critical needs are to be met, the major pools of long-term, patient capital―including pensions, sovereign wealth funds, university endowments, and wealthy individuals and families―will have to play a large role. In this accessible and authoritative account of long-term capital investment, two leading experts on the subject, Harvard Business School professors Victoria Ivashina and Josh Lerner, highlight the significant hurdles facing long-term investors and propose concrete ways to overcome these difficulties.Presenting the best evidence in an engaging way by using memorable stories and examples, Patient Capital describes how large investors increasingly want and need long-run investments that have the potential to deliver greater returns than those in the public markets. Yet success in such investments has been the exception. Performance has suffered from both the limitations of investors and the internal structure of their fund managers, often resulting in the wrong incentives and a lack of long-term planning.Yet the challenges facing long-term investors can be surmounted and the rewards are potentially large, both for investors and society as a whole. Patient Capital shows how to make long-term investment work better for everyone.

The go-to guide for serious investors seeking long-term success, Winning the Loser’s Game explains clearly the all-important lessons learned over half a century working with the world’s leading investment experts.Called “Wall Street’s wisest man” by Money magazine, Charles Ellis converts the expertise he has developed as a consultant to the world’s largest pension, endowment and sovereign wealth funds and as a teacher at Harvard, Yale and Princeton into candid, pithy, easy to use chapters on how to succeed as an investor.This final edition of this popular book―it has already sold over 500,000 copies―is packed with important up to the minute facts and insights into…• Why indexing continues to out-perform “active” indexing.• Why fees are much higher than most of us realize.• How 401(k) plans can and should be modernized.• Why understanding behavioral economics is so important for all investors.With Winning the Loser’s Game, you have anything you need to identify your unique investment objectives, develop a realistic and powerful investment program, and enjoy superior results.In 2 – 3 hours of easy reading, you can have the same informed and candid advice that his clients gladly pay big fees to get from Charles Ellis. You’ll also have fun.

Legendary money manager Peter Lynch explains his own strategies for investing and offers advice for how to pick stocks and mutual funds to assemble a successful investment portfolio.Develop a Winning Investment Strategy—with Expert Advice from “The Nation’s #1 Money Manager.” Peter Lynch’s “invest in what you know” strategy has made him a household name with investors both big and small.An important key to investing, Lynch says, is to remember that stocks are not lottery tickets. There’s a company behind every stock and a reason companies—and their stocks—perform the way they do. In this book, Peter Lynch shows you how you can become an expert in a company and how you can build a profitable investment portfolio, based on your own experience and insights and on straightforward do-it-yourself research.In Beating the Street, Lynch for the first time explains how to devise a mutual fund strategy, shows his step-by-step strategies for picking stock, and describes how the individual investor can improve his or her investment performance to rival that of the experts.There’s no reason the individual investor can’t match wits with the experts, and this book will show you how.

A new edition of a classic stock market guide offers clear explanations and reasonable and understandable advice on investments, updating information to cover new regulations and new opportunities. Simultaneous. 30,000 first printing.

Day trading is difficult. The path is fraught with risk. But a pot of gold awaits those who learn their lessons well. After four decades in the markets as a trader, analyst, author, educator, and system developer, Jacob Bernstein sets down a comprehensive guide to the art of day trading.You will learn: New day trading methods Order entry strategies How to avoid costly errors when using electronic trading platforms Detailed strategies to maximize profitsWith this book, readers will have the complete guide they need to profit from this risky but exciting field. Trading profits are just a day away.

Investors are all too often lured by the prospect of instant millions and fall prey to the many fads of Wall Street. The myriad approaches they adopt offer little or no real prospect for long-term success and invariably run the risk of considerable economic loss - they resemble speculation or outright gambling, not a coherent investment program. But value investing - the strategy of investing in securities trading at an appreciable discount from underlying value - has a long history - has a long history of delivering excellent investment results with limited downside risk. Taking its title from Benjamin Graham's often-repeated admonition to invest always with a margin of safety, Klarman's 'Margin of Safety' explains the philosophy of value investing, and perhaps more importantly, the logic behind it, demonstrating why it succeeds while other approaches fail. The blueprint that Klarman offers, if carefully followed, offers the investor the strong possibility of investment succe

The new Fourth Edition of the definitive handbook on investing in Real Estate Investment Trusts (REITs)Real Estate Investment Trusts (REITs), which provide some of the best total returns in the investment world, along with above-average dividend yields and stable earnings, have become increasingly popular with both individual and institutional investors. Investing in REITs, Fourth Edition has established itself as the definitive guide to understanding this attractive asset class. The book is invaluable for investors, financial planners, and investment advisers interested in understanding REITs and REIT investment opportunities.As their earnings and dividends are beginning to grow again after the Great Recession―and as they are in a unique position to take advantage of distressed sale opportunities―now is an excellent time for investors to consider REITs for both diversification and strong total returns. The new edition covers: A comprehensive history of the REIT industry How REITs compare with other competitive investments How to spot blue-chip REITs and control investment risk How to value individual REIT stocks, and REIT shares generally How to build a diversified REIT portfolio, directly or with REIT mutual funds Understanding the risk-and-reward dynamics of commercial real estate Assessing non-US REITs and how to invest in them Important new developments and strategies in the REIT industryAuthor Ralph L. Block, who has been investing in REIT stocks for 40 years and is widely considered a leading authority on REITs, brings the historical success of Investing in REITs right up to date. This book is an essential read for both individuals and institutions who desire to invest in commercial real estate through REIT stocks.

Named by U.S. News and World Report as a Top 10 Retirement Planning Book for 2023AMAZON BEST SELLER IN WEALTH MANAGEMENTAMAZON BEST SELLER IN RETIREMENT PLANNINGWorry less. Plan more.Do you want a secure retirement, free from worry, stress, and confusion? The Bucket Plan is a must-read book for anyone serious about creating a practical and sensible financial plan for his or her retirement years. The financial planning process outlined in this book — newly updated in 2023 — is based on a three-bucket philosophy of strategically positioning assets to plan for and mitigate the risks and dangers that can occur in retirement.Readers will learn:• The three biggest dangers for your financial future and how The Bucket Plan® helps protect from them• A formula for calculating whether you will have an income deficit and, if so, how much money is needed to prevent it• A surefire way to avoid taking on too much investment risk on money you may need in the near future• Much, much moreWhen readers strategically allocate their money using Jason L Smith's three-bucket philosophy, they can create a plan that mitigates risk and offers an opportunity for growth into the future, allowing them to feel more secure about retirement.

“An outstanding book about CEOs who excelled at capital allocation.” — Warren Buffett#1 on Warren Buffett’s Recommended Reading List, Berkshire Hathaway Annual Shareholder Letter, 2012Named one of “19 Books Billionaire Charlie Munger Thinks You Should Read” in Business Insider.“A book that details the extraordinary success of CEOs who took a radically different approach to corporate management.” — Charlie Munger, Vice-Chairman of Berkshire Hathaway Corporation“Thorndike explores the importance of thoughtful capital allocation through the stories of eight successful CEOs. A good read for any business leader but especially those willing to chart their own course.” — Michael Dell, chairman of the board of directors and chief executive officer of DellWhat makes a successful CEO? Most people call to mind a familiar definition: “a seasoned manager with deep industry expertise.” Others might point to the qualities of today’s so-called celebrity CEOs—charisma, virtuoso communication skills, and a confident management style. But what really matters when you run an organization? What is the hallmark of exceptional CEO performance? Quite simply, it is the returns for the shareholders of that company over the long term.In this refreshing, counterintuitive book, author Will Thorndike brings to bear the analytical wisdom of a successful career in investing, closely evaluating the performance of companies and their leaders. You will meet eight individualistic CEOs whose firms’ average returns outperformed the S&P 500 by a factor of twenty—in other words, an investment of $10,000 with each of these CEOs, on average, would have been worth over $1.5 million twenty-five years later. You may not know all their names, but you will recognize their companies: General Cinema, Ralston Purina, The Washington Post Company, Berkshire Hathaway, General Dynamics, Capital Cities Broadcasting, TCI, and Teledyne. In The Outsiders, you’ll learn the traits and methods—striking for their consistency and relentless rationality—that helped these unique leaders achieve such exceptional performance.Humble, unassuming, and often frugal, these “outsiders” shunned Wall Street and the press, and shied away from the hottest new management trends. Instead, they shared specific traits that put them and the companies they led on winning trajectories: a laser-sharp focus on per share value as opposed to earnings or sales growth; an exceptional talent for allocating capital and human resources; and the belief that cash flow, not reported earnings, determines a company’s long-term value.Drawing on years of research and experience, Thorndike tells eye-opening stories, extracting lessons and revealing a compelling alternative model for anyone interested in leading a company or investing in one—and reaping extraordinary returns.

Fully Updated! Covering cryptocurrency and NFTs, Robinhood, GameStop, the after-effects of COVID, and how climate change impacts investing.The Only Investment Guide You'll Ever Need has been a favorite finance guide, earning the allegiance of more than a million readers across America.Using concise, witty, and truly understandable tips and explanations, Andrew Tobias delivers sensible advice and useful information on savings, investments, preparing for retirement, and much more. This completely updated edition will show you the best way to manage your money, no matter what your means.