title: The intelligent investor;: A book of practical counsel
author:  Benjamin Graham 
description: A book by probably the most respected, an collected, stock market guru, Benjamin Graham.
zlib_text: ![](Images/image00417.jpeg)
  
  **The Intelligent Investor**
  
   **A Book of Practical Counsel**
  
  Revised Edition
  
   **Benjamin Graham**
  
  Updated with New Commentary by Jason Zweig
  
  ![](Images/image00443.jpeg)
  
  To E.M.G.
  
  Through chances various, through all
  
  vicissitudes, we make our way….
  
   _Aeneid_
  
   ****_**Contents**_ ****
  
  > Epigraph
  
  > Preface to the Fourth Edition, by Warren E. Buffett
  
  > A Note About Benjamin Graham, by Jason Zweig
  
  > Introduction: What This Book Expects to Accomplish
  
  > Commentary on the Introduction
  
  1\. Investment versus Speculation: Results to Be Expected by the Intelligent
  Investor
  
  > Commentary on Chapter 1
  
  2\. The Investor and Inflation
  
  > Commentary on Chapter 2
  
  3\. A Century of Stock-Market History: The Level of Stock Prices in Early 1972
  
  > Commentary on Chapter 3
  
  4\. General Portfolio Policy: The Defensive Investor
  
  > Commentary on Chapter 4
  
  5\. The Defensive Investor and Common Stocks
  
  > Commentary on Chapter 5
  
  6\. Portfolio Policy for the Enterprisi