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The Intelligent Investor, 3rd Ed.: The Definitive Book on Value Investing Hardcover – October 22, 2024

4.7 out of 5 stars 155 ratings

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75th Anniversary Edition

The classic work on investing, filled with sound and safe principles that are as reliable as ever, now revised with an introduction and appendix by financial legend Warren Buffett—one of the author’s most famous students—and newly updated commentaries on each chapter from distinguished Wall Street Journal writer Jason Zweig.

“By far the best book about investing ever written.”—Warren Buffett

Since its original publication in 1949, Benjamin Graham’s revered classic, The Intelligent Investor, has taught and inspired millions of people worldwide and remains the most respected guide to investing. Graham’s timeless philosophy of “value investing” helps protect investors against common mistakes and teaches them to develop sensible strategies that will serve them throughout their lifetime.

Market developments over the past seven decades have borne out the wisdom of Graham’s basic policies, and in today’s volatile market, The Intelligent Investor remains essential. It is the most important book you will ever read on making the right decisions to protect your investments and make them grow.

Featuring updated commentaries which accompany every chapter of Graham’s book—leaving his original text untouched—from noted financial journalist Jason Zweig, this newly revised edition offers readers an even clearer understanding of Graham’s wisdom and how it should be applied by investors today.

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Editorial Reviews

Review

“By far the best book about investing ever written.” — Warren Buffett

“If you read just one book on investing during your lifetime, make it this one.” — Fortune

“The wider Mr. Graham’s gospel spreads, the more fairly the market will deal with its public.” — Barron's

“The most important investing book ever written. Jason Zweig’s masterful commentary provides a modern lens to this timeless wisdom.”  — Morgan Housel, author of The Psychology of Money

The Intelligent Investor teaches that value investing occurs at the intersection of fundamental investment analysis and psychology. It's the marriage of a calculator and a contrarian streak. If you find the right balance between the two, you inhabit a fruitful space that most investors won’t have the tenacity, patience, or stamina to occupy. Zweig’s latest update weaves recent market developments, fads, and follies into this classic guide, making it more relevant than ever before. The principles, though, need no updating.” — Seth A. Klarman, CEO of the Baupost Group

“Benjamin Graham is no longer here to advise investors when markets act up, but no one channels him better than Jason Zweig, who brings the great master's counsel into the twenty-first century with cutting-edge academic research, dead-on commentary, and trademark wit. It's easy to imagine Graham nodding to himself, and occasionally chuckling, as he turns the pages of this new edition of The Intelligent Investor.” — William J. Bernstein, author of The Four Pillars of Investing

“Enduring wisdom from the man who trained Warren Buffett, with commentary by preeminent financial columnist Jason Zweig showing how relevant Graham’s principles are today. This treatise deserves a central place on the bookshelf of every intelligent investor.” — Burton G. Malkiel, author of A Random Walk Down Wall Street

“Jason Zweig has done an important favor for all serious investors by representing Benjamin Graham’s great book, enhanced by footnotes and chapter-by-chapter commentary full of insights and contemporary examples. Expert investors and beginning investors—and all investors between—will enjoy and profit from making the time to enjoy and learn from this wonderful book!” — Charles D. Ellis, founder of Greenwich Associates and author of Winning the Loser's Game

“Ben Graham was the most learned of professional investors and The Intelligent Investor is the bible of value investing. Jason Zweig, the wisest of financial journalists, has done something remarkable: created a new edition that is even better than the original. A must read for any serious investor." — Bill Miller, founder of Miller Value Partners

About the Author

Benjamin Graham (1894–1976), the father of financial analysis and value investing, has been an inspiration for generations of the world’s most successful businesspeople. He was also the author of Security Analysis and The Interpretation of Financial Statements.




Jason Zweig is a journalist and personal finance columnist for The Wall Street Journal. He is the author of Your Money and Your Brain (Simon & Schuster, 2007), one of the first books to explore the neuroscience of investing, and The Devil’s Financial Dictionary (PublicAffairs, 2015), a satirical glossary of Wall Street. A frequent commentator on television and radio, Zweig is also a popular public speaker who has addressed the American Association of Individual Investors, the Aspen Institute, the CFA Institute, the Morningstar Investment Conference, and university audiences at Harvard, Stanford, and Oxford. Zweig was for many years a trustee of the Museum of American Finance, an affiliate of the Smithsonian Institution. He serves on the editorial boards of Financial History magazine and The Journal of Behavioral Finance.

Product details

  • Publisher ‏ : ‎ Harper Business; 3rd edition (October 22, 2024)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 640 pages
  • ISBN-10 ‏ : ‎ 0063356724
  • ISBN-13 ‏ : ‎ 978-0063356726
  • Item Weight ‏ : ‎ 2.31 pounds
  • Dimensions ‏ : ‎ 6 x 1.69 x 9 inches
  • Customer Reviews:
    4.7 out of 5 stars 155 ratings

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Customer reviews

4.7 out of 5 stars
155 global ratings

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Customers say

Customers find the book provides brilliant investment advice that remains remarkably relevant for today's informed investor. Moreover, they appreciate the helpful commentary included in this edition.

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9 customers mention "Value for money"9 positive0 negative

Customers find the book provides brilliant investment advice and is remarkably relevant for today's informed investor.

"Still valid concepts and the current commentary is helpful. It's not an easy read, however." Read more

"...The commentary included in this edition is incredibly helpful, offering modern insights and breaking down Graham’s ideas in a way that’s easier to..." Read more

"...guidance on value investing from the 1950s are remarkably relevant for today's informed investor...." Read more

"No hyperbole. Good solid insights and advice. Highest recommendation." Read more

4 customers mention "Commentary"4 positive0 negative

Customers appreciate the helpful commentary included in this edition of the book.

"Still valid concepts and the current commentary is helpful. It's not an easy read, however." Read more

"...The commentary included in this edition is incredibly helpful, offering modern insights and breaking down Graham’s ideas in a way that’s easier to..." Read more

"...What I liked is that this edition includes commentary on Benjamin Graham’s classic text." Read more

"A timeless classic, the updated commentaries are excellent. A must read for any serious value investor." Read more

Timeless Wisdom for Investors: A Must-Have 75th Anniversary Edition
5 out of 5 stars
Timeless Wisdom for Investors: A Must-Have 75th Anniversary Edition
I’ve been fascinated by investing and the markets from a young age, but only in recent years has it become feasible for me to take action and start making my own investments. Personal finance has always been a vital topic to me, and I enjoy reading books that deepen my understanding. Naturally, Benjamin Graham’s The Intelligent Investor has been on my radar for some time. What’s crazy is how perfectly the timing worked out. I had been thinking about getting the book when I stumbled upon an episode of the TIP Podcast featuring the commentator of this 75th-anniversary edition. Hearing about the new release made me even more excited to finally pick it up. I’m so glad I did! The book itself is of excellent quality—well-made, with a great price point for such a valuable resource. The commentary included in this edition is incredibly helpful, offering modern insights and breaking down Graham’s ideas in a way that’s easier to understand for today’s investors. If you’re serious about investing or just starting to take personal finance seriously, this book is an absolute must. Graham’s wisdom is timeless, and this anniversary edition makes it accessible and relevant for a new generation of investors.
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Top reviews from the United States

  • Reviewed in the United States on April 15, 2025
    Still valid concepts and the current commentary is helpful. It's not an easy read, however.
    One person found this helpful
    Report
  • Reviewed in the United States on November 15, 2024
    I’ve been fascinated by investing and the markets from a young age, but only in recent years has it become feasible for me to take action and start making my own investments. Personal finance has always been a vital topic to me, and I enjoy reading books that deepen my understanding. Naturally, Benjamin Graham’s The Intelligent Investor has been on my radar for some time.

    What’s crazy is how perfectly the timing worked out. I had been thinking about getting the book when I stumbled upon an episode of the TIP Podcast featuring the commentator of this 75th-anniversary edition. Hearing about the new release made me even more excited to finally pick it up.

    I’m so glad I did! The book itself is of excellent quality—well-made, with a great price point for such a valuable resource. The commentary included in this edition is incredibly helpful, offering modern insights and breaking down Graham’s ideas in a way that’s easier to understand for today’s investors.

    If you’re serious about investing or just starting to take personal finance seriously, this book is an absolute must. Graham’s wisdom is timeless, and this anniversary edition makes it accessible and relevant for a new generation of investors.
    Customer image
    5.0 out of 5 stars
    Timeless Wisdom for Investors: A Must-Have 75th Anniversary Edition

    Reviewed in the United States on November 15, 2024
    I’ve been fascinated by investing and the markets from a young age, but only in recent years has it become feasible for me to take action and start making my own investments. Personal finance has always been a vital topic to me, and I enjoy reading books that deepen my understanding. Naturally, Benjamin Graham’s The Intelligent Investor has been on my radar for some time.

    What’s crazy is how perfectly the timing worked out. I had been thinking about getting the book when I stumbled upon an episode of the TIP Podcast featuring the commentator of this 75th-anniversary edition. Hearing about the new release made me even more excited to finally pick it up.

    I’m so glad I did! The book itself is of excellent quality—well-made, with a great price point for such a valuable resource. The commentary included in this edition is incredibly helpful, offering modern insights and breaking down Graham’s ideas in a way that’s easier to understand for today’s investors.

    If you’re serious about investing or just starting to take personal finance seriously, this book is an absolute must. Graham’s wisdom is timeless, and this anniversary edition makes it accessible and relevant for a new generation of investors.
    Images in this review
    Customer image
    11 people found this helpful
    Report
  • Reviewed in the United States on February 7, 2025
    When considering purchasing this book, I read Mr. Warren Buffett's highly complimentary remarks and thought, if it's good enough for him... In reading the Intelligent Investor, it's clear Benjamin Graham's principles, advice and guidance on value investing from the 1950s are remarkably relevant for today's informed investor. If you're serious about learning about investing before launching into the stock market, the Intelligent Investor is a must read.
    2 people found this helpful
    Report
  • Reviewed in the United States on March 2, 2025
    Most of the important stuff is in the first few chapters. The rest is commentary.
    One person found this helpful
    Report
  • Reviewed in the United States on February 26, 2025
    No hyperbole. Good solid insights and advice. Highest recommendation.
    One person found this helpful
    Report
  • Reviewed in the United States on December 24, 2024
    I bought a copy of this book for myself and 1 for my brother. What I liked is that this edition includes commentary on Benjamin Graham’s classic text.
    2 people found this helpful
    Report
  • Reviewed in the United States on February 9, 2025
    A good read. Interesting. Helpful.
  • Reviewed in the United States on January 2, 2025
    A timeless classic, the updated commentaries are excellent. A must read for any serious value investor.

Top reviews from other countries

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  • Sampson opoku ware
    2.0 out of 5 stars This is how I received it.
    Reviewed in Canada on January 15, 2025
    Customer image
    Sampson opoku ware
    2.0 out of 5 stars
    This is how I received it.

    Reviewed in Canada on January 15, 2025

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  • B. Tipper
    5.0 out of 5 stars Every investment journey should start here.
    Reviewed in the United Kingdom on March 21, 2025
    This is a high level book, which is difficult to read at points, but is enhanced greatly by the additional chapters which bring everything up to date for modern markets.

    This book won't specifically teach you how to value a company or pick specific shares. What it will do, is give you a psychological and structured reprogramming of how you approach investment. It will teach you simple concepts that will reset your approach to looking at investments in general.

    If you're going to start an investment journey I would absolutely start here with this Third Edition, so that you don't go into investing with a gung-ho approach that's going to make you poor, exceptionally quickly.
  • Ron K.
    5.0 out of 5 stars Intelligent Investing
    Reviewed in Australia on November 22, 2024
    I have enjoyed this book, so far. I understand the themes, but the facts are 20-50 years ago. It is still good to read & re-establish ideas that I had/have.
  • Roman B.
    5.0 out of 5 stars timeless classic updated for 2024
    Reviewed in Germany on November 8, 2024
    hardcover book respects specs. looks good and the content is a classic + revamped by author to fit current times (includes additional resources like super investors of graham and doddville).

    the only slight minus the hardcover is plain cardboard (except the spine) so it could have been a bit better for the price. the booklet saves this small problem.
  • Hamza Lounissi
    1.0 out of 5 stars État un peu usé
    Reviewed in France on February 25, 2025
    L’état du livre n’est pas neuf
    Customer image
    Hamza Lounissi
    1.0 out of 5 stars
    État un peu usé

    Reviewed in France on February 25, 2025
    L’état du livre n’est pas neuf
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    Report