The Intelligent Investor by Benjamin Graham

There are several excellent books in print which were written by extremely successful money managers, and “The Intelligent Investor” by Benjamin Graham is one of them (“The Alchemy of Finance” by George Soros is another one).  Graham was Warren Buffett’s teacher and mentor and ran the Graham Newman investment partnership in the first part of the 20th century.  This book outlines Graham’s philosophy of value investing.  The book is relatively easy to understand for a lay person, and outlines in detail the underlying principals behind Graham’s investment philosophy and how it can be applied to analyzing and valuing individual securities.