The Intelligent Investor. A Book of Practical Counsel
New York: Harper & Brothers, 1949.
New York: Harper & Brothers, 1949. First edition. Octavo, original blue cloth, original dust jacket. Housed in a custom clamshell box. First-issue dust jacket, with $3.50 price and “Editor of Barron’s” on front flap. Book near-fine, with light soiling to upper corner of first few pages of text. Rare dust jacket near-fine, with a few tiny spots and only light wear and toning to extremities. A handsome, near-fine copy.
Extremely rare first edition of Graham’s classic work, in original dust jacket.
After the overwhelming success of his groundbreaking work, Security Analysis, in 1949 Benjamin Graham, “motivated by the need for consumer education and protection… produced a version of his investment text designed for the individual investor. Such a reader was likely to be put off by the size and depth of Security Analysis… The Intelligent Investor was a hit. A book of less than half the size of Security Analysis, nevertheless it was written with the same clarity and integrity. In it, Graham clearly distinguished between investing and speculating. An investment, he explained, was based on incisive, quantitative analysis, while speculation depends on whim and guesswork… Graham intended the book for the man on Main Street, but as with his earlier book, Wall Street professionals found it indispensable. Because it was so widely read, the book brought greater visibility, respect and prestige to the field of security analysis” (Lowe, 129-30). “Benjamin Graham was a seminal figure on Wall Street and is widely acknowledged to be the father of modern security analysis… Security Analysis and The Intelligent Investor are still considered the ‘bibles’ for both individual investors and Wall Street professionals” (The Buffer Stock Project). Rare. Near Fine in Near Fine dust jacket. (Item #892)