The Intelligent Investor PDF Free Download in Hindi by Benjamin Graham.
The intelligent investor by Benjamin Graham, first published in 1949. It’s one of the auspicious works done by graham. Benjamin Graham was a British-born American economist, professor, and investor. “He is widely known as the father of value investing”. He was born on May 19, 1894, in London, UK.
He is one of the intelligent economists of his time, he passed his graduation from Colombia university UK at the age of 20. From there only he starts investing money in different kinds of funds after a false carrier in investment he studied the stock market thoroughly and then; start giving advice to the collager or the jobs and then he starts writing his books, his book The Intelligent Investor is one of the masterpieces in the field of investment advice and also encouraged by billionaire Warren Buffet.
He is awarded by many institutions and many investing authorities for his great work. He died on September 21, 1976.
The Intelligent Investor was written and published in 1949. This book is also called the bible of investing as the content of the book covers the basics and the precautions that are adopted by a particular investor who is investing in the market, as the market is creepy or a nasty thing for the amateurs, so this book provides good knowledge to the amateurs or the toddlers of the market.
Summary of the book (THE INTELLIGENT INVESTOR)
In this book graham describe the definition of investing, he corrected it as each and everyone thinks that investing is like just buy something at a low price and then sell it more than its buying price i.e the cost price is lesser than its selling price, so that this investment gives profit to the investor but according to graham this is not investing. Investing consists of three things.
1. Through analysis.
2. Adequate return.
3. Safety of principle.
According to graham, if these three things or these three criteria are not present in investing then you are not doing any investing you are just engaged in gambling or speculation. These three are like most criteria for investing. In this book, graham called the market “Mr. Market”. Graham says that; “market offers you shares everyday at different prices.
What he believes the worth of business is “. Most of the days Mr market is right and if you are investing according to the values given by Mr market then hopefully, you got the return of sixty percent to seventy percent but not always. Sometimes Mr market is just fooling you with the values so that the balance is maintained in the market. Sometimes you have to use your own intelligence to invest in the market. According to Graham, a good investor invests his money when the market is low and makes money when the market is high i.e “invest when the market is overly pessimistic and sell when he is irrationally optimistic.
The most important thing which causes the revolution in the field of investment is the “margin of safety “. In this concept or criteria, graham told that “if a contractor gives you a contract of building a bridge capacity 10000 pounds than it’s your responsibility and your margin of safety to build a bridge holding a capacity of 12000 pounds so that it can easily hold an upper limit of the bridge so that it will never collapse. So that you need a margin of safety i.e if you are investing in buying shares, then buy it at a low price that is if you think that the stock is worth 100 rs. don’t buy while it comes to 80 rs or 70 rs. price.
Benjamin graham speaks about the type of investor, he categorized invested in two types- 1. Defensive. 2. Enterprising. A defensive investor is the one who flows on avoiding loss. Devoter less time for research and takes less risk and an Enterprising investor is one who takes more risk devoter more time, more trust on himself and do more analysis as compared to the defensive investors. Graham writes over many decades an enterprising investor of his sort could expect a worthwhile reward for his extra skill and effort in the form of a better than average return realized by a defensive investor.
Quality of Defensive investors:
1. That runs on autopilot.
2. Announce in making decisions.
3. Full of emotions.
4. Average market returns.
Quality of Enterprising investors:
1. Makes decisions through analysis.
2. Decisions-making nature.
3. Don’t show their emotions, emotionally stable.
4. High market returns.
Another type of investor is hybrid investors these are of that kind who is both Defensives as well as Enterprising investors. Graham says these are the curse to the investing sector as they just invest by the manipulation of a particular stoke didn’t take any advice they always face loss in their market return.
Five strategies to maximize return:-
1. Requires least effort, invest fund (mutual funds)
2. (a) Current assets twice more than disability.
(b) Minimum one-third increase in EPS over a 10year basis.
(C) Number of stokes 10-30.
3. For Enterprising investors –
(a) Current assets minimum 1.5 times of current liabilities.
(b) No loss in 5 years.
(c) Number of stoke minimum 20.
4. More risk more reward. –
(a) Avoid those who are not profitable in the last two years.
(b) Number of stokes 30.
5. Situational investing –
(a) Smaller companies acquired by larger ones.
(b) Number of stokes 2-4.
(c) Snip off.
This book is recommended by Warren Buffet. This book is one of the masterpieces in the field of investment advising.
The Intelligent Investor PDF Free Download
To download the pdf please click on the link given below. In this book, there are 640 pages and this is all about the stock market that how should you invest money in the market, and how to make a profit. This book is written by Benjamin Graham.
The Intelligent Investor Hindi PDF Download. If you want to invest money and want knowledge about the stock market then please read the book THE INTELLIGENT INVESTOR at once you surely have a great result.