Part 2 of 2
Jason Zweig, editor of the 75th anniversary edition of The Intelligent Investor, shares Benjamin Graham’s classic rules for successful investing.
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Jason Zweig
ACTION POINT
PROTECT YOURSELF FROM MARKET MADNESS
“The investor’s chief problem – and even his worst enemy – is likely to be himself.”
– Benjamin Graham, The Intelligent Investor
INTELLIGENT INVESTOR’S “BASIC ADVANTAGE”
- Independence of thought & action
- Not under pressure to outperform peers or market
- Infinite time frame
- Don’t have to justify investments
- Can buy when “Mr. Market” is miserable & sell when he is euphoric
ZWEIG’S DISCIPLINE
- Construct “investor hygiene” structures:
- Series of rules, policies & procedures
- Must be followed before any investment decision
- No exceptions
BOOKSHELF
ONE INVESTMENT
ZWEIG: WIDEN WEALTH VISION
Think of wealth in several buckets:
- Fill them during your investment career
- Financial capital bucket: Cash, stocks, bonds, mutual funds, ETFs
- Physical capital bucket: House, car, second home, collectibles, antiques, art
- Human capital bucket: Value of career, job
Make the most of all three buckets and ensure they work together.
FROM THE WEALTHTRACK ARCHIVES
WEB EXTRA
ZWEIG: INVESTMENT CLASSICS
Award-winning journalist Jason Zweig has edited two editions of Ben Graham’s The Intelligent Investor, considered to be the bible of investing. But he has two other investment classics of another sort to recommend to us.
