GRAHAM, Benjamin.
The Intelligent Investor.
New York: Harper & Brothers Publishers , 1949.
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"By far the best book on investing ever written" (Warren Buffett): Rare First Edition of The Intelligent Investor; Inscribed by Benjamin Graham
First edition, first printing with D-Y on the copyright page of the author's classic work. Octavo, original cloth. Presentation copy, inscribed by the author on the front free endpaper, "To Major Benj. H. Namm with the regards of Ben Graham May 1951." Near fine in a near fine dust jacket. The exact number of copies in the first print run (April 1949) of The Intelligent Investor is not officially recorded in publishing archives, but the initial run is believed to have been very small. Because Graham had previously published an extremely dense textbook (Security Analysis), this new guide was initially intended only for individual, non-professional investors and was expected to have limited commercial appeal. Provenance: From the collection of Major Benjamin H. Namm; acquired by Raptis Rare Books. Major Benjamin H. Namm (1888-1969) was a prominent American businessman, military veteran, and civic leader, best known for expanding his family's highly successful A.I. Namm & Son department store in Downtown Brooklyn into one of the largest retail establishments in New York City. During World War I, he served overseas with the Corps of Engineers, ultimately attaining the rank of Major and serving as Chief Gas Officer of the 5th Division, which was cited by General Pershing for its crossing of the Meuse. As president of A.I. Namm & Son, he became a leading advocate for the retail industry during World War II, famously describing retailers as the "quartermaster for the country's civilian population." His civic life was equally distinguished: he served as president of the Brooklyn Federation of Jewish Charities, was appointed New York City Fuel Administrator during the 1920 coal shortage, and was a founding member of the Board of Trustees of New York City College of Technology (City Tech), where the Benjamin Harrison Namm Scholarship was established in his memory. Signed first printings are of the utmost scarcity.
Since it was first published in 1949, Graham's Intelligent Investor has sold millions of copies and has been praised by such luminaries as Warren E. Buffet as "the best book on investing ever written." "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). Graham’s main investment approach outlined in The Intelligent Investor is that of value investing, an investment strategy that targets undervalued stocks of companies that have the capabilities as businesses to perform well in the long run. To determine value, investors use fundamental analysis. Mathematically, by multiplying forecasted earnings over a certain number of years times a capitalization factor of a company, value can be determined and then compared to the actual price of a stock. There are five factors that are included in determining the capitalization factor, which are long-term growth prospects, quality of management, financial strength and capital structure, dividend record, and current dividend rate. To understand these factors, value investors look at a company's financials, such as annual reports, cash flow statements and EBITDA, and company executives' forecasts and performance.
The Intelligent Investor.
$150,000.00
Out of Stock
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