Value investing1949
The Intelligent Investor
Benjamin Graham
A foundation for margin of safety, Mr. Market, and separating investing from speculation.
Mental models
Model 1
Use this model to estimate value instead of forecasting short-term price.
Model 2
Use this model to demand a margin of safety.
Model 3
Use this model to prioritize avoiding permanent loss.
Model 4
Use this model to wait for price and quality to align.