Some of the most innovative ideas presented in 'The Intelligent Investor' include the concept of 'value investing'. This involves buying stocks at a price less than their intrinsic value and holding them until the market recognizes their true value. Another surprising idea is the emphasis on the investor's emotional discipline. The book suggests that the investor's ability to maintain an even keel and resist the urge to follow the crowd is more important than complex financial calculations. Lastly, the book introduces the idea of 'Mr. Market', a metaphor for the volatile stock market. It teaches investors to take advantage of Mr. Market's mood swings rather than being led by them.

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In the 1980's bull market, 4000 stocks flooded the market, leading to the crash of 1987. IPOs dried up between 1988 -1990, contributing to the 90's bull market where nearly 5000 new stocks were listed. After the Dotcom bubble, only 88 companies issued IPOs in 2001. An investor who bought every IPO at its public closing price from 1980 to 2001 would have underperformed the market by more than 23% annually.

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The Intelligent Investor

This book will not teach you how to beat the market. However, it will teach you how to reduce risk, protect your capital from loss and reliably genera...

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