Recently I have gone through this interesting book on value investing. And I can truly say that this is a masterpiece and need to reread it again and again over the period of time. I got bitten by this concept of value investing in my late 20s and I have started reading about value investing on lot of blogs and books. In almost all the blogs everyone has mentioned about this book. So here is book summary for intelligent investor. First advise that Ben has given is avoid speculations . Well as a beginner I have used speculations and paid the price for that. Until and unless I burn my fingers, I can not learn. Company should sound promising inherently, and should not be popular on social media, news or any other platform. One should not delude himself into thinking that he is investing while actually he is speculating. Speculations are harmful to investment. Biggest advantage or disadvantage of stock market is, it will always overreact. Or on other words market is more volatile an