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If you will read only one book... This book has taken me through one of the biggest crashes in market history and the following recovery over the last two years or so. Although written decades ago, Graham's ideas and his presentation is so clear, it all still makes sense. Thoughts and ideas presented in this book can be put to immediate use as you go through the book. Building the discipline to actually become the 'Intelligent Investor' might take years. I have read this book a few times over and each time have taken away things and thoughts that summed up define what is now my investment philosophy. As Buffet said about Value investing, you will either get these concepts the first time you read them, or you will never agree with them.