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In this first episode of 2026, Dave and Andrew revisit The Intelligent Investor by Benjamin Graham and explain why it’s still worth your time—even if some parts feel dated. They break down the timeless principles Buffett has praised for decades, especially the ideas that help you stay rational when the market (and your emotions) get loud.
They also get practical: what “investing vs. speculating” actually means, how to learn a business if you’re serious about picking stocks, and why inflation quietly erodes your buying power.
Key Topics Covered:
- Why The Intelligent Investor still matters (and why Buffett points to Chapters 8 and 20)
- Investing vs. speculating
- How to learn a business (10-Ks + Investor Relations) and why reading matters
- Inflation: how it erodes buying power and affects investors and businesses
- Mr. Market & margin of safety:
Timestamps:
00:33 – Why The Intelligent Investor is still timeless
01:38 – Why it’s a “foundation book” for mindset and emotional control
02:32 – Investing vs. speculating
03:48 – Analysis/business = investing; price movement = speculating
06:21 – How to learn a business
08:12 – Investor Relations pages
08:41 – If you don’t like reading
09:22 – Index funds/ETFs as a legit alternative
11:35 – Inflation basics
14:15 – Risk/return ladder
16:11 – Inflation’s “double-edged sword” for businesses (revenue vs margins)
19:01 – Pricing power example
21:36 – Declines are normal and volatility is part of the game
25:33 – Mr. Market explained
33:34 – Margin of safety
Resources Mentioned:
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!
Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
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