Emphasizes the importance of building a buffer into every investment decision by buying securities significantly below their intrinsic value. This approach protects investors from poor decisions and market downturns while maximizing potential returns through disciplined value assessment.

Explores the critical distinction between investing and speculation, teaching readers how to develop the emotional resilience necessary for long-term success. Graham's framework helps investors avoid common psychological pitfalls and maintain rationality during market volatility.

Demonstrates why focusing on a company's underlying business value rather than short-term market movements leads to better investment outcomes. The approach emphasizes thorough research, financial statement analysis, and understanding the business model behind every investment.