How does The Intelligent Investor advocate for a defensive investment strategy? Analyze the key principles that (in Zweig’s view) make it relevant for investors in today’s dynamic market.

Discuss the significance of the “margin of safety” in Graham’s investment philosophy as presented in The Intelligent Investor. How can investors apply this principle to minimize risks and maximize potential returns?

Graham differentiates between investing and speculating. Elaborate on this distinction and provide real-world examples to illustrate how investors can apply this distinction in their decision-making.