When I taught the material in the book in seminars, I had quite a lot of very raw beginners come along. They say they have understood the material. If you buy the book and do not understand some points I am happy to try to clarify them for you by email.
Update March 2008
It does depend a bit on how raw a beginner you are. However, there are some good books now for raw beginners which have been produced by the ASX to bring beginners up to speed on the basics. From there, my experience has been that people at all levels have got something (or a great deal) from the book. Some have read it numerous times as their whole education about investing has progressed.