Security Analysis Principles and Technique

Graham, Benjamin, Dodd, David L.; Cottle, Sidney; Tatham, Charles

ISBN 10: 0070239576 / ISBN 13: 9780070239579

Published by McGraw-Hill Companies, The, Blacklick, Ohio, U.S.A., 1962

About this Item

8vo - over 7¾" - 9¾" tall. In black and tan boards, 8vo, 778pp Generally considered to be the BEST EDITION of the classic analytical tool of value investing, often referred to as "Warren Buffet's Bible".

Seller Inventory # 0855645

Bibliographic Details

• Title: Security Analysis Principles and Technique
• Publisher: McGraw-Hill Companies, The, Blacklick, Ohio, U.S.A.
• Publication Date: 1962
• Language: English
• ISBN 10: 0070239576
• ISBN 13: 9780070239579
• Binding: Hard Cover
• Edition: Fourth Edition.
• Condition: Very Good
• Dust Jacket Condition: No Dust Jacket

About this title

Synopsis

The material in this fourth edition of 1962 has been revised and includes important changes and expansion. The three previous editions were published in 1934, 1940, and 1951.

From the Author

Security Analysis is the bible of fundamental analysis. Originally published in 1934, the tome systematically lays bare the science of security analysis. Written with the assistance of cowriter David Dodd, Benjamin Graham's intellectual tour de force has yet to be equaled in the annals of investing. Written only a few years after the devastating stock market crash of 1929, Graham had one objective--to make the investment process as safe as possible using knowledge of key factors about the business.

Beginning with bonds and moving quickly to stocks, Graham and Dodd go over all of the angles. Articulating a comprehensive theory of fixed-value and common stock investment, they examine in detail the various factors that one should consider when valuing securities. Dividends, extraordinary items, depreciation, amortization, capital structure and balance sheet analysis are all described and defined in lurid detail. It is impossible to read Security Analysis and not come away with a deeper understanding of corporate finance and how it relates to investing.

On the downside, let's be frank--Security Analysis is not an easy book to read. However, it remains one of the key textbooks for communicating fundamental analysis to millions of MBAs, in spite of the fact that it first saw print 63 years ago. I personally believe that reading and understanding most of Security Analysis would make a great benchmark for determining whether or not you are ready to start investing your money in specific investments. Sure, Graham is very value-biased in his investment philosophy, but looking for growth without focusing on the price you are paying is the golden road to underperformance.