Security Analysis

( 55 )

Overview

First published in 1934, Security Analysis is one of the most influential financial books ever written. Selling more than one million copies through five editions, it has provided generations of investors with the timeless value investing philosophy and techniques of Benjamin Graham and David L. Dodd.

As relevant today as when they first appeared nearly 75 years ago, the teachings of Benjamin Graham, “the father of value investing,” have ...

See more details below
This Hardcover is Not Available through BN.com
Sending request ...

Overview

First published in 1934, Security Analysis is one of the most influential financial books ever written. Selling more than one million copies through five editions, it has provided generations of investors with the timeless value investing philosophy and techniques of Benjamin Graham and David L. Dodd.

As relevant today as when they first appeared nearly 75 years ago, the teachings of Benjamin Graham, “the father of value investing,” have withstood the test of time across a wide diversity of market conditions, countries, and asset classes.

This new sixth edition, based on the classic 1940 version, is enhanced with 200 additional pages of commentary from some of today’s leading Wall Street money managers. These masters of value investing explain why the principles and techniques of Graham and Dodd are still highly relevant even in today’s vastly different markets. The contributor list includes:

  • Seth A. Klarman, president of The Baupost Group, L.L.C. and author of Margin of Safety
  • James Grant, founder of Grant's Interest Rate Observer, general partner of Nippon Partners
  • Jeffrey M. Laderman, twenty-five year veteran of BusinessWeek
  • Roger Lowenstein, author of Buffett: The Making of an American Capitalist and When America Aged and Outside Director, Sequoia Fund
  • Howard S. Marks, CFA, Chairman and Co-Founder, Oaktree Capital Management L.P.
  • J. Ezra Merkin, Managing Partner, Gabriel Capital Group .
  • Bruce Berkowitz, Founder, Fairholme Capital Management.
  • Glenn H. Greenberg, Co-Founder and Managing Director, Chieftain Capital Management
  • Bruce Greenwald, Robert Heilbrunn Professor of Finance and Asset Management, Columbia Business School
  • David Abrams, Managing Member, Abrams Capital

Featuring a foreword by Warren E. Buffett (in which he reveals that he has read the 1940 masterwork “at least four times”), this new edition of Security Analysis will reacquaint you with the foundations of value investing—more relevant than ever in the tumultuous 21st century markets.

Read More Show Less

Editorial Reviews

Financial Times

The biggest event in the world of investment publishing this year looks certain to be the re-publication of a book that came out almost three-quarters of a century ago.

Read More Show Less

Product Details

  • ISBN-13: 9780071603133
  • Publisher: McGraw-Hill Companies, The
  • Publication date: 10/1/2008
  • Edition number: 6
  • Pages: 766

Meet the Author

Benjamin Graham is considered to be the founder of value investing and taught at Columbia University’s Graduate School of Business.

David L. Dodd was a colleague of Graham’s at Columbia University, where he was an assistant professor of finance.

Read More Show Less

Table of Contents

1 Introduction : the array of securities : economic background 1
2 The scope and limitations of security analysis 13
3 The behavior of the security markets 23
4 Investment and speculation 33
5 Investment policy 47
6 Nature and sources of the analyst's information 60
7 Quantitative and qualitative factors in security analysis : the margin-of-safety concept 67
8 Classification of securities 77
9 Analysis of the income account : general procedure 84
10 Effect of reserves upon the income account 99
11 Inventory valuations and inventory reserves : contingency reserves 110
12 The relation of depreciation and similar charges to earning power 127
13 Amortization charges from the investor's viewpoint 144
14 Allowance for results of subsidiaries and affiliates 155
15 Reported earnings and taxable earnings 161
16 Balance-sheet analysis 175
17 Interpretations of the financial data : per-share figures and key ratios 199
18 A comparison based on key ratios : physical data used in analysis 211
19 Analysis of specific industries : railroad analysis 221
20 Factors in public-utility analysis : introduction 241
21 Factors in public-utility analysis : income-statement analysis 257
22 The selection of fixed-income securities 281
23 Specific standards for bond investment 297
24 Specific standards for bond investment (continued) 316
25 Specific standards for bond investment (continued) 326
26 Additional factors in bond analysis 339
27 Preferred stocks 352
28 Technique of selecting preferred stocks for investment 362
29 Income bonds and guaranteed securities 372
30 The theory of common-stock investment : historical survey 385
31 Current modes of common-stock investment 394
32 The pros and cons of the valuation approach : the valuation factors 404
33 Projections of earnings and dividends : significance of the earnings record : the concept of earning power 412
34 The dividend factor in common-stock valuation 430
35 Technical aspects of the dividend rate : stock dividends 439
36 The capitalization rate for earnings and dividends 454
37 Capitalization structure 464
38 The asset-value factor in common-stock valuation 475
39 The valuation of public-utility common stocks 492
40 The valuation of public-utility common stocks (continued) 507
41 Privileged issues 521
42 Technical characteristics of privileged senior securities 530
43 Participating and warrant-bearing issues : privileged issues vs. the related common stocks 541
44 Senior securities of questionable safety 547
45 Leverage 556
46 Low-priced common stocks : option warrants 563
47 General approach to the subject : stockholders and managerial efficiency 575
48 Stockholders, managements, and dividend policy 586
49 Stockholders and their capital 599
50 Stockholder-management controversies 613
51 Regulation by the Securities and Exchange Commission : recapitalizations and reorganizations 621
52 Discrepancies between price and value 636
53 Market analysis and security analysis 650
Read More Show Less

Customer Reviews

Average Rating 3
( 55 )
Rating Distribution

5 Star

(17)

4 Star

(4)

3 Star

(16)

2 Star

(10)

1 Star

(8)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)