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.
I haven't even started reading but this book seems like a cheap photo copy edition. The first page should have been the last page. I am pretty sure its the part of index. Read morePublished 6 months ago by Aalap
I used an earlier version of this book in my MBA program in 1960. It and the class that it was used with were the absolute best thing about the Berkeley California program. Read morePublished 6 months ago by Alfred J. Trimble
Book is in great condition. I am really enjoying reading it. It was a great deal overall and a great experiencePublished 9 months ago by Alex Fabry
I swear by this and the Intelligent Investor, if you're not sure if investing is for you go ahead and read chapters 8 and 20 of the Intelligent Investor by Benjamin Graham and then... Read morePublished 10 months ago by Oliver
Cover is in good shape. All pages are good except for the occasional writing from previous owner. not too much writing though.Published 11 months ago by flipsk8er4ever
it is an excellent book. it is very clear describe how to analyze the company for different types of investors. Highly recommend.Published 14 months ago by tong
Very TECHNICAL detailed. Not for the beginner. This is more like the 70's manual for the broker exam. Almost like reading code.Published 17 months ago by angela k obrien
This book is the starting point for the value investing school, still maintains its relevancy, and is a must read for anyone desiring a comprehensive introduction to conservative,... Read morePublished 17 months ago by scgrant
I happen to have read every edition of Security Analysis ever published. I can say without equivocation that the 4th edition is by far the best.Published 17 months ago by Forrest