In 'Security Analysis,' Benjamin Graham and David Dodd unveil the timeless principles of value investing that have guided astute investors for decades. This sixth edition, with a foreword by Warren Buffett, emphasizes the importance of thorough financial analysis and prudent decision-making. Readers will discover powerful techniques to evaluate stocks and bonds through a deep understanding of intrinsic value and market psychology. Graham and Dodd's insights challenge conventional wisdom, encouraging a disciplined approach to investing. Whether you're a novice or a seasoned investor, this seminal work promises to revolutionize your financial strategy.
By Benjamin Graham, David Dodd
Published: 2008
"'Investing isn't about beating others at their game. It's about controlling yourself at your own game.'"
"A road map for investing that I have now been following for 57 years." --From the Foreword by Warren E. Buffett 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.
Showing 8 of 26 similar books
Bill Ackman is an American hedge fund manager and founder of Pershing Square Capital Management, known for his activist investing style. Ackman has been involved in high-profile investment battles, including his campaigns against companies like Herbalife and his successful turnaround of companies like Canadian Pacific Railway. He is known for taking bold, contrarian positions and for his ability to influence corporate governance through shareholder activism. Ackman’s investing philosophy focuses on long-term value creation, and he has become one of the most recognized figures in the finance world.
David Heinemeier Hansson, also known as DHH, is a Danish programmer, entrepreneur, and author, best known as the creator of Ruby on Rails, a popular web application framework. Heinemeier Hansson is also a partner at Basecamp, a project management and collaboration software company he co-founded. His contributions to software development have earned him widespread recognition, with Ruby on Rails being used by thousands of developers and companies worldwide. Heinemeier Hansson is also a vocal advocate for remote work, simplicity in business, and sustainable work practices, ideas he explores in his bestselling books Rework and It Doesn’t Have to Be Crazy at Work. In addition to his work in tech, he is an accomplished race car driver, having competed in the 24 Hours of Le Mans. Heinemeier Hansson’s approach to work-life balance and entrepreneurship has made him a thought leader in the tech community, where he continues to challenge traditional business practices and advocate for more human-centered approaches to work
Charlie Munger is an American investor, businessman, and philanthropist, best known as the vice chairman of Berkshire Hathaway, where he partners with Warren Buffett. Renowned for his insights on investment strategies and mental models, Munger has significantly influenced the world of finance. His notable literary contributions include "Poor Charlie's Almanack," a compilation of his speeches and writings that distill his wisdom on decision-making and business principles. Munger's work emphasizes the importance of multidisciplinary thinking and continuous learning. Beyond his financial acumen, he is celebrated for his charitable efforts, particularly in education and healthcare.
Howard Marks was a renowned Welsh author and drug smuggler, best known for his bestselling autobiography, "Mr Nice," published in 1996. The book chronicles his complex life, from Oxford University graduate to one of the world's most infamous cannabis traffickers. Marks' candid storytelling and unique perspective earned him a cult following and critical acclaim, transforming him into a counterculture icon. He further contributed to literature with several other works, including "Señor Nice" and "Sympathy for the Devil." Marks' legacy continues to influence discussions on drug policy and the criminal justice system.
Anu Hariharan is a distinguished partner at Y Combinator's Continuity Fund, where she has been instrumental in scaling numerous startups into successful enterprises. With a strong background in economics and technology, she has become a respected voice in the venture capital community. Hariharan has also made significant contributions through her writing on startup growth and investment strategies, offering insightful analyses and practical advice to entrepreneurs. Her work is frequently featured in leading business publications, showcasing her expertise in the tech industry. Beyond her professional accomplishments, Hariharan is committed to fostering diversity and inclusion within the startup ecosystem.
Kevin Rose is a notable entrepreneur and technology investor, best known for founding Digg, a pioneering social news website that significantly influenced online content sharing. Although not primarily recognized for literary contributions, Rose has impacted digital media and online culture, which are recurring themes in contemporary literature on technology. His insights and experiences have been featured in various tech journals and books, enriching discussions on innovation and digital entrepreneurship. Rose also co-hosted the popular podcast "The Random Show" with Tim Ferriss, where he shares his thoughts on technology, health, and productivity. Through his ventures and public speaking, Rose continues to inspire narratives around the digital revolution and startup culture.
Jamie Dimon is an American business executive, best known as the Chairman and CEO of JPMorgan Chase, one of the largest and most influential financial institutions in the world. Dimon has led JPMorgan through multiple economic crises, including the 2008 financial crash, and has consistently been recognized for his leadership in the banking industry. Under his tenure, JPMorgan has grown into a global financial powerhouse, focusing on innovation and sustainability. Dimon is also an advocate for corporate responsibility and frequently speaks on economic and regulatory issues. His leadership style and strategic insights have earned him widespread respect in the business world.
Andrew Wilkinson is a distinguished author and entrepreneur, best known for his insightful business writings and contributions to the tech industry. He co-founded MetaLab, a prominent design agency that has shaped the user experience of major platforms like Slack and Coinbase. Wilkinson's entrepreneurial journey and his publications provide valuable perspectives on startup culture, innovation, and leadership. His writing, often featured in leading business magazines and his personal blog, has garnered a wide readership for its practical advice and engaging storytelling. Andrew continues to influence both literature and the business world with his unique blend of creativity and strategic thinking.
Showing 8 of 12 related collections
“'Investing isn't about beating others at their game. It's about controlling yourself at your own game.'”
Security Analysis
By Benjamin Graham, David Dodd
Discover a world of knowledge through our extensive collection of book summaries.
Benjamin Graham (1894-1976) was an influential American economist and investor, widely regarded as the father of value investing. His seminal works, including "The Intelligent Investor" and "Security Analysis," laid the foundation for modern investment strategies by emphasizing the importance of fundamental analysis and a disciplined approach to investing. Graham advocated for a margin of safety in financial decisions, encouraging investors to prioritize long-term value over market speculation. As a professor at Columbia Business School, he mentored several prominent investors, including Warren Buffett, who cites Graham's philosophies as a major influence on his own investment approach. Graham's legacy continues to shape investment practices and is celebrated for his pioneering contributions to the field of finance.
David Dodd is an acclaimed author known for his incisive storytelling and rich character development. Among his notable works are 'The Fading Light', a haunting exploration of memory and loss, and 'Through the Shadows', a gripping thriller that delves into the human psyche. Dodd's writing is characterized by its lyrical prose and profound emotional depth, often blending elements of suspense with philosophical undertones. He has received several awards for his contributions to contemporary literature and continues to be a prominent voice in the literary community.
Key information about the book.
Buy on Amazon
Buy via BookShopSupport local bookstores: BookShop gives a portion of each sale to independent bookshops!
In "Captive Prince," the captivating tale of power and betrayal unfolds as Laurent, the cunning prince of Vereck, must navigate the treacherous politics of his enemy's court. When Damen, the exiled warrior prince of Akielos, becomes a slave to Laurent, forced into a world of subterfuge and intrigue, unexpected alliances begin to form. As the two grapple with their conflicting loyalties and simmering desires, they are drawn into a dangerous game that could alter the fate of their kingdoms. The tension escalates with each page, revealing secrets that could shatter their lives and reshape their loyalties. Will love conquer all, or will the weight of a fractured legacy seal their doom?
In "A Court of Thorns and Roses," Feyre Archeron, a skilled huntress, is thrust into a deadly faerie world after killing a wolf in the woods. Captured by Tamlin, a powerful High Fae lord, she discovers an enchanting realm steeped in danger and magic. As Feyre grapples with her feelings for Tamlin, a dark curse looms, threatening his home and all he loves. Chilling choices lead her into a treacherous game where betrayal and sacrifice become part of the dance. Will she embrace her fate and uncover her true strength before it’s too late?
For use in schools and libraries only. Gen is plucked from the king's prison by the king's magus who wants his assistance in stealing an ancient treasure.
In "The Intelligent Investor," Benjamin Graham unveils timeless strategies for navigating the volatile world of investing with wisdom and discipline. He introduces the concept of value investing, teaching readers to distinguish between price and intrinsic value, all while emphasizing the importance of a defensive investment strategy. Graham’s insightful principles empower investors to cultivate emotional resilience, protecting them from the relentless whims of the market. With real-world anecdotes and practical advice, this classic remains a cornerstone for anyone seeking financial success and peace of mind. Dive in to discover how patience, rationality, and a solid plan can transform your investment journey!
In "Women & Money," Suze Orman empowers women to take control of their financial destinies with insightful advice and practical strategies. Through personal anecdotes and expert tips, she dismantles the societal myths that often hinder women's financial confidence. Orman explores the emotional connections to money, urging readers to embrace their worth and create a secure future. With a blend of tough love and encouragement, she offers a roadmap to financial independence that resonates deeply. Discover how understanding your relationship with money can transform not just your finances, but your entire life.
In "The Real Book of Real Estate," author Robert Kiyosaki unearths the hidden gems of wealth-building through property investment. With candid insights drawn from his own experiences, he dismantles common myths and reveals the strategies that can lead to financial freedom. This book isn’t just about numbers; it’s a masterclass in mindset, emphasizing the importance of surrounding yourself with the right team and resources. Kiyosaki’s engaging anecdotes and practical tips will inspire both novices and seasoned investors to reassess their approach to real estate. Prepare to unlock the secrets that could transform your financial future and discover the potential of becoming a savvy property mogul!
In "Nudge," behavioral economists Richard Thaler and Cass Sunstein unveil the subtle art of influencing choices and shaping outcomes without restricting freedom. They explore how small, seemingly insignificant changes in the way options are presented can lead to drastically improved decisions in health, finance, and overall happiness. With compelling real-world examples and engaging insights, the authors demonstrate how understanding human psychology can empower individuals and policymakers alike. Dive into a world where choice architecture transforms lives and reshapes society's approach to welfare. Discover the hidden nudges that could change everything about the way we choose!
"In the dark, bewildering, trap-infested jungle of misinformation and opaque riddles that is the world of investment, JL Collins is the fatherly wizard on the side of the path, offering a simple map, warm words of encouragement and the tools to forge your way through with confidence. You'll never find a wiser advisor with a bigger heart." -- Malachi Rempen: Filmmaker, cartoonist, author and self-described ruffian This book grew out of a series of letters to my daughter concerning various things-mostly about money and investing-she was not yet quite ready to hear. Since money is the single most powerful tool we have for navigating this complex world we've created, understanding it is critical. "But Dad," she once said, "I know money is important. I just don't want to spend my life thinking about it." This was eye-opening. I love this stuff. But most people have better things to do with their precious time. Bridges to build, diseases to cure, treaties to negotiate, mountains to climb, technologies to create, children to teach, businesses to run. Unfortunately, benign neglect of things financial leaves you open to the charlatans of the financial world. The people who make investing endlessly complex, because if it can be made complex it becomes more profitable for them, more expensive for us, and we are forced into their waiting arms. Here's an important truth: Complex investments exist only to profit those who create and sell them. Not only are they more costly to the investor, they are less effective. The simple approach I created for her and present now to you, is not only easy to understand and implement, it is more powerful than any other. Together we'll explore: Debt: Why you must avoid it and what to do if you have it. The importance of having F-you Money. How to think about money, and the unique way understanding this is key to building your wealth. Where traditional investing advice goes wrong and what actually works. What the stock market really is and how it really works. Why the stock market always goes up and why most people still lose money investing in it. How to invest in a raging bull, or bear, market. Specific investments to implement these strategies. The Wealth Building and Wealth Preservation phases of your investing life and why they are not always tied to your age. How your asset allocation is tied to those phases and how to choose it. How to simplify the sometimes confusing world of 401(k), 403(b), TSP, IRA and Roth accounts. TRFs (Target Retirement Funds), HSAs (Health Savings Accounts) and RMDs (Required Minimum Distributions). What investment firm to use and why the one I recommend is so far superior to the competition. Why you should be very cautious when engaging an investment advisor and whether you need to at all. Why and how you can be conned, and how to avoid becoming prey. Why I don't recommend dollar cost averaging. What financial independence looks like and how to have your money support you. What the 4% rule is and how to use it to safely spend your wealth. The truth behind Social Security. A Case Study on how this all can be implemented in real life. Enjoy the read, and the journey!
Download our mobile app to enjoy your favorite books on the go. Get access to exclusive features, offline listening, and personalized recommendations.
