Security Analysis
Principles and Technique
The foundational text that built modern value investing.
First published in 1934 in the wake of the Great Depression, Security Analysis is the rigorous, technical foundation of value investing. Graham and Dodd lay out a systematic framework for analyzing stocks and bonds based on intrinsic value, financial statements, and a margin of safety rather than market sentiment.
While dense, this is the bedrock of how serious investors evaluate a business on fundamentals. Founders who want to understand how sophisticated investors scrutinize financials and value an enterprise will find the source material here.
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