{short description of image}  


Benjamin Graham


Subtitle: The Definitive Book on Value Investing, Harper, N.Y., revised edition, 2003, 623 pgs., index, end notes, appendices, paperback


Reviewer comments: This new edition has extensive, valuable commentary by Jason Zweig which adds much information relatiive to the significant changes in markets since the date of the original publication in 1973. The commentary follows each chapter. The author was Buffett's teacher at Columbia and his mentor in developing Buffett's remarkable investment success. It is unversially recommended as the basic text that all investors should study. But this excellent commentary also is now somewhat dated, since so much has happened in the whole financial industry since 2003 and especially since the financial diaster of 2008.


Two books are insider commentary on these changes Henry Kaufman - Techtonic Shifts in Financial Markets and John Kay - Other People's Money and George Selgin - Floored!, How a Misguded Fed Experiment Deepend and Prolonged the Great Recession


Preface to Fourth Edition by Warren Buffett


Note About Benjamin Graham by Jason Zweig


Introduction: What This Book Expects to accomplish


Commentry of the Introduction


Chapter 1 - Investment versus Speculation: Results to Be Expected by the Intelligent Investor


Chapter 2 - The Investor and Inflation


Chapter 3 - A Century of Stock-Market History


Chapter 4 - General Portfolio Policy - The Defensive Investor


Chapter 5 - The Defensive Investor and Common Stocks


Chapter 6 - Portfolio Policy for the Enterprising Investor: Negative Approach


Chapter 7 - Portfolio Policy for the Enterprising Investor: The Positive Side


Chapter 8 - The Investor and Market Fluctuations


Chapter 9 - Investing in investment Funds


Chapter 10 - The Investor and His Advisers


Chapter 11- Security Analysis for the Lay Investor


Chapter 12 - Things to Consider About Per-Share Earnings


Chapter 13 - A Comparison of Four Listed Companies


Chapter 14 -Stock Selection for the Defensive Investor


Chapter 15 -Stock Selection for the Enterprising Investor


Chapter 16 -Convertible Issues and Warrants


Chapter 17 - Four Extremely Instructive Case Histories


Chapter 18 - A Comparison of Eight Pairs of Companies


Chapter 19 - Sharholders and Managements: Dividend Policy


Chapter 20 -"Margin of Safety" as the Central Concept






Return to Xenophon.