Security Analysis
by Benjamin Graham and David Dodd
The 1934 foundation of value investing: seven hundred pages on bonds, preferred stock, common stock valuation, balance sheet analysis and the margin of safety. It is a textbook and reads like one; The Intelligent Investor is the readable summary. Serious investors still work through it.
Read it if…
you are serious about valuation and willing to do the reading.
See the book →
Skip it if…
you want an introduction; see The Intelligent Investor.
Try instead: The Clash of the Cultures →
Three things you will actually use
- Investment is analysis, safety of principal and adequate return; everything else is speculation.
- Margin of safety is the central concept.
- The market is a voting machine short term, a weighing machine long term.
Do this first
Read the introduction and Part I, then decide.
Our verdict
The foundation, as a textbook.
See the book →
Compare with other Money books
Reminiscences of a Stock Operator
Edwin Lefèvre · Money
Every mistake, made first by a genius.
CLICK TO SEE
Browse all Money book reviews or get the free Reality Code Cheat Sheet.
As an Amazon Associate, WisdomDeck earns from qualifying purchases. Links marked “Click to see” go to Amazon. We are not paid for opinions, prices and availability are not shown here and change on Amazon, and we never see your purchase details. Nothing here is medical, legal or financial advice.