Security Analysis: Sixth Edition, Foreword by Warren Buffett (Limited Leatherbound Edition) (Security Analysis Prior Editions) Review
If you're an investor and haven't read security analysis, you really should. First, it is chalk full of very helpful information that is the only resource you need to understand investments. Sometimes it is dated but even then the history lesson is important. For instance, you will definitely be prepared for the next "idiot bubble" in the parlance of Charlie Munger because the book examines overvalued stocks and bonds with real examples. You definitely would never fall into the "real estate values have never declined" fallacy if you had the rudimentary understanding of history this book provides. So, all and all this book is a must read for serious investors.
So the material for this book is obviously five star... but I'm quite upset with the missing chapters and appendix. I don't think we need the additional commentary from respected value investors if chapters are missing. I had to read the missing chapters in .pdf on my Kindle DX which is sort of annoying. It would be forgivable if all the chapters we completely out of date but only the one on options was totally obsolete. So, the lack of a complete book was irritating.
I bought the book on the Kindle and in hardback. Get the hardback if you can afford it. It just looks better with all the tables.
Security Analysis: Sixth Edition, Foreword by Warren Buffett (Limited Leatherbound Edition) (Security Analysis Prior Editions) Overview
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.
(20080617)
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