Value investing1934
Security Analysis
Benjamin Graham and David Dodd
A deep foundation for security analysis, asset valuation, bonds, stocks, and the margin-of-safety principle.
Core ideas
Idea 1
Estimate value instead of forecasting short-term price.
Idea 2
Demand a margin of safety.
Idea 3
Prioritize avoiding permanent loss.
Idea 4
Wait for price and quality to align.