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.
Quotes
Practical lesson: estimate value instead of forecasting short-term price.
Practical lesson: demand a margin of safety.
Practical lesson: prioritize avoiding permanent loss.
Practical lesson: wait for price and quality to align.
These are practical paraphrases, not verbatim quotations.