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.
Who should read it
Beginners building a systematic foundation.
Experienced investors reviewing their process.
Readers willing to write and apply, not only seek inspiration.
Do not copy the advice mechanically when your products, legal setting, or time horizon differs from the book's context.