Customer Reviews: Read 39 more reviews...
 Excellent reference book for every investor November 3, 2007
Queen_Anne_Drizzle (Seattle, WA)
1 out of 1 found this review helpful
After reading "Intelligent Investor", I wanted to get into the more technical stuff so I got this book. There is excellent stuff in this book but for an individual investor managing her own money some of the recommended research is not practical. The book is more appropraite for someone who works in the industry such as a mutual fund manager. For example as an individual investor it is just not possible for you to obtain all the necessary information on competitors, industry, suppliers, etc... on every company whose stock you own. The book is very thorough and certainly an excellent reference. In order to follow the authors' recommendation you will have to quit your day job however. Great text book for a business school class.
 The 1934 edition is the last edition you should buy. April 7, 2007
JP
20 out of 20 found this review helpful
My star rating is for the 1934 edition, but this review may appear for other editions of the book.
The 1934 edition came out before the creation of the SEC and deals with a lot of accounting irregularities that are not such a problem today. I suggest you buy a newer edition.
Some people seem to have a preference for the 1940 edition. The 1951 edition was the first one written after the Great Depression, so it dealt with businesses in a more normal economic environment. The 1962 edition was the last written directly by Graham and Dodd, but it is currently unavailable. The 1988 edition is the most recent edition of Security Analysis, but it was updated by other authors years after Graham had died. The 1988 edition is the one currently used as a textbook for Columbia University's Security Analysis course.
 Best Book on Stocks January 16, 2007
D. E. Sharek
2 out of 5 found this review helpful
The best book for stock analysis. The thing that impresses me the most is that it takes investors emotions into account--the main reason people don't make money in stocks.
Best investing book I've ever read January 17, 2006
Bob (USA)
7 out of 7 found this review helpful
Yes, this is the best investing book I've ever read, but I never read the 2nd or 3rd editions so maybe they are better? I do know that the 5th edition is absolutely horrible, it wasn't written by Graham and has nothing to do with this book, and you won't learn anything about investing from reading it.
You do need a strong background in accounting to understand this book. There are some archaic accounting terms used in the book that no longer apply today. A law school course in Corporations Law is helful here too.
Nevertheless, every more modern book on "value investing" never really explained it as well as this book written in 1934.
Yes, the book is long, but who said investing should be easy? If you want easy money, go to Vegas. I made hundreds of thousands of dollars in the stock market after I read this book. This book is more valuable than a college education and a lot cheaper.
A MUST read August 10, 2005
Sven Klein (Santa Barbara, CA)
0 out of 3 found this review helpful
Security Analysis is the most important book ever written about the subject. (...)
Sven Klein, Santa Barbara, CA
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