75th Anniversary Edition

The classic work on investing, filled with sound and safe principles that are as reliable as ever, now revised with an introduction and appendix by financial legend Warren Buffett--one of the author's most famous students--and newly updated commentaries on each chapter from distinguished Wall Street Journal writer Jason Zweig.

By far the best book about investing ever written.--Warren Buffett

Since its original publication in 1949, Benjamin Graham's revered classic, The Intelligent Investor, has taught and inspired millions of people worldwide and remains the most respected guide to investing. Graham's timeless philosophy of value investing helps protect investors against common mistakes and teaches them to develop sensible strategies that will serve them throughout their lifetime.

Market developments over the past seven decades have borne out the wisdom of Graham's basic policies, and in today's volatile market, The Intelligent Investor remains essential. It is the most important book you will ever read on making the right decisions to protect your investments and make them grow.

Featuring updated commentaries which accompany every chapter of Graham's book--leaving his original text untouched--from noted financial journalist Jason Zweig, this newly revised edition offers readers an even clearer understanding of Graham's wisdom and how it should be applied by investors today.

By far the best book on investing ever written. --Warren Buffett

The definitive book on value investing, this hardcover edition feature's Benjamin Graham's original wisdom from 1949 and includes a foreword by John C. Bogle, founder of The Vanguard Group

The greatest investment advisor of the twentieth century, Benjamin Graham taught and inspired people worldwide. Graham's philosophy of value investing--which shields investors from substantial error and teaches them to develop long-term strategies--has made The Intelligent Investor the stock market bible ever since its original publication.

Vital and indispensable, The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.

The classic work from the father of value investing―fully updated for today's generation of investors

First published in 1934, Security Analysis is one of the most influential financial books ever written. With more than million copies sold, it has provided generations of investors with the timeless value investing philosophy and techniques of the legendary Benjamin Graham and David L. Dodd.

Security Analysis, Seventh Edition features the ideas and methods of today's masters of value investing, who discuss the influence of Graham and Dodd on today's markets and contextualize the philosophy that has influenced so many famous investors.

The successful value investor must constantly be in the process of reinvention, of raising his or her game to navigate the terrain of new eras, novel securities, nascent businesses, emerging industries, shifting standards, and evolving market conditions. With the diverse perspectives of experienced contributors, this new edition of Security Analysis is a rich and varied tapestry of highly informed investment thinking that will be a worthy and long-lived successor to the preceding editions.

A lo largo de los a os, la evoluci n del mercado ha comprobado lo sabias que han sido las estrategias ense adas por Graham. A la vez que conserva la integridad del texto original, esta edici n revisada incluye comentarios actualizados del famoso periodista financiero Jason Zweig, cuya perspectiva incorpora las realidades del mercado presente, traza paralelismos entre los ejemplos de Graham y los titulares financieros actuales, y brinda a los lectores una comprensi n m s plena de c mo hacer para aplicar dichos principios.

Fundamental e indispensable, El inversor inteligente es el libro m s importante que usted leer jam s sobre c mo alcanzar sus objetivos en lo financiero.

Graham's ideas inspired the investment community for nearly a century.--Smart Money

Graham's method of investing is as relevant today as it was when he first espoused it during the Roaring Twenties.--Investor's Business Daily

Benjamin Graham's revolutionary theories have influenced and inspired investors for nearly 70 years. First published in 1934, his Security Analysis is still considered to be the value investing bible for investors of every ilk. Yet, it is the second edition of that book, published in 1940 and long since out of print, that many experts--including Graham protégé Warren Buffet--consider to be the definitive edition. This facsimile reproduction of that seminal work makes available to investors, once again, the original thinking of this century's (and perhaps history's) most important thinker on applied portfolio investment.

All investors, from beginners to old hands, should gain from the use of this guide, as I have.
From the Introduction by Michael F. Price, president, Franklin Mutual Advisors, Inc.

Benjamin Graham has been called the most important investment thinker of the twentieth century. As a master investor, pioneering stock analyst, and mentor to investment superstars, he has no peer.

The volume you hold in your hands is Graham's timeless guide to interpreting and understanding financial statements. It has long been out of print, but now joins Graham's other masterpieces, The Intelligent Investor and Security Analysis, as the three priceless keys to understanding Graham and value investing.

The advice he offers in this book is as useful and prescient today as it was sixty years ago. As he writes in the preface, if you have precise information as to a company's present financial position and its past earnings record, you are better equipped to gauge its future possibilities. And this is the essential function and value of security analysis.

Written just three years after his landmark Security Analysis, The Interpretation of Financial Statements gets to the heart of the master's ideas on value investing in astonishingly few pages. Readers will learn to analyze a company's balance sheets and income statements and arrive at a true understanding of its financial position and earnings record. Graham provides simple tests any reader can apply to determine the financial health and well-being of any company.

This volume is an exact text replica of the first edition of The Interpretation of Financial Statements, published by Harper & Brothers in 1937. Graham's original language has been restored, and readers can be assured that every idea and technique presented here appears exactly as Graham intended.

Highly practical and accessible, it is an essential guide for all business people--and makes the perfect companion volume to Graham's investment masterpiece The Intelligent Investor.

Rare is the opportunity to see, much less own, an original. But this unusual, carefully crafted reproduction of Benjamin Graham and David Dodd's immortal Security Analysis gives you that chance--to read and treasure a true classic--the book that gave birth to value investing.

Continuously in print through five editions, for more than 60 years, and through nearly a million copies, the primer for many of America's most illustrious investors--and the wellspring of Graham and Dodd's Wall Street Immortality--Security Analysis is indisputably the most influential book on investing ever written. Still the investors' bible, it's as frequently consulted today as it was when it first appeared in 1934.

Of course, over the years and over five editions, Security Analysis changed. Its language was modernized. New material was added. Metaphors and examples were brought up to date. In the light of changing times, these alterations were necessary and appropriate.

But what of the original book? The very durability of this work arouses our curiosity. And what we discover when we return to the original is very simply a classic, a work whose uncompromising worth has not paled since it first saw the light of day in 1934.

The original words of Benjamin Graham and David Dodd--put to paper not long after the disastrous Stock Market Crash of 1929--still have the mesmerizing qualities of rigorous honesty and diligent scrutiny, the same riveting power of disciplined thought and determined logic that gave the work its first distinction and began its illustrious career.

The words you will read here are eloquent. Not only a financial genius and a man of high repute for honorable dealings, Graham was a man of letters invited to teach in the literature department at Columbia University (as well as in the economics and philosophy departments).

But this reproduction is far more than a historical curiosity, an interesting object, and a delightful read. It presents the original Graham/Dodd method of investing--told in their own words as they first described it in the 1930s.

What exactly is this method that has drawn such longterm devotion in the notably fickle reaches of Wall Street?

Graham and Dodd were Wall Street's first bargain shoppers. In this book they first explain their methods for locating bonds and stocks which are selling well below the levels apparently justified by a careful analysis of the relevant facts. In this book, they tell you precisely how to find these undervalued securities and analyze those relevant facts.

Are these methods still practical and usable today? The great fortunes created by value investors Warren Buffett, Mario Gabelli, John Neff, Michael Price, and John Bogle testify that they certainly are.

In their preface to this book, Graham and Dodd write that they hope their work will stand the test of the ever enigmatic future. There is no doubt that it has.

This distinctively wrought book is a careful reproduction of the 1934 edition, containing every word of the original.

75th Anniversary Edition

The classic work on investing, filled with sound and safe principles that are as reliable as ever, now revised with an introduction and appendix by financial legend Warren Buffett--one of the author's most famous students--and newly updated commentaries on each chapter from distinguished Wall Street Journal writer Jason Zweig.

By far the best book about investing ever written.--Warren Buffett

Since its original publication in 1949, Benjamin Graham's revered classic, The Intelligent Investor, has taught and inspired millions of people worldwide and remains the most respected guide to investing. Graham's timeless philosophy of value investing helps protect investors against common mistakes and teaches them to develop sensible strategies that will serve them throughout their lifetime.

Market developments over the past seven decades have borne out the wisdom of Graham's basic policies, and in today's volatile market, The Intelligent Investor remains essential. It is the most important book you will ever read on making the right decisions to protect your investments and make them grow.

Featuring updated commentaries which accompany every chapter of Graham's book--leaving his original text untouched--from noted financial journalist Jason Zweig, this newly revised edition offers readers an even clearer understanding of Graham's wisdom and how it should be applied by investors today.

Supplemental enhancement PDF accompanies the audiobook.

A brief overview of money's historical relationship to the commodities of gold and silver, including the author's prophetic view of a new stage in monetary technique wherein monetary status and pure commodity value may be reciprocally beneficial and ultimately advantageous to the economy at large.

2010 Reprint of 1944 First Edition. In World Commodities and World Currency, Graham offers a global analysis of the systems that could reduce dangerous cycles of price instability in order to achieve stability in a postwar economy. Graham, in an astonishing display of foresight, shows how commodity reserves should play an important part in any economic policy. Throughout the book, Graham maintains that stabilization of commodities offers a comparatively simple technique by which the world could achieve the fourfold objective of foreign-exchange stability, reasonable price stability, protective stockpiles, and -- most importantly -- a balanced expansion of the world's output and consumption of useful goods. Readers today will discover that this landmark book has timely interest. In the aftermath of the Asian currencies collapse, and in the face of the organization of the European Common Union and the merging of European banks into a European Central Bank with one common currency, Graham's warnings about the dangers of a floating currency and his trenchant corrective prescriptions bear even greater relevance than ever.

2010 Reprint of 1947 Edition. Two volumes in one.Benjamin Graham (1894 - 1976) was an American economist and professional investor. Graham is considered the first proponent of Value investing, an investment approach he began teaching at Columbia Business School in 1928 and subsequently refined with David Dodd through various editions of their famous book Security Analysis. Graham intended the lectures transcribed in Current Issues in Security Analysis as a way to update the 1940 revision of his classic work, Security Analysis. These lectures are from the series entitled Current Problems in Security Analysis that Mr. Graham presented at the New York Institute of Finance from September 1946 to February 1947. Published using a typewriter, these are the transcripts of ten lectures given by Graham. They communicate Graham's understanding of the main issues and perils of investing. The format is the teacher/student interaction, with Graham providing a formal lecture and later answering questions.

World Commodities and World Currency is a book written by the renowned investor and economist Benjamin Graham. The book provides an in-depth analysis of the relationship between world commodities and world currency. Graham explores the impact of global trade, inflation, and currency fluctuations on commodity prices and the economy as a whole.The book is divided into two main sections. The first section focuses on the historical relationship between commodities and currencies, including the gold standard and the Bretton Woods system. Graham also examines the role of central banks in managing currency fluctuations and the impact of currency devaluations on commodity prices.The second section of the book delves into the practical implications of the relationship between commodities and currencies for investors. Graham provides insights into how investors can use this knowledge to make informed investment decisions in commodities, currencies, and related securities.Overall, World Commodities and World Currency is a comprehensive guide to understanding the complex relationship between commodities and currencies. It is a must-read for investors, economists, and anyone interested in the global economy.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.

Storage and Stability, Benjamin Graham's 1937 study on supply and demand, production and consumption, and their impact on value investing, offers readers a rare and rewarding glimpse into the social theories and investment strategies of one of America's foremost financial geniuses. The first authentic reissue of this historic masterpiece, Storage and Stability ushers in the new Benjamin Graham Classics series, and is sure to earn a coveted place on any investor's bookshelf.

This reissued investment classic by financial guru Benjamin Graham expounds on the theories presented in the author's previous masterpiece, Storage and Stability, offering a more global focus on the subject of stockpiling raw materials as a means of achieving expansion and stability in a postwar economy. Graham maintains that stabilization of commodities offers a comparatively simple technique by which the world could achieve the fourfold objective of foreign-exchange stability, reasonable price stability, protective stockpiles, and--most importantly--a balanced expansion of the world's output and consumption of useful goods.

They laid out a road map forinvesting that I have now beenfollowing for 57 years. There's beenno reason to look for another.
--Warren Buffett, on thewritings of Benjamin Graham

Legendary investing author and philosopherBenjamin Graham lived throughinteresting times. Soon after his graduationfrom Columbia College, the nation enteredthe First World War. As the stock market fluctuatedin wild dips and peaks, the governmentseized control of the railroad industry, inflationand interest rates rose dramatically, andeconomic depression loomed on the horizon.

During these events--and perhaps inspiredby them--Graham began writing articles forThe Magazine of Wall Street, putting to paperhis earliest ideas on value investing and securityanalysis.

For the first time, these important workshave been anthologized into a single volume.Benjamin Graham on Investing is a treasure troveof rare and out-of-print articles that documentthe early flashes of genius from a manwhose ideas and theories would revolutionizeinvestment philosophy and inspire the careersof such luminaries as Warren Buffett, SethKlarman, Charlie Munger, and countless othertop-tier investors.

The early works of Benjamin Graham havenever been as relevant as they are today.The world's markets are undergoing changeon a scale not unlike that of Graham's era.David Darst, one of the world's most respectedexperts on asset allocation, provides insightfulanalyses connecting Graham's articles toevents today.

, i>Benjamin Graham on Investing is a timelessclassic that continues to have relevance morethan 30 years after the author's death.

In The Intelligent Forex Investor: World Currency and World Commodities, Graham offers a more global analysis of the systems that could reduce dangerous cycles of price instability in order to achieve stability in a postwar economy. Graham, in an astonishing display of foresight, shows how commodity reserves should play an important part in any economic policy.Throughout the book, Graham maintains that stabilization of commodities offers a comparatively simple technique by which the world could achieve the fourfold objective of foreign-exchange stability, reasonable price stability, protective stockpiles, and - most importantly - a balanced expansion of the world's output and consumption of useful goods.