Description: [STOCK MARKET, INVESTING, FINANCE]GRAHAM, Benjamin & DODD, David (Authors) "SECURITY ANALYSIS - Principles and Technique" New York. McGraw Hill. 1951. 3rd edition, 3rd impression. Octavo (6.0 in x 9.0 in) Original green publisher's silver lettered cloth. Contents clean. Hinges sound. Overall, about near fine. A nice, collectible example copy of this notable finance classic. The first edition is valued in the $20k + range. This is an affordable option for the collector still socking away their acorns but still would like to collect an original copy of a finance classic. _________________Security Analysis is a book written by Benjamin Graham and David Dodd. Both authors were professors at the Columbia Business School. The book laid the intellectual foundation for value investing. The first edition was published in 1934 at the start of the Great Depression. Graham and Dodd coined the term margin of safety in the book.The work was first published in 1934, following unprecedented losses on Wall Street. In summing up lessons learned, Graham and Dodd scolded Wall Street for its focus on a company's reported earnings per share, and were particularly harsh on the favored "earnings trends." They encouraged investors to take an entirely different approach by gauging the rough value of the operating business that lay behind the security. Graham and Dodd enumerated multiple actual examples of the market's tendency to irrationally under-value certain out-of-favor securities. They saw this tendency as an opportunity for the savvy.In Security Analysis, Graham proposed a clear definition of investment that was distinguished from what he deemed speculation. It read, "An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative." A number of financial terms were coined in the book. For example, Graham and Dodd coined the term margin of safety in Security Analysis. It is not known when the Period of financial distress phrase was first used or by whom. However, it or phrases closely equivalent were almost certainly first used in connection with the theory of value investing as developed initially by Graham in Security Analysis in 1934. Please email any questions -
Price: 159.99 USD
Location: Beverly Hills, California
End Time: 2024-11-29T07:32:03.000Z
Shipping Cost: 6.88 USD
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Item Specifics
All returns accepted: ReturnsNotAccepted
Binding: Cloth
Special Attributes: 3rd edition
Author: Ben Graham
Topic: Finance
Original/Facsimile: Original
