Security Analysis : The Classic 1934 Edition, Hardback Book

Security Analysis : The Classic 1934 Edition Hardback

Part of the Professional Finance & Investment series

4.5 out of 5 (1 rating)


'My Advice? Go back to Graham and do your best to take it from there' - "Business Week".

A classic - Those words can be applied without equivocation to the Security Analysis of 1934.

This book secured Benjamin Graham's stature as a Wall Street immortal.

The carefully honed methods for finding undervalued stocks and bonds he described here have never been equalled.

These methods have already outlived their author by more than 20 years.

But what of the original "Security Analysis"?In some ways, it too was immortal.

Through five editions and nearly a million copies, it has been continuously in print for more than 60 years.

With many additions and changes, the modern edition remains the investors' bible.

But this original 1934 First Edition has its own unique charm and style - the special purity, elegance, and character of Graham as a man of letters - that distinguishes it across six decades and shows why this book launched an investing revolution. This authetic copy of the 1934 First Edition of "Security Analysis" gives you word for eloquent word the investing methods put forth by Benjamin Graham and his coauthor and follower, David Dodd, just five years after the infamous Stock Market Crash of '29.

Its message today is just as vivid, just as lucid, and just as vital as it was in 1934.

It's an investment in timeless wisdom and timeless value.


  • Format: Hardback
  • Pages: 725 pages
  • Publisher: McGraw-Hill Education - Europe
  • Publication Date:
  • Category: Investment & securities
  • ISBN: 9780070244962



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A hedge fund manager I know has a great way of describing the difference between growth and value investors: The growth-oriented manager will see a company with a current cash flow level of, say, one dollar and get excited about the possibility it will increase to five dollars in the near future, while the value-oriented manager will get excited if she can buy that dollar now for only fifty cents.The latter description is a perfect example of the way Graham and Dodd espouse looking at the investment world; the difference between purchase price and intrinsic value is the investor’s “margin of safety”. The writing in this volumen is occasionally ponderous and not all parts of it have aged well since its original publication in 1934—see Graham’s "The Intelligent Investor" for a more recent treatment of this area—but the book remains “ground zero” for any serious student of stock and bond valuation. It truly deserves to be called a classic.

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