Value Investor Insight - Channeling Graham and Dodd: A Conversation with Seth Klarman
October 29, 2008
From Value Investor Insight & SeekingAlpha.com
Early in the process of defining how to update Graham and Dodd’s Security Analysis, the acknowledged “bible of value investing,” lead editor Seth Klarman and his assembled team abandoned any notion of editing the text of 1940’s second edition. “It would have taken a decade to rewrite, with absolutely no assurance we could have improved upon it anyway,” he says.
In the September 30 edition of Value Investor Insight, Klarman described this process. Key excerpts follow:
“The Value Investor’s Bible” - Jim Grant in the WSJ
October 19, 2008
THE WALL STREET JOURNAL, OCTOBER 18, 2008
The Confidence Game
There used to be too much of it. Now there’s not enough. James Grant argues that the real lack of confidence is in Washington, with the administration losing faith in capitalism.
by James Grant
“In investment markets, confidence and coherence tend to restore themselves. The hardy souls who lead the way back derive their confidence not from the Treasury Secretary but from the pages of “Security Analysis,” by Benjamin Graham and David L. Dodd, the value investor’s bible.”
Click here to read the article.
“The Investor’s Bible” - the Calgary Herald
October 15, 2008
Investors’ bible shows righteous the way
By Charles Frank, Calgary Herald
“Like a lot of shell-shocked Canadians, I’ve spent the last few days reading the bible, trying to make sense of what has been happening on North American and world stock markets and looking for guidance about what to do when the dust finally clears on this, The Mother of All Financial Meltdowns.
For the record, we’re not talking about the Holy Bible… the bible I’m talking about is the sixth edition of Security Analysis…”
Click here to read the article.
Seth Klarman and Security Analysis - featured in the Financial Times
October 15, 2008
October 10 2008
There’s logic behind my guilty secret
By David Stevenson
“Time for a guilty secret: I started buying shares this week. My colleague Merryn Somerset Webb might think that the markets are still going to hell in a handcart and I don’t disagree with her on a macro level – I think we’ll be testing 4000 for the FTSE, bank rescue or not!”
Click here to read the article.
Benjamin Graham and Security Analysis featured on Yahoo! Finance
October 15, 2008
October 8, 2008
Funds That Avoid Disaster
By John Coumarianos
“…it’s striking that Benjamin Graham, author of Security Analysis and Warren Buffett’s teacher, advocated an investment approach, employable by both professional investors and regular folks, that effectively would have sidestepped the past two disasters.”
Click here to read the article.
Reuters article about Security Analysis
October 15, 2008
Decades on, value in Buffett’s bible
By Herbert Lash
NEW YORK, Oct 9 (Reuters) - “How did Warren Buffett get such good terms on his recent investments in Goldman Sachs and General Electric? A new edition of “Security Analysis” by Benjamin Graham and David Dodd may provide some answers.”
Click here to read the article.
Security Analysis - referenced in Jason Zweig’s column in the Wall Street Journal - Again!
October 15, 2008
WALL STREET JOURNAL, THE INTELLIGENT INVESTOR, OCTOBER 7, 2008
For Investors, Dealing With a Loss of Control
By JASON ZWEIG
Even the greatest investors have felt the same kind of fear and pain you are probably feeling. For proof, look no further than “Security Analysis,” the classic textbook by Benjamin Graham and David Dodd…
Click here to read the article.
Bruce Greenwald - quoted in Barron’s
October 15, 2008
BARRON’S, MONDAY, OCTOBER 6, 2008
Like Money in the Bank
By Dimitra Defotis
Companies that generate lots of cash are the place to be when credit is tight. Here are 25 cash cows likely to weather the current crisis well.
Click here to read the article.
Security Analysis - mentioned in Jason Zweig’s column in the Wall Street Journal
October 15, 2008
WALL STREET JOURNAL, THE INTELLIGENT INVESTOR, OCTOBER 4, 2008
Summon Your Courage and Buy Stocks
Investors Who Conquer Stock-Phobia Have an Edge Over Those Too Focused on Their Rearview Mirror
By JASON ZWEIG