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: