Reviews
“[Graham and Dodd] laid out a road map for investing that I have now been following for 57 years. There’s been no reason to look for another.”
—From the Foreword by Warren E. Buffett
“The sixth edition of the iconic Security Analysis disproves the adage ‘’tis best to leave well enough alone.’ An extraordinary team of commentators, led by Seth Klarman and James Grant, bridge the gap between the simpler financial world of the 1930s and the more complex investment arena of the new millennium. Readers benefit from the experience and wisdom of some of the financial world’s finest practitioners and best informed market observers. The new edition of Security Analysis belongs in the library of every serious student of finance.”
—David F. Swensen, Chief Investment Officer, Yale University, author of Pioneering Portfolio Management and Unconventional Success
“Security Analysis, a 1940 classic updated by some of the greatest financial minds of our generation, is more essential than ever as a learning tool and reference book for disciplined investors today.”
—Jamie Dimon, Chairman and CEO, JPMorgan Chase
“Benjamin Graham is the father of investment analysts everywhere, originally sparking the debate for a credential to professionalize the industry which led to the CFA Charter. He transformed the practice of financial analysis from trade to science, starting with his groundbreaking book, Security Analysis, first published in 1934. This edition, with new commentary by some of today’s finest investors, belongs on every investment professional’s shelf.”
—Jeff Diermeier, CFA, President and CEO, CFA Institute
“The best of the past made current by the best of the present. Tiger Woods updates Ben Hogan. It has to be good for your game.”
—Jack Meyer, Managing Partner and CEO, Convexity Capital
“While Coca-Cola found it couldn’t improve on a time-tested classic, Seth Klarman, Jim Grant, Bruce Greenwald, et al., prove that a great book can be made even better. Seth Klarman’s preface should be required reading for all investors, and collectively, the contributing editors’ updates make for a classic in their own right. The enduring lesson is that an understanding of human behavior is a critical part of the process of security analysis.”
—Brian C. Rogers, Chairman, T. Rowe Price Group
“A classic has now been updated by some of the greatest and most thoughtful investors of our time. The book was a must read and has now been elevated to a new level.”
—Daniel S. Och, Senior Managing Member, Och-Ziff Capital Management Group
“Readers will find the updated version of Graham and Dodd’s Security Analysis to be much improved from earlier editions. While the timeless advice from two of the greatest value investors continues to resonate, the essays that are contributed by some of the world’s top value investors add immeasurably to the read. These investors practice what they preach in their essays and combine to make this edition the best ever! I highly recommend this volume to all investors—old and young—who will benefit from the tried and true principles of the past and the updated applications to today’s turbulent markets!”
—Morris Smith, Private Investor, Former Manager, Fidelity Magellan Fund
“No book empowers you with better tools for intelligent investing than Security Analysis. Seth Klarman and his fabulous team have produced a nonpareil edition of Ben Graham’s classic for the new millennium.”
—Mason Hawkins, Chairman, Longleaf Partners,Southeastern Asset Management
“The ideas of Graham and Dodd have withstood all kinds of market conditions and 75 years of scrutiny—making them ever more relevant for modern-day investing. The essays by Klarman and other storied value investors lucidly illustrate that while the capital markets landscape may be vastly changed from years past, basic investor traits are not, and disciplined application of the principles of Security Analysis continues to provide an important edge in investing.”
—André F. Perold, George Gund Professor of Finance and Banking, Harvard Business School