Security Analysis, Part I Survey And Approach by Benjamin Graham

Principles and Technique

A foundational guide to evaluating investments that lays out a disciplined framework for distinguishing investment from speculation, assessing intrinsic value, and insisting on a margin of safety; it emphasizes careful analysis of financial statements, earnings, bond security and equity characteristics, and the effects of market fluctuations, and it prescribes conservative, long-term valuation methods and diversification to manage risk while seeking satisfactory returns.