New Releases by Benjamin Graham

«El mejor libro sobre inversión jamás escrito.» WARREN BUFFETT BESTSELLER INTERNACIONAL EDICIÓN REVISADA Y ACTUALIZADA PRÓLOGO Y APÉNDICE DE WARREN BUFFETT La obra maestra de Benjamin Graham: la biblia de las finanzas que inspiró a Warren Buffett y descubrió al mundo la inversión en valor. Considerado el más importante consejero en inversión del siglo XX, Benjamin Graham enseñó e inspiró a financieros de todo el mundo. En El inversor inteligente, un libro que se convirtió en la biblia de los inversores ya desde su primera publicación en 1949, presentó su filosofía, basada en el concepto de "invertir en valor". A lo largo de sus páginas, Graham explica a los inversores cómo evitar errores de estrategia, al tiempo que describe cómo desarrollar un plan racional para comprar acciones y aumentar su valor. Todo ello pensando en el largo plazo, pues se trata de un método dirigido a inversores y no a especuladores: mientras que el especulador sólo tiene en cuenta las tendencias del mercado, el inversor obtiene sus beneficios con base en la disciplina y la investigación. En este bestseller internacional, Graham demuestra que lo más importante para planificar una estrategia de inversión no es la maximización de los beneficios, sino la minimización de las pérdidas. Con el paso de los años, el mercado ha ido dando la razón a todas y a cada una de las estrategias planteadas por Benjamin Graham, cuya obra sigue siendo una referencia ineludible. Esta edición, además, cuenta con la valiosa aportación del periodista financiero Jason Zweig, quien se ha encargado de comentar y actualizar el texto, trazando paralelismos entre los ejemplos aportados por Graham y las situaciones reales vividas en el mundo de las finanzas en los últimos años. El inversor inteligente, además de ser un clásico atemporal e imprescindible en cualquier biblioteca que se precie, es la obra más importante que se puede leer para proteger nuestras inversiones y alcanzar nuestros objetivos financieros.

Estes livros são leituras obrigatórias para quem quer se aventurar no mercado de ações! Garanta já o kit com dois grandes sucessos de Benjamin Graham, autor best-seller e o maior consultor de investimentos do século XX. O investidor inteligente , a bíblia do mercado de ações, é um livro indispensável para qualquer pessoa que quer ganhar dinheiro na bolsa de valores. Mesmo após tantas décadas, o tempo provou a atemporalidade dos ensinamentos de Benjamin Graham. De acordo com o conceito "investimento em valor", Graham ajudou milhares de pessoas ao redor do mundo a prosperarem financeiramente. Com conselhos que são tão úteis e importantes hoje quanto em sua primeira publicação, A interpretação das demonstrações financeiras reflete a fundo as ideias de Graham sobre a importância de investir de forma precisa. Líderes e investidores irão aprender a analisar os balanços patrimoniais de uma empresa e as declarações de vencimentos, e a chegar a um verdadeiro entendimento de seu posicionamento no mercado financeiro. Além disso, por meio de testes simples, poderão determinar a saúde financeira e o bem-estar de qualquer empresa.

Nova edição, de 2025, com comentários atualizados de Jason Zweig Maior consultor de investimento do século XX, Benjamin Graham ensinou e inspirou pessoas de todo o mundo. Seu conceito de "investimento em valor" protegeu investidores de erros substanciais e os ensinou a desenvolver estratégias de longo prazo, fazendo com que O investidor inteligente se tornasse a bíblia do mercado de ações desde sua primeira publicação, em 1949. Desde então, os acontecimentos do mercado financeiro nas últimas décadas provaram a sabedoria das estratégias de Graham. Em comemoração ao aniversário de 75 anos da obra, este clássico ganha uma nova edição ampliada e revisada. Ao mesmo tempo que preserva a integridade do texto original, esta versão inclui comentários atualizados do jornalista econômico Jason Zweig, cuja perspectiva incorpora as realidades do mercado atual e tece paralelos entre os exemplos de Graham e as novidades financeiras, além de ajudar o leitor a aplicar de forma prática os princípios de Graham. Vital e indispensável, este é o livro mais importante que você vai ler sobre como alcançar suas metas financeiras.

75th Anniversary Edition The classic work on investing, filled with sound and safe principles that are as reliable as ever, now revised with an introduction and appendix by financial legend Warren Buffett—one of the author’s most famous students—and newly updated commentaries on each chapter from distinguished Wall Street Journal writer Jason Zweig. “By far the best book about investing ever written.”—Warren Buffett Since its original publication in 1949, Benjamin Graham’s revered classic, The Intelligent Investor, has taught and inspired millions of people worldwide and remains the most respected guide to investing. Graham’s timeless philosophy of “value investing” helps protect investors against common mistakes and teaches them to develop sensible strategies that will serve them throughout their lifetime. Market developments over the past seven decades have borne out the wisdom of Graham’s basic policies, and in today’s volatile market, The Intelligent Investor remains essential. It is the most important book you will ever read on making the right decisions to protect your investments and make them grow. Featuring updated commentaries which accompany every chapter of Graham’s book—leaving his original text untouched—from noted financial journalist Jason Zweig, this newly revised edition offers readers an even clearer understanding of Graham’s wisdom and how it should be applied by investors today.

75th Anniversary Edition The classic work on investing, filled with sound and safe principles that are as reliable as ever, now revised with an introduction and appendix by financial legend Warren Buffett--one of the author''s most famous students--and newly updated commentaries on each chapter from distinguished Wall Street Journal writer Jason Zweig. "By far the best book on investing ever written."--Warren Buffett Since its original publication in 1949, Benjamin Graham''s revered classic, The Intelligent Investor, has taught and inspired millions of people worldwide and remains the most respected guide to investing. Graham''s timeless philosophy of "value investing" helps protect investors against common mistakes and teaches them to develop sensible strategies that will serve them throughout their lifetime. Market developments over the past seven decades have borne out the wisdom of Graham''s basic policies, and in today''s volatile market, The Intelligent Investor remains essential. It is the most important book you will ever read on making the right decisions to protect your investments and make them grow. Featuring updated commentaries which accompany every chapter of Graham''s book--leaving his original text untouched--from noted financial journalist Jason Zweig, this newly revised edition offers readers an even clearer understanding of Graham''s wisdom and how it should be applied by investors today.

75th Anniversary Edition The classic work on investing, filled with sound and safe principles that are as reliable as ever, now revised with an introduction and appendix by financial legend Warren Buffett--one of the author''s most famous students--and newly updated commentaries on each chapter from distinguished Wall Street Journal writer Jason Zweig. "By far the best book on investing ever written."--Warren Buffett Since its original publication in 1949, Benjamin Graham''s revered classic, The Intelligent Investor, has taught and inspired millions of people worldwide and remains the most respected guide to investing. Graham''s timeless philosophy of "value investing" helps protect investors against common mistakes and teaches them to develop sensible strategies that will serve them throughout their lifetime. Market developments over the past seven decades have borne out the wisdom of Graham''s basic policies, and in today''s volatile market, The Intelligent Investor remains essential. It is the most important book you will ever read on making the right decisions to protect your investments and make them grow. Featuring updated commentaries which accompany every chapter of Graham''s book--leaving his original text untouched--from noted financial journalist Jason Zweig, this newly revised edition offers readers an even clearer understanding of Graham''s wisdom and how it should be applied by investors today.

Das klassische Werk des »Vaters des Value Investing« – ausführlich kommentiert für die heutige Generation von Anlegern In diesem unschlagbaren Buch gibt Ihnen der Autor aufsehenerregende Antworten auf alle Kardinalfragen der Geldanlage. Seit 90 Jahren werden die Geheimnisse der Wertpapieranalyse nun schon an die jeweils nächste Generation von Anlegern weitergegeben. Warren Buffett beispielsweise, einer der reichsten Anleger der Neuzeit, bekennt sich ganz offen zu Benjamin Grahams Analysemethoden. In dieser neu kommentierten siebten Auflage des wichtigsten aller Investment-Klassiker stellt ein Team der erfahrensten Finanzjournalisten und der eloquentesten Autoren von Börsenliteratur dieses Jahrhundertwerk in den Kontext der modernen Märkte mit all ihren Besonderheiten und Herausforderungen. Zu den Kommentatoren gehören etwa Seth A. Klarman, Roger Lowenstein, Howard S. Marks, Nancy Zimmerman und viele weitere. Jeder Investor kann Wissen und Kraft aus der Bibel der Wertpapieranalyse schöpfen. Zu den wichtigen Inhalten gehören: Wie man den Wert eines Unternehmens bestimmt. Was die Kennzahlen über ein Unternehmen verraten. Wie Sie Bilanzen problemlos lesen und verstehen. Dazu gibt es handfeste Praxisbeispiele, klare Tabellen und sorgfältig ausgewählte Abbildungen. Die überlegenen Analysemethoden von Graham und Dodd in einem Buch der Extraklasse! Ein Mega-Kompendium des Börsenwissens für jetzt und immer.

Für Warren Buffett, einen der reichsten Menschen der Welt, ist es das bei Weitem beste Buch über Investitionen, das je geschrieben wurde. 1949 erstmals veröffentlicht, ist Intelligent investieren auch heute, nach inzwischen 75 Jahren, immer noch ein absoluter Klassiker der Börsenliteratur, an dem kein Investor vorbeikommt. Dieses Jubiläum hat sich der FinanzBuch Verlag zum Anlass genommen, um eine komplett neue, zeitgemäße Übersetzung anzufertigen. Lesen Sie Intelligent investieren so klar und wortgetreu wie nie zuvor! Grahams Idee des »Value Investing« war damals bahnbrechend, denn sie versprach nicht nur stetiges Wachstum, sondern sollte auch vor unerwarteten Verlusten schützen. Ein Buch also nicht für Spekulanten, sondern für echte Investoren. Im Laufe der Jahre haben die Marktentwicklungen die Weisheit von Grahams Strategien bewiesen. Eingeleitet wird das Buch durch ein Vorwort von Warren Buffett. Kommentare des Finanzjournalisten Jason Zweig zu jedem Kapitel helfen, das Gelesene einzuordnen. Zweig bezieht die Realitäten des heutigen Marktes mit ein, zeigt Parallelen zwischen Grahams Beispielen und den heutigen Finanzschlagzeilen und vermittelt den Lesern ein gründlicheres Verständnis dafür, wie Grahams Prinzipien anzuwenden sind. Intelligent investieren ist vermutlich das wichtigste Buch, das ein Investor überhaupt lesen kann, um seine finanziellen Ziele zu erreichen.

La vida del legendario inversor que revolucionó el mundo de las finanzas contada por él mismo Por primera vez traducidas al español, las memorias de Benjamin Graham nos abren la puerta a la vida de uno de los mejores inversores de todos los tiempos. Su larguísima carrera desde que entró a trabajar en la Bolsa con veinte años (lo cual le valió el sobrenombre de «el decano de Wall Street») permite comprender mejor las razones detrás del éxito de sus técnicas financieras, las primeras en tener una fundamentación intelectual sólida. Descubriremos que su revolucionario método de la «inversión en valor» estuvo inspirado por la pérdida de Graham de todos sus activos en el crack del 29, suceso que le animó a investigar sobre cómo minimizar los riesgos. Además, en estas páginas encontraremos también sus enseñanzas sobre estrategias de inversión inteligente como profesor en la Escuela de Negocios de Columbia, y podremos asomarnos a las interioridades de su trabajo en Wall Street. La autobiografía del autor del «mejor libro sobre inversión jamás escrito», según Warren Buffett, es un complemento idóneo a su obra ensayística, y nos muestra facetas de la vida personal del economista desconocidas para el gran público. Este libro puede resultar estimulante no sólo para apasionados de las finanzas, sino también para quienes tengan interés en la historia reciente. Sus recuerdos, escritos al final de su vida, constituyen un excelente documento para todos aquellos que aún hoy siguen inspirándose en la obra de este gurú atemporal.

Benjamin Graham è considerato la massima autorità del Novecento sul tema degli investimenti. Come esperto di finanza, pioniere dell’analisi dei titoli, mentore di Warren Buffett e di varie superstar del settore, la sua importanza non ha eguali. Il volume che state per leggere è l’intramontabile guida di Graham all’interpretazione dei bilanci aziendali: una risorsa inestimabile per comprendere il suo pensiero e i principi del value investing. I consigli che Graham offre in questo libro sono utili e lungimiranti. Come scrive lui stesso nella prefazione: «Se si dispone di informazioni precise sulla posizione finanziaria attuale di un’azienda e sui suoi ricavi del passato, si sarà in grado di valutarne le possibilità future. E questa è la funzione essenziale e il vero valore dell’analisi dei titoli.» I lettori impareranno ad analizzare lo stato patrimoniale e il conto economico di un’azienda per comprenderne appieno lo stato di salute finanziaria e gli utili dichiarati. Accessibile e pratica, Leggere e capire i bilanci è una guida essenziale per ogni investitore e si affianca idealmente al capolavoro di Graham, L’investitore intelligente.

10 લાખથી વધુ હાર્ડકવર કૉપીનું વેચાણ ગ્રેહામના ચિરકાલીન જ્ઞાનને, બજારની આજની પરિસ્થિતિને અનુરૂપ અપડેટ કરીને ટિપ્પણી સાથે ખૂબ સરસ રીતે રજૂ કરવામાં આવ્યું છે. વીસમી સદીના સૌથી મહાન ઇન્વેસ્ટમેન્ટ ઍડવાઇઝર બેન્જામીન ગ્રેહામે સમગ્ર વિશ્વના લોકોને ઘણું શીખવ્યું છે અને પ્રેરણા આપી છે. ગ્રેહામની ‘વૅલ્યૂ ઇન્વેસ્ટિંગ’ ફિલૉસૉફી લોકોને મોટી ભૂલથી બચાવે છે અને લાંબા ગાળાની સ્ટ્રેટેજી વિકસાવવાનું શીખવે છે. આ ફિલૉસૉફીએ ‘ધ ઇન્ટેલિજન્ટ ઇન્વેસ્ટર’ પુસ્તક 1949માં સૌપ્રથમ પ્રકાશિત થયું ત્યારથી જ તેને સ્ટૉક માર્કેટનું બાઇબલ બનાવી દીધું છે. અનેક વર્ષોથી બજારમાં જે ઘટનાક્રમ બની રહ્યા છે તે ગ્રેહામની વિદ્વતા અને અનુભવને સાચા પુરવાર કરી રહ્યા છે. ગ્રેહામની ઑરિજિનલ ટેક્સ્ટના હાર્દને યથાવત્ જાળવી રાખવા સાથે આ આવૃત્તિ રજૂ કરવામાં આવી રહી છે, જેમાં જાણીતા ફાઇનાન્શિયલ જર્નલિસ્ટ જેસન ઝ્u200cવીગની અપડેટેડ ટિપ્પણી રજૂ કરવામાં આવી છે, જે બજારમાં આજની વાસ્તવિકતા દર્શાવે છે. જેસનની ટિપ્પણી, ગ્રેહામનાં ઉદાહરણો અને આજની ફાઇનાન્શિયલ હેડલાઇન્સ વચ્ચે સમાનતા દર્શાવે છે, અને ગ્રેહામના સિદ્ધાંતોનો રોકાણમાં કઈ રીતે ઉપયોગ કરવો તેની વાચકને વધુ ગહન સમજ આપે છે. બીજી એક અગત્યની વાત, ‘ધ ઇન્ટેલિજન્ટ ઇન્વેસ્ટર’ની આ ‘કોલિન્સ બિઝનેસ એસેન્શિયલ્સ આવૃત્તિ’ તમારા નાણાકીય લક્ષ્યાંક (ફાઇનાન્શિયલ ગોલ્સ) કઈ રીતે પૂરા કરવા તે અંગેનું સૌથી અગત્યનું પુસ્તક છે, જે તમારે વાંચવું જ રહ્યું. ગ્રેહામના સિદ્ધાંતો રોકાણ અંગેના અત્યંત સફળ અને લોકપ્રિય અભિગમના મૂળભૂત સિદ્ધાંતોને સંપૂર્ણપણે અભિવ્યક્ત કરે છે. – મની મૅગેઝિન

Benjamin Graham, il più grande consulente finanziario del Novecento, ha istruito e ispirato gli investitori di tutto il mondo. La sua filosofia del “value investing”, che tutela l’investitore dagli errori più gravi e gli insegna a sviluppare strategie a lungo termine, ha fatto di questo classico la bibbia del mercato azionario fin dalla sua prima pubblicazione nel 1949. Non a caso Warren Buffett lo ha definito “il miglior libro sugli investimenti che sia mai stato scritto”. Nel corso degli anni, gli sviluppi del mercato hanno poi dimostrato l’efficacia delle strategie proposte da Graham. Preservando l’integrità del testo originale, questa edizione riveduta dal noto giornalista finanziario Jason Zweig, inquadra la trattazione nel contesto odierno, traccia parallelismi tra gli esempi di Graham e i grandi temi dell’economia di oggi, e offre ai lettori un quadro più esteso delle possibili applicazioni dei suoi principi. Attuale e indispensabile, questa edizione del classico di Graham è il libro più importante che possiate leggere per capire come si muovono i mercati finanziari e per centrare i vostri obiettivi.

EDIÇÃO REVISADA Atualizado com novos comentários de Jason Zweig. Prefácio e apêndice de Warren E. Buffett."De longe, o melhor livro sobre investimentos já escrito." – Warren Buffett"Se você tiver que ler um só livro sobre investimentos em toda a sua vida, que seja esse." — Fortune"Um dos 10 livros que todo o investidor deveria ler." — Revista Exame"Neste livro, um best-seller com mais de um milhão de exemplares vendidos, Benjamin Graham nos mostra que todo investidor inteligente deve combinar educação financeira, pleno conhecimento de mercado e, acima de tudo, uma visão de longo prazo. Essas são ferramentas fundamentais e de grande valia para quem deseja ter sucesso no mercado de ações." — Raymundo Magliano Filho, ex-presidente da Bovespa e atual presidente da Magliano Corretora de Câmbmbio e Valores Mobiliários"Com base em sua abordagem, vários discípulos de Graham — com destaque para Warren Buffett, talvez o mais famoso de todos os tempos — ainda hoje praticam esse método com extraordinário sucesso. Apesar de sua ampla difusão no mundo, as lições de Graham mantêm sua validade graças às extremas (e nem sempre racionais) flutuações que acontecem nas bolsas de valores do mundo. Como não há possibilidade real de que tais flutuações deixem de ocorrer, deixo aqui minha mais entusiástica recomendação deste brilhante e claríssimo livro. Bom proveito!" — Eduardo Rocha Rezende, sócio-diretor da Jardim Botânico PartnersMAIOR CONSULTOR DE INVESTIMENTO DO SÉCULO XX, BENJAMIN GRAHAM ensinou e inspirou pessoas de todo o mundo. O conceito de "valor de investimento" protegia os investidores de erros substanciais e os ensinou a desenvolver estratégias de longo prazo, fazendo com que O investidor inteligente se tornasse a Bíblia do mercado de ações desde sua primeira publicação, em 1949.Desde então, os desenvolvimentos do mercado provaram a sabedoria das estratégias de Graham.

Het beste boek over beleggen dat ooit is geschreven. De klassieker ‘De intelligente belegger’ uit 1949 wordt zelfs na ruim 70 jaar nog steeds geprezen als de bijbel die iedere belegger gelezen moet hebben. De filosofie van Benjamin Graham heeft zich door de jaren heen keer op keer bewezen – hij behoedt beleggers voor kostbare fouten en leert ze een succesvolle langetermijnstrategie te ontwikkelen. Omdat Graham niet vertelt wélke aandelen je zou moeten kopen, maar juist een effectieve manier van denken en handelen aanleert, is het boek nog steeds verbazingwekkend actueel. ‘De intelligente belegger’ is in de loop der jaren in talloze talen vertaald en sinds verschijnen zijn er wereldwijd meer dan 1 miljoen exemplaren verkocht. Niet voor niets door Warren Buffet uitgeroepen tot verreweg het beste boek over beleggen dat ooit is geschreven. Met een uitgebreide inleiding van superbelegger John C. Bogle, oprichter van The Vanguard Group.

Invertir según Benjamin Graham es una extraordinaria aproximación al estilo y el método de análisis que mayor éxito han tenido a la hora de determinar el valor real de una empresa. Concebidos en un período que se extiende desde los últimos años de la Primera Guerra Mundial hasta un lustro después del gran crash del 1929, estos artículos no sólo permiten hacerse una idea de la magnitud de las turbulencias económicas de la época, sino también seguir muy de cerca un procedimiento de evaluación para el que no ha pasado el tiempo y que se revela muy útil para el inversor.

Traditional Chinese edition of The Rediscovered Benjamin Graham: Selected Writings of the Wall Street Legend. This is a collection of writings, lectures, speeches, and interviews by Graham, investor, professor, and, more appropriately, the visionary who advocates the importance of investing in value. In Chinese. Distributed by Tsai Fong Books, Inc.

“They 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.” —Warren Buffett, on the writings of Benjamin Graham Legendary investing author and philosopher Benjamin Graham lived through interesting times. Soon after his graduation from Columbia College, the nation entered the First World War. As the stock market fluctuated in wild dips and peaks, the government seized control of the railroad industry, inflation and interest rates rose dramatically, and economic depression loomed on the horizon. During these events—and perhaps inspired by them—Graham began writing articles for The Magazine of Wall Street, putting to paper his earliest ideas on value investing and security analysis. For the first time, these important works have been anthologized into a single volume. Benjamin Graham on Investing is a treasure trove of rare and out-of-print articles that document the early flashes of genius from a man whose ideas and theories would revolutionize investment philosophy and inspire the careers of such luminaries as Warren Buffett, Seth Klarman, Charlie Munger, and countless other top-tier investors. The early works of Benjamin Graham have never been as relevant as they are today. The world’s markets are undergoing changeon a scale not unlike that of Graham’s era. David Darst, one of the world’s most respected experts on asset allocation, provides insightful analyses connecting Graham’s articles to events today. ,iu003eBenjamin Graham on Investing is a timeless classic that continues to have relevance more than 30 years after the author’s death.

Since its original publication in 1949, Graham’s book has remained the most respected guide to investing due to his timeless philosophy of “value investing.” Here he outlines the principles of stock selection for both the defensive and the enterprising investor, and stresses the advantages of a simple portfolio policy. Special features are the use of numerous comparisons of pairs of common stocks to bring out their elements of strength and weakness, and the construction of investment portfolios designed to meet specific requirements of quality and price attractiveness. “By far the best book on investing ever written.” -Warren E. Buffett “Fully conveys the basic principles of [Graham’s] enormously successful...approach.” -Money

A brief overview of money''s historical relationship to the commodities of gold and silver, including the author''s prophetic view of a new stage in monetary technique wherein monetary status and pure commodity value may be reciprocally beneficial and ultimately advantageous to the economy at large.

"A road map for investing that I have now been following for 57 years." --From the Foreword by Warren E. Buffett First published in 1934, Security Analysis is one of the most influential financial books ever written. Selling more than one million copies through five editions, it has provided generations of investors with the timeless value investing philosophy and techniques of Benjamin Graham and David L. Dodd. As relevant today as when they first appeared nearly 75 years ago, the teachings of Benjamin Graham, “the father of value investing,” have withstood the test of time across a wide diversity of market conditions, countries, and asset classes. This new sixth edition, based on the classic 1940 version, is enhanced with 200 additional pages of commentary from some of today’s leading Wall Street money managers. These masters of value investing explain why the principles and techniques of Graham and Dodd are still highly relevant even in today’s vastly different markets. The contributor list includes: Seth A. Klarman, president of The Baupost Group, L.L.C. and author of Margin of Safety James Grant, founder of Grant''s Interest Rate Observer, general partner of Nippon Partners Jeffrey M. Laderman, twenty-five year veteran of BusinessWeek Roger Lowenstein, author of Buffett: The Making of an American Capitalist and When America Aged and Outside Director, Sequoia Fund Howard S. Marks, CFA, Chairman and Co-Founder, Oaktree Capital Management L.P. J. Ezra Merkin, Managing Partner, Gabriel Capital Group . Bruce Berkowitz, Founder, Fairholme Capital Management. Glenn H. Greenberg, Co-Founder and Managing Director, Chieftain Capital Management Bruce Greenwald, Robert Heilbrunn Professor of Finance and Asset Management, Columbia Business School David Abrams, Managing Member, Abrams Capital Featuring a foreword by Warren E. Buffett (in which he reveals that he has read the 1940 masterwork “at least four times”), this new edition of Security Analysis will reacquaint you with the foundations of value investing—more relevant than ever in the tumultuous 21st century markets.

"Graham''s ideas inspired the investment community for nearly a century."--Smart Money "Graham''s method of investing is as relevant today as it was when he first espoused it during the Roaring Twenties."--Investor''s Business Daily Benjamin Graham''s revolutionary theories have influenced and inspired investors for nearly 70 years. First published in 1934, his Security Analysis is still considered to be the value investing bible for investors of every ilk. Yet, it is the second edition of that book, published in 1940 and long since out of print, that many experts--including Graham protégé Warren Buffet--consider to be the definitive edition. This facsimile reproduction of that seminal work makes available to investors, once again, the original thinking of "this century''s (and perhaps history''s) most important thinker on applied portfolio investment."

"All investors, from beginners to old hands, should gain from the use of this guide, as I have." From the Introduction by Michael F. Price, president, Franklin Mutual Advisors, Inc. Benjamin Graham has been called the most important investment thinker of the twentieth century. As a master investor, pioneering stock analyst, and mentor to investment superstars, he has no peer. The volume you hold in your hands is Graham''s timeless guide to interpreting and understanding financial statements. It has long been out of print, but now joins Graham''s other masterpieces, The Intelligent Investor and Security Analysis, as the three priceless keys to understanding Graham and value investing. The advice he offers in this book is as useful and prescient today as it was sixty years ago. As he writes in the preface, "if you have precise information as to a company''s present financial position and its past earnings record, you are better equipped to gauge its future possibilities. And this is the essential function and value of security analysis." Written just three years after his landmark Security Analysis, The Interpretation of Financial Statements gets to the heart of the master''s ideas on value investing in astonishingly few pages. Readers will learn to analyze a company''s balance sheets and income statements and arrive at a true understanding of its financial position and earnings record. Graham provides simple tests any reader can apply to determine the financial health and well-being of any company. This volume is an exact text replica of the first edition of The Interpretation of Financial Statements, published by Harper & Brothers in 1937. Graham''s original language has been restored, and readers can be assured that every idea and technique presented here appears exactly as Graham intended. Highly practical and accessible, it is an essential guide for all business people--and makes the perfect companion volume to Graham''s investment masterpiece The Intelligent Investor.

When Benjamin Graham died at age 82, he was one of the great legends of Wall Street: brilliant, successful, ethical--the man who invented the discipline of security analysis. Now, 20 years after his death, his memoirs are reaching the public at last--a hugely successful chronicle of one of the richest and most eventful lives of the century. of photos.

According to Graham, this innovative storage plan would then serve to adjust supply and demand, stabilize prices, and increase the overall standard of living.

Explains financial analysis techniques, shows how to interpret financial statements, and discusses the analysis of fixed-income securities and the valuation of stocks.