Author(s): Benjamin Graham, David L. Dodd
Edition: 3
Publisher: McGraw-Hill Book Company
Year: 1951
Language: English
Commentary: 1934, this the 3rd edition, 1951. Bookmarked, OCR text layer, 400dpi scan.
Tags: fundamental analysis, investing, securities markets
Binding strip
Short Title
Quotation from Horace
Title Page
Printer's Imprint
Dedication
Preface to the 3rd Edition
Preface to the 1st Edition
CONTENTS
PART I: SURVEY AND APPROACH
1. Introduction. The Array of Securities. Economic Background
2. The Scope and Limitations of Security Analysis
3. The Behavior of the Security Markets
4. Investment and Speculation
5. Investment Policy
6. Nature and Sources of the Analyst’s Information
7. Quantitative and Qualitative Factors in Security Analysis. The Margin-of-safety Concept
8. Classification of Securities
PART II: ANALYSIS OF FINANCIAL STATEMENTS
9. Analysis of the Income Account: General Procedure
10. Effect of Reserves upon the Income Account
11. Inventory Valuations and Inventory Reserves Contingency Reserves
12. The Relation of Depreciation and Similar Charges to Earning Power
13. Amortization Charges from the Investor’s Viewpoint
14. Allowance for Results of Subsidiaries and Affiliates
15. Reported Earnings and Taxable Earnings
16. Balance-sheet Analysis
17. Interpretations of the Financial Data: Per-share Figures and Key Ratios
18. A Comparison Based on Key Ratios. Physical Data Used in Analysis
19. Analysis of Specific Industries. Railroad Analysis
20. Factors in Public-utility Analysis: Introduction
21. Factors in Public-utility Analysis: Income-statement Analysis
PART III: FIXED-INCOME SECURITIES
22. The Selection of Fixed-income Securities
23. Specific Standards for Bond Investment
24. Specific Standards for Bond Investment (Continued)
25. Specific Standards for Bond Investment (Continued)
26. Additional Factors in Bond Analysis
27. Preferred Stocks
28. Technique of Selecting Preferred Stocks for Investment
29. Income Bonds and Guaranteed Securities
PART IV: THE VALUATION OF COMMON STOCKS
30. The Theory of Common-stock Investment. Historical Survey
31. Current Modes of Common-stock Investment
32. The Pros and Cons of the Valuation Approach. The Valuation Factors
33. Projections of Earnings and Dividends. Significance of the Earnings Record. The Concept of Earning Power
34. The Dividend Factor in Common-stock Valuation
35. Technical Aspects of the Dividend Rate. Stock Dividends
36. The Capitalization Rate for Earnings and Dividends
37. Capitalization Structure
38. The Asset-value Factor in Common-stock Valuation
39. The Valuation of Public-utility Common Stocks
40. The Valuation of Public-utility Common Stocks (Continued)
PART V: SENIOR SECURITIES WITH SPECULATIVE FEATURES
41. Privileged Issues
42. Technical Characteristics of Privileged Senior Securities
43. Participating and Warrant-bearing Issues. Privileged Issues vs. the Related Common Stocks
44. Senior Securities of Questionable Safety
45. Leverage
46. Low-priced Common Stocks. Option Warrants
PART VI: STOCKHOLDERS AND MANAGEMENT
47. General Approach to the Subject. Stockholders and Managerial Efficiency
48. Stockholders, Managements, and Dividend Policy
49. Stockholders and Their Capital
50. Stockholder-Management Controversies
51. Regulation by the Securities and Exchange Commission. Recapitalizations and Reorganizations
PART VII: SECURITY ANALYSIS IN ACTION
52. Discrepancies between Price and Value
53. Market Analysis and Security Analysis
Appendix
Index
