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40551784 Benjamin Graham Booklet

40551784 Benjamin Graham Booklet

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Published by SEKAi.org

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Published by: SEKAi.org on Aug 14, 2013
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Common Sense Investing:The Papers of Benjamin Graham
Written by
Benjamin Graham
VALUEHUNTR@GMAIL.COM 
 
www.valuehuntr.com 2
Contents
PART I. THE INVESTOR AND THE MARKET
Investment vs. Speculation ……………………………………………………………………… 4The Unsound Logic of Wall Street ……………………………………………………..……….. 9The Individual Investor and the Market …………………………………………………………. 13Portfolio Management Approach ……………………………………………………………...… 17The Past and Future of Common Stocks ……………………………………….……………...… 18A Lesson from the Past ……………………………………………………………………….…. 22Security Analysis as a Science …………………………………………………………….…….. 26The Fallacy of Efficient Markets …………………………………………………………........... 32
PART II. THE INVESTOR AND THE BUSINESS
Common Stock Categories ……………………………………………………………………… 36Analysis of Financial Statements …………………………………………………..……………. 38Valuation of Common Stocks ……………………………………………………….…….…….. 40Alternative Investments …………………………………………………………………………. 54Special Situations ……………………………………………………………………………….. 55Common Stocks and Inflation …………………………………………………………..………. 61The Beta Coefficient …………………………………………………………………………….. 63Pitfalls of Discounted Cash Flows ………………………………………………………………. 63Dividends and Tax Matters ……………………………………………………………………… 65Threats to Equity Values ………………………………………………………………………… 84Shareholders and Management ………………………………………………………………….. 85U.S. Steel Case Study …………………………………………………………………………… 90Prologue …………………………………………………………………………………………. 96
 
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PART ITHE INVESTOR AND THE MARKET

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