The bible of value investing. This is the second part of my summary of Security Analysis – Benjamin Graham & David Dodd’s legacy to up-and-coming investors. In this part we’ll cover the investor’s interest in the income statement and balance sheet of a company. 🔎 More from the greatest stock analysts out there 🔍
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Top 5 takeaways:
01:22 1. Analyzing the income statement
05:06 2. 6 common ways to misrepresent earnings
10:09 3. What does it indicate for the future?
12:16 4. Analyzing the balance sheet
14:03 5. The importance of capitalization structure
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 book makes available to investors, the original thinking of "this century's (and perhaps history's) most important thinker on applied portfolio investment.
The first edition of Security Analysis, published in 1934, forever changed the theory and practice of successful investing. Yet the remainder of that tumultuous decade brought unprecedented upheaval to the financial world, compelling Benjamin Graham and David Dodd to produce a comprehensively revised second edition – upon which this video is based.
Security Analysis has set the tone for decades of value investors. Let it provide you with along with timeless value investing insights that have proven relevant and profitable in all types of markets and financial environments--and will never go out of style.
The names Graham and Dodd have come to be inextricably linked in the minds of thoughtful, disciplined investors. Security Analysis made the two synonymous with intelligent, long-term investing, and forever changed the face of Wall Street. While post-Crash traders and investors treasured the book for its rigorous honesty, determined logic, and unequalled track record of success.
Security Analysis is Benjamin Graham and David Dodd’s timeless guide to value investing. It has long been out of print, but now joins Benjamin Graham's other masterpieces, The Intelligent Investor and The Interpretation of Financial Statements, as the three priceless keys to understanding the ins and outs of value investing, and why Warren Buffett (and many others with him) has been so successful in practicing it.
Cash flow statements didn’t exist during Benjamin Graham’s time as an investor, but the financial statements of the income account and balance sheet are still as relevant as they were back in 1940, so let’s concentrate on those two in this video.
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