Graham and Dodd's Security Analysis

Graham and Dodd's "Security Analysis," first published in 1934, is a foundational text in the field of value investing and financial analysis. The book emphasizes the importance of thorough research and fundamental analysis of companies to assess their true value, rather than speculating on market trends. It introduces concepts like intrinsic value, margin of safety, and the importance of analyzing financial statements. The authors advocate for a disciplined, long-term investment approach focused on buying undervalued securities to minimize risks and enhance returns, influencing generations of investors, including Warren Buffett.