Status Updates From Security Analysis: The Clas...

“The investor should not be stampeded into selling out holdings with a strong past record because of a current decline in earnings. He is likely, however, to pay more attention than usual to the question of improving the quality of his securities, and in many cases it should be possible to gain some benefits through carefully considered switches.”

Excerpt From
Security Analysis

“The investor should not be stampeded into selling out holdings with a strong past record because of a current decline in earnings. He is likely, however, to pay more attention than usual to the question of improving the quality of his securities, and in many cases it should be possible to gain some benefits through carefully considered switches.”

Excerpt From
Security Analysis

“But a prudent and intelligent investor should be able to avoid this temptation, and reconcile himself to accepting an unattractive yield from the best bonds, in preference to risking his principal in second-grade issues for the sake of a large coupon return.”

Excerpt From
Security Analysis

“An investment operation is one that can be justified on both qualitative and quantitative grounds.”

Excerpt From
Security Analysis
Seth A. Klarman
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“The real secret to investing is that there is no secret to investing. Every important aspect of value investing has been made available to the public many times over, beginning in 1934 with the first edition of Security Analysis. That so many people fail to follow this timeless approach enables those who adopt it to be successful.”

Excerpt From
Security Analysis: Preface

“In response to the dramatic success of early Moneyball adherents, baseball general managers have built sizable teams of data analysts. A key skill set in managing a baseball team, as with investing, is the ability to sort through proliferating masses of data to assign proper weights to disparate factors.”

Excerpt From
Security Analysis - Preface