Security analysis : principles and technique

Foreword / Warren E. Buffett

Preface to the Sixth Edition: The Timeless Wisdom of Graham and Dodd / Seth A. Klarman

Introduction to the Sixth Edition: Benjamin Graham and Security Analysis: The Historical Backdrop / James Grant

pt. I. Survey and Approach

Introduction to Part I: The Essential Lessons / Roger Lowenstein

1. The Scope and Limits of Security Analysis, the Concept of Intrinsic Value

2. Fundamental Elements in the Problem of Analysis, Quantitative and Qualitative Factors

3. Sources of Information

4. Distinctions Between Investment and Speculation

5. Classification of Securities

pt. II. Fixed-Value Investments

Introduction to Part II: Unshackling Bonds / Howard S. Marks

6. The Selection of Fixed-Value Investments

7. The Selection of Fixed-Value Investments: Second and Third Principles

8. Specific Standards for Bond Investment

9. Specific Standards for Bond Investment (Continued): See Accompanying CD

10. Specific Standards for Bond Investment (Continued)

11. Specific Standards for Bond Investment (Continued): See Accompanying CD

12. Special Factors in the Analysis of Railroad and Public-Utility Bonds: See Accompanying CD

13. Other Special Factors in Bond Analysis: See Accompanying CD

14. The Theory of Preferred Stocks: See Accompanying CD

15. Technique of Selecting Preferred Stocks for Investment

16. Income Bonds and Guaranteed Securities

17. Guaranteed Securities (Continued)

18. Protective Covenants and Remedies of Senior Security Holders

19. Protective Covenants (Continued)

20. Preferred-Stock Protective Provisions. Maintenance of Junior Capital See Accompanying CD

21. Supervision of Investment Holdings

pt. III. Senior Securities With Speculative Features

Introduction to Part III: "Blood and Judgement" / J. Ezra Merkin

22. Privileged Issues

23. Technical Characteristics of Privileged Senior Securities

24. Technical Aspects of Convertible Issues

25. Senior Securities With Warrants. Participating Issues, Switching and Hedging: See Accompanying CD

26. Senior Securities of Questionable Safety

pt. IV. Theory of Common-Stock Investment. The Dividend Factor

Introduction to Part IV: Go with the Flow / Bruce Berkowitz

27. The Theory of Common-Stock Investment

28. Newer Canons of Common-Stock Investment

29. The Dividend Factor in Common-Stock Analysis

30. Stock Dividends: See Accompanying CD

pt. V. Analysis of the Income Account. The Earnings Factor in Common-Stock Valuation

Introduction to Part V: The Quest for Rational Investing / Glenn H. Greenberg

31. Analysis of the Income Account

32. Extraordinary Losses and Other Special Items in the Income Account

33. Misleading Artifices in the Income Account. Earnings of Subsidiaries

34. The Relation of Depreciation and Similar Charges to Earning Power

35. Public-Utility Depreciation Policies: See Accompanying CD

36. Amortization Charges from the Investor's Standpoint: See Accompanying CD

37. Significance of the Earnings Record

38. Specific Reasons for Questioning Or Rejecting the Past Record

39. Price-Earnings Ratios for Common Stocks. Adjustments for Changes in Capitalization

40. Capitalization Structure

41. Low-Priced Common Stocks. Analysis of the Source of Income

pt. VI. Balance-Sheet Analysis. Implications of Asset Values

Introduction to Part VI: Deconstructing the Balance Sheet / Bruce Greenwald

42. Balance-Sheet Analysis. Significance of Book Value

43. Significance of the Current-Asset Value

44. Implications of Liquidating Value. Stockholder-Management Relationships

45. Balance-Sheet Analysis (Concluded)

pt. VII. Additional Aspects of Security Analysis. Discrepancies Between Price and Value

Introduction to Part VII: The Great Illusion of the Stock Market and the Future of Value Investing / David Abrams

46. Stock-Option Warrants: See Accompanying CD

47. Cost of Financing and Management

48. Some Aspects of Corporate Pyramiding

49. Comparative Analysis of Companies in the Same Field

50. Discrepancies Between Price and Value

51. Discrepancies Between Price and Value (Continued)

52. Market Analysis and Security Analysis

pt. VIII. Global Value Investing

Globetrotting with Graham and Dodd / Thomas A. Russo

Appendix. See Accompanying CD