Security Analysis



When I look for a good book, often I'm drawn to those that have stood the test of time. Books that are less about trends, and more about foundations. They're the ones you can really learn something applicable from. Security analysis has so much content that it's less like a book, and more of a full blown course on finance coming. The best part is it comes straight from the Columbia professor's that were influential in Warren Buffett's education.

Now everyone loves the idea chasing unicorns, especially the West Coast (Best Coast). But for those of us that didn't have stock in Google when it was founded, and realize our chances of finding another one are closer to that of winning the lottery, we need something more solid. What I like about Security Analysis is it communicates a strategy of constant growth, and minimizing risk. It challenges you to invest your time in analysis to get as close as can to an understanding of real value (as difficult as that might be to do). Then in situations where your analysis suggests that the market has undervalued particular assets that have enough security to weather trouble, thus minimal risk, invest. Invest intelligently, and invest defensively. Discipline the desire to invest emotionally, which is no easy feat.

I place this book in a "long term project" plan. I payed handsomely for my own hardcopy edition, but after I've read it more than a couple times as to understand the concepts, the next step will be entering the investing market to earn that money back and more. One day we all retire right? Why not do so comfortably

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