[Archives] Discussion Of Benjamin Graham And Value Investing

Discussion Of Benjamin Graham And Value Investing by Redfield, Blonsky & Co.

[buffett]

December 23, 1997

Dear Client or Colleague:

This is an E-mail that I sent this morning, which I thought might be of interest to you:

I was rummaging through an old textbook called Security Analysis by David Dodd and Benjamin Graham. This book is known as The Bible for financial analysts who use a value approach.  It was first written in 1934 and updated through 1988.  The following is a quote which I find quite relevant in this "eternal bull market."

"Equally destructive of satisfactory investment are the fads and herd instincts of major market participants in the marketplace.  For security analysis to contribute positively to the investment process,...