Security Analysis: Principles and Technique

Binding strip
Short Title
Quotation from Horace
Title Page
Printer's Imprint
Dedication
Preface to the 3rd Edition
Preface to the 1st Edition
CONTENTS
PART I: SURVEY AND APPROACH
	1. Introduction. The Array of Securities. Economic Background
	2. The Scope and Limitations of Security Analysis
	3. The Behavior of the Security Markets
	4. Investment and Speculation
	5. Investment Policy
	6. Nature and Sources of the Analyst’s Information
	7. Quantitative and Qualitative Factors in Security Analysis. The Margin-of-safety Concept
	8. Classification of Securities
PART II: ANALYSIS OF FINANCIAL STATEMENTS
	9. Analysis of the Income Account: General Procedure
	10. Effect of Reserves upon the Income Account
	11. Inventory Valuations and Inventory Reserves Contingency Reserves
	12. The Relation of Depreciation and Similar Charges to Earning Power
	13. Amortization Charges from the Investor’s Viewpoint
	14. Allowance for Results of Subsidiaries and Affiliates
	15. Reported Earnings and Taxable Earnings
	16. Balance-sheet Analysis
	17. Interpretations of the Financial Data: Per-share Figures and Key Ratios
	18. A Comparison Based on Key Ratios. Physical Data Used in Analysis
	19. Analysis of Specific Industries. Railroad Analysis
	20. Factors in Public-utility Analysis: Introduction
	21. Factors in Public-utility Analysis: Income-statement Analysis
PART III: FIXED-INCOME SECURITIES
	22. The Selection of Fixed-income Securities
	23. Specific Standards for Bond Investment
	24. Specific Standards for Bond Investment (Continued)
	25. Specific Standards for Bond Investment (Continued)
	26. Additional Factors in Bond Analysis
	27. Preferred Stocks
	28. Technique of Selecting Preferred Stocks for Investment
	29. Income Bonds and Guaranteed Securities
PART IV: THE VALUATION OF COMMON STOCKS
	30. The Theory of Common-stock Investment. Historical Survey
	31. Current Modes of Common-stock Investment
	32. The Pros and Cons of the Valuation Approach. The Valuation Factors
	33. Projections of Earnings and Dividends. Significance of the Earnings Record. The Concept of Earning Power
	34. The Dividend Factor in Common-stock Valuation
	35. Technical Aspects of the Dividend Rate. Stock Dividends
	36. The Capitalization Rate for Earnings and Dividends
	37. Capitalization Structure
	38. The Asset-value Factor in Common-stock Valuation
	39. The Valuation of Public-utility Common Stocks
	40. The Valuation of Public-utility Common Stocks (Continued)
PART V: SENIOR SECURITIES WITH SPECULATIVE FEATURES
	41. Privileged Issues
	42. Technical Characteristics of Privileged Senior Securities
	43. Participating and Warrant-bearing Issues. Privileged Issues vs. the Related Common Stocks
	44. Senior Securities of Questionable Safety
	45. Leverage
	46. Low-priced Common Stocks. Option Warrants
PART VI: STOCKHOLDERS AND MANAGEMENT
	47. General Approach to the Subject. Stockholders and Managerial Efficiency
	48. Stockholders, Managements, and Dividend Policy
	49. Stockholders and Their Capital
	50. Stockholder-Management Controversies
	51. Regulation by the Securities and Exchange Commission. Recapitalizations and Reorganizations
PART VII: SECURITY ANALYSIS IN ACTION
	52. Discrepancies between Price and Value
	53. Market Analysis and Security Analysis
Appendix
Index