Preface to the Second Edition |
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vii | |
Preface to the First Edition |
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ix | |
Introduction |
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1 | (16) |
PART I SURVEY AND APPROACH |
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The Scope and Limits of Security Analysis. The Concept of Intrinsic Value |
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17 | (14) |
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Fundamental Elements in the Problem of Analysis. Quantitative and Qualitative Factors |
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31 | (15) |
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46 | (11) |
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Distinctions between Investment and Speculation |
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57 | (12) |
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Classification of Securities |
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69 | (8) |
PART II FIXED-VALUE INVESTMENTS |
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The Selection of Fixed-Value Investments |
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77 | (14) |
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The Selection of Fixed-value Investments: Second and Third Principles |
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91 | (15) |
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Specific Standards for Bond Investment |
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106 | (11) |
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Specific Standards for Bond Investment (Continued) |
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117 | (17) |
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Specific Standards for Bond Investment (Continued) |
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134 | (11) |
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Specific Standards for Bond Investment (Concluded) |
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145 | (12) |
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Special Factors in the Analysis of Railroad and Public-utility Bonds |
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157 | (20) |
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Other Special Factors in Bond Analysis |
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177 | (7) |
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The Theory of Preferred Stocks |
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184 | (12) |
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Technique of Selection of Preferred Stocks for Investment |
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196 | (12) |
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Income Bonds and Guaranteed Securities |
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208 | (12) |
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Guaranteed Securities (Continued) |
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220 | (15) |
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Protective Covenants and Remedies of Senior Security Holders |
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235 | (14) |
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Protective Covenants (Continued) |
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249 | (12) |
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Preferred-stock Protective Provisions. Mainteance of Junior Capital |
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261 | (13) |
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Supervision of Investment Holdings |
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274 | (10) |
PART III SENIOR SECURITIES WITH SPECULATIVE FEATURES |
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284 | (11) |
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Technical Characteristics of Privileged Senior Securities |
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295 | (13) |
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Technical Aspects of Convertible Issues |
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308 | (10) |
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Senior Securities with Warrants. Participating Issues. Switching and Hedging |
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318 | (12) |
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Senior Securities of Questionable Safety |
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330 | (13) |
PART IV THEORY OF COMMON-STOCK INVESTMENT. THE DIVIDEND FACTOR |
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The Theory of Common-stock Investment |
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343 | (19) |
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Newer Canons of Common-stock Investment |
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362 | (10) |
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The Dividend Factor in Common-stock Analysis |
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372 | (17) |
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389 | (12) |
PART V ANALYSIS OF THE INCOME ACCOUNT. THE EARNINGS FACTOR IN COMMON-STOCK VALUATION |
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Analysis of the Income Account |
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401 | (15) |
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Extraordinary Losses and Other Special Items in the Income Account |
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416 | (11) |
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Misleading Artifices in the Income Account. Earnings of Subsidiaries |
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427 | (18) |
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The Relation of Depreciation and Similar Charges to Earning Power |
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445 | (20) |
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Public-utility Depreciation Policies |
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465 | (14) |
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Amortization Charges from the Investor's Standpoint |
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479 | (27) |
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Significance of the Earnings Record |
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506 | (15) |
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Specific Reasons for Questioning or Rejecting the Past Record |
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521 | (9) |
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Price-earnings Ratios for Common Stocks. Adjustments for Changes in Capitalization |
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530 | (11) |
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541 | (13) |
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Low-priced Common Stocks. Analysis of the Source of Income |
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554 | (13) |
PART VI BALANCE-SHEET ANALYSIS. IMPLICATIONS OF ASSET VALUES |
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Balance-sheet Analysis. Significance of Book Value |
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567 | (11) |
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Significance of the Current-Asset Value |
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578 | (16) |
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Implications of Liquidating Value. Stockholder-management Relationships |
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594 | (17) |
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Balance-sheet Analysis (Concluded) |
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611 | (24) |
PART VII ADDITIONAL ASPECTS OF SECURITY ANALYSIS. DISCREPANCIES BETWEEN PRICE AND VALUE |
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635 | (13) |
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Cost of Financing and Management |
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648 | (11) |
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Some Aspects of Corporate Pyramiding |
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659 | (10) |
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Comparative Analysis of Companies in the Same Field |
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669 | (15) |
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Discrepancies Between Price and Value |
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684 | (20) |
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Discrepancies between Price and Value (Continued) |
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704 | (25) |
Appendix |
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729 | (102) |
Index |
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831 | |