New York; (1934): Whittlesey House, McGraw-Hill Book Co. First Edition. Octavo. Item #025993
5th printing. xi, 725 pages, diagrams. After Graham lost a small fortune in the stock market crash of 1929, he began a systematic study which became Security Analysis in 1934 which chronicled his method to analyze and value securities. This, along with Graham's later book "The Intelligent Investor" became the basic work not only for Warren Buffett, his most famous student who quotes from it at his annual meetings, but also Bill Ruane and Walter Schloss. Today's major investors still apply the Graham and Dodd approach to assess the deal's price as practiced by Warren Buffett especially the "margin-of-safety" approach. It was this rare book which is generally recognized as one of the most influential books on investing every published. Graham is considered the first proponent of value investing, an investment approach he began teaching at Columbia Business School in the late 1920's and refined with David Dodd (1895-1988). The later reprint that year in London stated first edition, the first Whittlesey House does not note it. A handsome copy bound in black cloth spine lettered and ruled in gilt, no names, bookplates or writing within this copy, only very light rubbing to spine ends with a larger rub mark to spine.