Security Analysis: Preface

Security Analysis is arguably of one the best investment books transcending generations ever since it was first published in 1935. To date, it is still widely used by aspiring investors and professionals as a guide to help them in their journey to wealth. Written by Benjamin Graham and David Dodd, two of the people instrumental to launching the highly successfully career of the Oracle of Omaha. Warren Buffett only has high praise for the book and the authors, "They laid a roadmap for investing that I have now been following for 57 years. There's been no reason to look for another."  

We will break down the principles ideas, and insights shared from the book and see how it would help us make investing decisions and guide us from being part of the herd to becoming an Intelligent Investor.

Preface (as written by Seth A. Klerman)
Klerman is a very conservative investor with unconventional strategies, and often holds a significant amounts of cash in his investment portfolio

Klerman makes these important points about Investors and Investing in general:

A Look at Initial Public Offers in 2013

The Philippine Stocks Exchange expects a total of nine public listings for this year.

Philippine Business Bank (PBB)
Sector - Financials (Bank)
Initial offer price - P31.50 (Feb. 19)
All time high - P38.85 (Mar. 5)
All time low - P21.85 (Aug. 28)

PBB is a savings bank which focuses on corporate and small and medium enterprise markets. It provides close to a full range of banking services and products including cash management, retail and corporate lending, deposit products, international trade finance, treasury and trust products. Trade price now ranges from P24 to P24.60.