Value Investing from Graham to Buffett and Beyond Book Review
Ben Graham may have done for investing what Euclid did for geometry, but the Graham student must take a long and winding road to collect and organize Grahamian "theorems." Greenwald and company modernize and thoughtfully organizes the value framework originally expounded by Graham in "Value Investing from Graham to Buffett and Beyond."
This is a required read for any practicing or prospective value investor. I have read most of the books on value investing and found this one to be both insightful as well as practical compared to the others. It offers a great mix of both philosophy and practice. This book also introduces a lot of new content. The principles of sound investment will never change, but the application of those principles is constantly changing.
There are various examples from Glenn Greenberg at Chieftain Capital Managment, who applies a concentrated value approach, to Walter Schloss who applies a diversified value approach. There are plenty of methods for the aspiring value investor to choose from. There is also a great profile on one of the future's great value investors-Paul Sonkin.