Since its publication,Security Analysis by Graham and Dodd has been the investment bible and has sold more than 750,000 copies. Now the fifth edition of this classic updates the application of the Graham and Dodd valuation approach for today's greatly changed investment environment. This edition brings the Graham and Dodd approach up to date with the changes that have occurred since the last edition was published--changes in investment practices and regulation, several new tax laws, the explosion of new accounting and financial reporting rules, persistent inflation in capital markets, new investment instruments, and more. Maintaining the high standards of prior editions, Security Analysis puts at your fingertips the authoritative guidance on analyzing securities that generations of users have come to rely on. Here in clear, easy-to-use explanations you'll find the tools of financial statement analysis--from the investor's viewpoint and with an investor's notion of income and capital maintenance--that have enabled value investors to keep the edge in a highly competitive market. The book provides the principles and techniques to measure asset values and cash flows so that you can sharpen your judgments of company earnings, refresh your insight into what individual companies are worth, and evaluate how much debt a leveraged company can service. You'll find practical guidance to make better investment decisions whether you're a security analyst, portfolio manager, broker/dealer, investment banker, credit officer, or a serious individual investor. Heavily illustrated with examples taken from real companies, Security Analysis, Fifth Edition, is an investment book like no other for investors who aspire to the highest investment accomplishments.

Explains financial analysis techniques, shows how to interpret financial statements, and discusses the analysis of fixed-income securities and the valuation of stocks.

Financial analysis and approach. Analysis of financial statements. Impact of security analysis.

"Graham's ideas inspired the investment community for nearly a century."--Smart Money "Graham's method of investing is as relevant today as it was when he first espoused it during the Roaring Twenties."--Investor's Business Daily Benjamin Graham's revolutionary theories have influenced and inspired investors for nearly 70 years. First published in 1934, his Security Analysis is still considered to be the value investing bible for investors of every ilk. Yet, it is the second edition of that book, published in 1940 and long since out of print, that many experts--including Graham protégé Warren Buffet--consider to be the definitive edition. This facsimile reproduction of that seminal work makes available to investors, once again, the original thinking of "this century's (and perhaps history's) most important thinker on applied portfolio investment."

Praise for Financial Statement Analysis A Practitioner's Guide Third Edition "This is an illuminating and insightful tour of financial statements, how they can be used to inform, how they can be used to mislead, and how they can be used to analyze the financial health of a company." -Professor Jay O. Light Harvard Business School "Financial Statement Analysis should be required reading for anyone who puts a dime to work in the securities markets or recommends that others do the same." -Jack L. Rivkin Executive Vice President (retired) Citigroup Investments "Fridson and Alvarez provide a valuable practical guide for understanding, interpreting, and critically assessing financial reports put out by firms. Their discussion of profits-'quality of earnings'-is particularly insightful given the recent spate of reporting problems encountered by firms. I highly recommend their book to anyone interested in getting behind the numbers as a means of predicting future profits and stock prices." -Paul Brown Chair-Department of Accounting Leonard N. Stern School of Business, NYU "Let this book assist in financial awareness and transparency and higher standards of reporting, and accountability to all stakeholders." -Patricia A. Small Treasurer Emeritus, University of California Partner, KCM Investment Advisors "This book is a polished gem covering the analysis of financial statements. It is thorough, skeptical and extremely practical in its review." -Daniel J. Fuss Vice Chairman Loomis, Sayles & Company, LP

Roger Murray (1911–1998) was a crucial figure in the history of value investing. A financial professional, economist, adviser to members of Congress, and educator, Murray was the successor to the legendary Benjamin Graham as professor of the securities analysis course at Columbia Business School. There, he mentored generations of students, including Mario Gabelli, Charles Royce, Leon G. Cooperman, and Art Samberg. This book offers a compelling account of Murray’s multifaceted career alongside a series of remarkable lectures he gave late in his life that encapsulated his philosophy of investing. The investing professionals and educators Paul Johnson and Paul D. Sonkin chronicle Murray’s life and accomplishments, capturing his professional triumphs, theoretical insights, and lasting legacy. They highlight Murray’s educational philosophy and mentorship, including personal recollections from his students about his teaching and influence. The Enduring Value of Roger Murray features the transcripts of four lectures Murray gave in 1993, hosted by Gabelli, which became legendary in the investing community. These lectures inspired Bruce Greenwald to ask Murray to co-teach a security analysis course, leading to the resurrection of value investing education at Columbia Business School, which had waned after Murray’s retirement in 1977. Annotated by Johnson and Sonkin, these lectures are now available to a wide audience for the first time. They will be illuminating and instructive for all value investing students and practitioners today.

Effective Physical Security, Fifth Edition is a best-practices compendium that details the essential elements and latest developments in physical security protection. This new edition is completely updated, with new chapters carefully selected from the author's work that set the standard. This book contains important coverage of environmental design, security surveys, locks, lighting, and CCTV, the latest ISO standards for risk assessment and risk management, physical security planning, network systems infrastructure, and environmental design. - Provides detailed coverage of physical security in an easily accessible format - Presents information that should be required reading for ASIS International's Physical Security Professional (PSP) certification - Incorporates expert contributors in the field of physical security, while maintaining a consistent flow and style - Serves the needs of multiple audiences, as both a textbook and professional desk reference - Blends theory and practice, with a specific focus on today's global business and societal environment, and the associated security, safety, and asset protection challenges - Includes useful information on the various and many aids appearing in the book - Features terminology, references, websites, appendices to chapters, and checklists

This volume brings together the expertise of more than 40 security and crime prevention experts. It provides comprehensive coverage of the latest information on every topic from community-oriented policing to physical security, workplace violence, CCTV and information security.

Behavior Analysis and Learning, Fifth Edition is an essential textbook covering the basic principles in the field of behavior analysis and learned behaviors, as pioneered by B. F. Skinner. The textbook provides an advanced introduction to operant conditioning from a very consistent Skinnerian perspective. It covers a range of principles from basic respondent and operant conditioning through applied behavior analysis into cultural design. Elaborating on Darwinian components and biological connections with behavior, the book treats the topic from a consistent worldview of selectionism. The functional relations between the organism and the environment are described, and their application in accounting for old behavior and generating new behavior is illustrated. Expanding on concepts of past editions, the fifth edition provides updated coverage of recent literature and the latest findings. There is increased inclusion of biological and neuroscience material, as well as more data correlating behavior with neurological and genetic factors. The chapter on verbal behavior is expanded to include new research on stimulus equivalence and naming; there is also a more detailed and updated analysis of learning by imitation and its possible links to mirror neurons. In the chapter on applied behavior analysis (ABA), new emphasis is given to contingency management of addiction, applications to education, ABA and autism, and prevention and treatment of health-related problems. The material presented in this book provides the reader with the best available foundation in behavior science and is a valuable resource for advanced undergraduate and graduate students in psychology or other behavior-based disciplines. In addition, a website of supplemental resources for instructors and students makes this new edition even more accessible and student-friendly (www.psypress.com/u/pierce).