The Case for Graham and Doddsville
The current "New York Review of Books", 6/25/98, p. 22 (available in many public libraries, and, for the time being, at least, at: nybooks.com contains an excellent summary and survey of 9 books on investing. The essay is both clear and concise (to a degree I have never succeeded in achieving <grin>) and cites, among others, Security Analysis (1934), The Intelligent Investor (4th Ed.), Stocks For The Long Run (Jeremy Siegel), A Random Walk Down Wall Street (Burton Malkiel), and What Works On Wall Street (James O'Shaughnessy).
The author of the essay, Roger Alcaly, President of CA Partners, comes down squarely in favor of Value Investing, notes that it is still not widely practiced by mutual funds, and makes a case that hanging in with undervalued stocks at a Market top is, in retrospect, less risky than trying to determine that the Market has in fact reached a top. |
