Amazon.ca:Customer reviews: Security Analysis: Sixth Edition, Foreword by Warren Buffett

Top positive review

Cuts through the noise

Reviewed in Canada 🇨🇦 on January 27, 2023

Well, I bought this book on sale at ~$65 and it’s currently selling for $105 at the time of this review, so I must have learned something!!

All jokes aside, incredibly useful and clear. A must read.

Top critical review

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Beman Coulibaly

I've been a bit disappointed, It is all about numbers and numbers

Reviewed in Canada 🇨🇦 on December 16, 2016

I've been a bit disappointed,
It is all about numbers and numbers,
Gets boring at the end

One person found this helpful

1,367 total ratings, 305 with reviews

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From Canada

Jamie Melnyk

Cuts through the noise

Reviewed in Canada 🇨🇦 on January 27, 2023

Reviewed in Canada 🇨🇦 on January 13, 2023

Verified Purchase

Five stars

One person found this helpful

Helpful

shawn

Doesn't apply to modern investing

Reviewed in Canada 🇨🇦 on June 12, 2016

Verified Purchase

Bonds vs Common Stock:
This book is considered the bible of value investing, but it doesn't seem to apply to modern investing. This book was written at a time when money was backed by gold, inflation was transient (the book actually uses the word "transient" to describe inflation), and bond investing was the way to go. I don't even think the SEC existed when this book was written. Very little attention is paid to common stock investing because common stocks were crazy investments at that time. Companies were not transparent about their earnings or balance sheets, so it was like betting on horse racing. A prudent investor cared more about bonds, so this book's focus is bonds.

Preferred Stock:
The book also spends a lot of time talking about preferred shares. In today's crazy world of money printing and negative interest rates, those simply don't make sense as investments. Preferred shares typically work with a 5 year rate reset, and the rate is tied to some government benchmark rate. When interest rates go negative due to central planners ruining our economy, this also brings down the yield on preferred shares. Since preferred shares combine the worst aspects of bonds with worst aspects of stocks, the preferred shares also crash in value when the yield drops (in contrast to bonds which rise in value).

Overall, the book is almost useless. The stuff about bonds no longer applies since central planning has gone insane. The stuff about preferred shares no longer applies because they too are affected by central planning. The stuff about common shares doesn't apply because the tools we use to analyze common shares basically didn't exist when the book was written. Companies were not required to issue cash flow statements until 1987; that's more than 50 years after this book was written.

11 people found this helpful

Helpful

Vadim Bach

Worth its weight in gold

Reviewed in Canada 🇨🇦 on September 30, 2020

Verified Purchase

One of the classics - a must read! And for a good reason.

The book spends a great deal of time talking about all the ins and outs of analyzing companies in great detail. I had a bit of hard time following at times (due to not having the required accounting background) but was still able to derive great value from reading this text. I feel I'd have to read it a couple of more times to really grasp all the concepts though. At the very least I must say the writing in itself is quite eloquent and the ideas are presented in a very masterful manner.

It's definitely a heavy read and is probably ideal for an intermediate-level investor who is really interested in getting into the nitty-and-gritty of how to accurately value companies and spot undervaluation in the marketplace.

4 people found this helpful

Helpful

Cal

Enormous, Dated... Filled with Gems

Reviewed in Canada 🇨🇦 on February 15, 2021

Verified Purchase

I had to read this as it was recommended by so many top investors. It's not an easy book to get through (mainly due to decifering what's dated and what isn't, the updates preceding each section help with this), but there are many, many great insights. It includes tons of examples of things to look out for and most importantly, it provides a way of thinking about investments. The updates are really helpful and written by some super credible investors. Don't get this book unless you're super interested in value investing- if you are, it doubles as a great history lesson.

Helpful

Yuchen Zhao

Great book that can help anyone improve as an investor

Reviewed in Canada 🇨🇦 on August 15, 2019

Verified Purchase

The classic book about investment and the content is really helpful. Part of the content is put into the CD which comes with the book and this is not very convenient as I don't have a CD reader.

Helpful

Scott

value investing, finance, business, invesment, wallstreet

Reviewed in Canada 🇨🇦 on July 13, 2019

Verified Purchase

This is a must read for value investor, good finance, and investment book to read. The quality of product is great, the speed of delivery is top notch, and customer service is great. There is also a CD behind the book. Overall, the content of the book is super valuable, and will always be relevant in the business world.

One person found this helpful

Helpful

john a denton

indepth analytical tools for all investors

Reviewed in Canada 🇨🇦 on August 19, 2018

Verified Purchase

this book will akways be relevant for serious investors, onlt criticism is later editions should identify with some of the new challenges investors are currently facing. it was written mostly for the great depression era but still very relevant today but a little more additional info for todays analysis would be helpful.

2 people found this helpful

Helpful

Samuel Singh

Bible

Reviewed in Canada 🇨🇦 on June 15, 2021

Verified Purchase

Huge, perfect condition, fast delivery. Amazing.

One person found this helpful

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HondaGuy

Pretty much perfect

Reviewed in Canada 🇨🇦 on April 27, 2016

Verified Purchase

Sure, some of the specific examples are a little dated, but the meat of this book is as relevant today as it was when it was written, and will continue to be so for decades to come.

For a value investor, this book is an absolute must-read, and should ever be positioned on the most coveted portion of a bookshelf. It won't just change the way you look at investing; it will change the way you consider many aspects of your life.

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Security Analysis: Sixth Edition, Foreword by Warren Buffett

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Security Analysis: Sixth Edition, Foreword by Warren Buffett

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