The Intelligent Investor: The Definitive Book on Value Investing by Benjamin Graham; Jason Zweig

Author:Benjamin Graham; Jason Zweig
Language: eng
Format: mobi, epub, pdf
Tags: Investments & Securities, Finance, Investing, Marché Financier, Securities, Personal Finance, Investissements, Investments, Business & Economics
ISBN: 9780060555665
Publisher: HarperCollins
Published: 1985-01-02T00:00:00+00:00

Size is more than ample for each company.

Financial condition is adequate in the aggregate, but not for every company.2

Some dividend has been paid by every company since at least 1940. Five of the dividend records go back to the last century.

The aggregate earnings have been quite stable in the past decade. None of the companies reported a deficit during the prosperous period 1961–69, but Chrysler showed a small deficit in 1970.

The total growth—comparing three-year averages a decade apart—was 77%, or about 6% per year. But five of the firms did not grow by one-third.

The ratio of year-end price to three-year average earnings was 839 to $55.5 or 15 to 1—right at our suggested upper limit.

The ratio of price to net asset value was 839 to 562—also just within our suggested limit of 1½ to 1.

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