“MANY SHALL BE RESTORED THAT ARE NOW FALLEN AND MANY SHALL FALL THAT ARE NOW IN HONOR”: RARE FIRST EDITION OF GRAHAM AND DODD’S SEMINAL SECURITY ANALYSIS, 1934
GRAHAM, Benjamin and DODD, David L. Security Analysis. Principles and Technique. New York: McGraw-Hill, 1934. Octavo, original red cloth. Housed in a custom clamshell box.
Extremely rare first edition, first printing, of Graham’s seminal work, considered the Bible of modern financial analysis, in fine condition.
Few published works of the 20th century have exerted the influence or had as devoted a following as Security Analysis. Prior to its publication, investors often relied on intuition or the character of a business owner to make their decisions. Writing in the wake of the catastrophic stock market crash, Graham and Dodd designed “value-oriented investment,” a disciplined, realistic approach to constructing a solid financial portfolio. Popular when it was published, it continues to shape the strategies and the training of financiers. Copies of the first edition are known to appear both in black cloth binding, with “Whittlesey House— McGraw Hill” in gilt at the foot of the spine, and in red cloth binding, with “McGraw-Hill Book Company” in gilt at the foot of the spine, as with the present copy. No priority of issue has been established; because the book is of exceeding rarity, either binding is equally desirable. Stated “First Edition” on title page, with no mention of printing on copyright page.
A fine, fresh copy.