Security Analysis systematically lays out the foundational principles and techniques of value investing. Initially published in 1934, it develops rigorous methods to evaluate securities by examining balance sheets, earnings, assets, liabilities and cash flows. The work introduces the critical concept of 'margin of safety' - buying securities at a significant discount to intrinsic value to mitigate risk. It distinguishes investment from speculation and emphasises disciplined, fundamental analysis over market sentiment. Fascimile edition of the 1934 book.