Value Investing Made Easy

Lowe, who wrote several books about Benjamin Graham including a biography and an edited collection of his writing, presents Graham's investment method in simplified form for readers who find Security Analysis and The Intelligent Investor too demanding.

The content is Graham's: the distinction between investment and speculation, the margin of safety, the market as a manic-depressive business partner whose quotations you may accept or ignore, net current asset value as a floor, the defensive and enterprising investor categories with their different criteria, and the specific quantitative screens Graham published for earnings stability, dividend record, balance sheet strength and price relative to earnings and book value. Lowe also covers Graham's own record, his teaching, and his late-career position that the market had become efficient enough that the detailed analysis he had taught was no longer worth doing for most securities.

The reference has not verified the specific screen thresholds and worked examples as presented in this edition. The book's role is as a simplification, and readers who can manage the original should read The Intelligent Investor instead, which is not difficult and which contains Graham's own reasoning rather than a summary of it. Lowe's contribution is accessibility and her knowledge of Graham's biography, not new analysis. The 1996 publication also means the market data and examples are from a period whose valuations and accounting differ substantially from the present.

American financial journalist and biographer of Charlie Munger, Benjamin Graham, Warren Buffett and Bill Miller.

Damn Right! is the standard full-length life of Charlie Munger, built from interviews with Munger, his family and his partners, and the Graham volumes put writings and lectures that had gone out of print back in circulation. The books supply the biographical record behind quotations that circulate everywhere else without sources.