Value Investing

How to read financial statements sceptically and value bonds and stocks.

Treat stocks as parts of businesses and buy only with a margin of safety.

Avoid permanent loss: buy well below value and aim for absolute returns.

Buy a few outstanding growth companies, research them by scuttlebutt, and hold.

Second-level thinking on risk and cycles, with notes by Klarman and Greenblatt.

Buying securities to profit from changes in value, with twelve commandments.

The methods of nine great investors, including Buffett, Graham, Fisher and Templeton.

An early account of Buffett's investing method, from 1987.

The amateur's edge argument from the Magellan record.

Where to find mispriced stocks: spinoffs, mergers, bankruptcies and restructurings.

Data showing that low-expectation stocks beat popular ones over the long run.

The reasoning that links Graham's analysis with Buffett's use of it.

Wiley published it in 2020.

Buffett's method as tests of the business, its managers, its finances and price.

Value investing joined with behavioural finance, from a strategist's research notes.

The magic formula: buy cheap stocks with high returns on capital, mechanically.

Includes a long Dalio interview predating the Principles publicity machine.

Templeton's method: buying at the point of maximum pessimism worldwide

How to test whether reported earnings reflect reality, from tax books to receivables.

Dividend yield as a valuation gauge; the original of the school.

A fund manager of sixty years on investing, business and a long life.

How to find companies whose reported results hide their true condition.

Profiles of exceptional investors: their backgrounds, methods and records.

Buffett's approach set out as tenets for judging businesses, managers and prices.

The tricks companies use to inflate earnings, cash flow and key metrics, by case.

Morningstar primer on analysing businesses sector by sector.

Updates Graham and Dodd's valuation method for modern financial statements

Client letters through the dot-com bubble; value discipline written contemporaneously

Tweedy Browne's distilled version of the Graham method.

Katsenelson on buying and selling inside range-bound markets.

The explicit argument for cloning rather than originating ideas.

How Templeton bought maximum pessimism across global markets.

How to spot a durable economic moat from public information, and what isn't one.

Shorter restatement of active value investing for flat markets.

Gray and Carlisle test value screens with quantitative evidence.

Wiley edition confirmed elsewhere.

Traces the method from Graham through Icahn to the acquirer's multiple.

Spier on the psychology and habits behind durable value investing.

Miller reconstructs Buffett's partnership-era rules and results.

Stock prices follow a random walk, so a low-cost index fund beats stock picking.

Cycles can't be timed, but knowing where you stand in one lets you adjust risk.

Speeches making the case for a latticework of mental models from many fields.

Decision rules from building Bridgewater: radical truth and radical transparency.

Berkshire's shareholder letters arranged by topic: governance, valuation, mergers.

After costs, most investors trail the market, so hold a low-cost index fund.

Second-level thinking, risk and market cycles, drawn from Oaktree's client memos.

Twenty short essays on why behaviour matters more than knowledge with money.

Buffett's life to 2008, written with full access to his files and his friends.

Graham's method restated for beginners

The history of business cycle theory and how credit cycles drive asset prices.

Plain-language guide to reading the three financial statements.

Sprawling, repeatedly expanded compendium of Buffett material.

Interviews with twelve of Canada's top money managers on how they pick stocks.

The long-run trends set to reshape economies and markets over the coming decades.

Seventy questions to ask before buying any business.

Step-by-step attempt to replicate Buffett’s selection process.

Where small-cap and special-situation ideas actually come from.

How to find undervalued stocks, build a value portfolio, and time buys and sells.

Personal account of learning value investing from scratch.

Fortune's articles by and about Buffett from 1966 to 2012, with commentary.

Tweedy Browne survey of empirical studies supporting value factors.