No. of Recommendations: 0
I'm currently six chapters into the fifth edition, and it
is heavy sleding. Not because it is all that hard to understand,
but the writing really doesn't seem to flow. I will report back
when I finish it.

I plan to get a copy of the third edition and try that and see
how it compares. I've read The Intelligent Investor, and that
reads pretty well, so I think that Graham was a more interesting
writer than the folks who took it over.

Chris
There is a writer over at Legg Mason that is fabulous to read.
More later.
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No. of Recommendations: 1
The fifth edition was not written by Benjamin Graham. I personally would stop reading it and go pick up a copy of the 2nd or 3rd edition ASAP.
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No. of Recommendations: 0
Well, I finished the fifth edition. It is kinda schizophrenic.
Some chapters are almost incomprehensible. Others are very
good. The book as a whole is kinda fragmented. I put this down
to the three authors not re-editing to find one authorial voice.

While I was reading the fifth edition I nailed a reprint copy
of the first edition on eBay and have started into that. The
first chapter (all I read last night) is a much better read
than the first chapter of the fifth edition.

Chris - got a pretty good book on Buffett at the used book store.
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No. of Recommendations: 5
Well I finished the first edition. The difference between it and
the fifth edition is as that between lightning and the lightning bug.
It is extremely readable and not really that dated. It does cover
preferred shares in great detail (and concludes that they have
all the bad features of both bonds and common stocks) and goes
into bonds in great detail (which is good, I need to start buying
some) but still covers a lot of useful stuff on companies and common
stocks.

By the way, this first edition is not a hard book to read.
Anyone that reads at the high school level and can do algebra
can understand everything in it. G & D are quite lively writers
and the book flows well.

I recommend this book highly!



Chris - margin of safety is our watchword
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