Well I finished the first edition. The difference between it andthe fifth edition is as that between lightning and the lightning bug.It is extremely readable and not really that dated. It does coverpreferred shares in great detail (and concludes that they haveall the bad features of both bonds and common stocks) and goesinto bonds in great detail (which is good, I need to start buyingsome) but still covers a lot of useful stuff on companies and commonstocks.By the way, this first edition is not a hard book to read.Anyone that reads at the high school level and can do algebracan understand everything in it. G & D are quite lively writersand the book flows well. I recommend this book highly!Chris - margin of safety is our watchword
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