This is the third article in a series of tutorials about post-modern security analysis. The economics of security analysis Security analysis provides a service for investors (often self-service) that has a cost in terms of the analyst’s time. To make economic sense, this cost must bear a reasonable relationship to the benefits of analysis. […]

On August 12, 2009, the US Federal Reserve indicated that it intended to stay the course, postponing effective action that might ward off high inflation once the Obama “spending is stimulus” money hits the fan. […]

This is the second article in a series of tutorials about post-modern security analysis. Classic “Intrinsic Value” The central concept of classical security analysis is “intrinsic value”. This term is defined as follows in the first chapter of “Security Analysis (1940 Edition)” by Benjamin Graham and David Dodd: […]