证券分析（下）

his book is the most influential investment book in history. Form its publish in 1934 ,it is still the most interesting book ,and Known as the investor of the Bible. This book is a classic in Wall Street.
Security Analysis is still used as a textbook at Columbia. Security Analysis also represents the genesis of financial analysis and fundamental analysis. However, in the 1970s Graham stopped advocating a careful use of the techniques described in his text in selecting stocks, citing the extensive efforts and costs required to generate superior returns in a modern efficient market. Instead, Graham later suggested the use of one or two simple criteria to the investor's entire portfolio, focusing on results of the group rather than on individual securities.