The Intelligent Investor

quite a good book, also as a study of history.

Again, if you know about the whole concept of Value investing and Margin of safety. so here's the thing, если знаете, then a book (как и Security Analysis) not too systematized. ie. if you prefer a top-down approach (in this case, in the process of acquiring knowledge), it will not be so super-duper interesting. but for general development, very even. well and again, so they don't look sideways at you (how did you not read our bible!!, uuu, what kind of reader are you then ..), also worth reading.

By the way, I, as a supporter and propagandist of the idea that, what the market – this is a show, and then everything else, from the very beginning there was a concept of Margin of safety, even before I really knew DCF;) the point was, that we extrapolate the average cash flow for x-t years into x + t years (in real terms and see what we get) if such a target price is somehow comparable to the current one or even higher – super, if not, we begin to doubt the vision of the future. ie. we look at what growth discounts the market and whether we believe in its stability. offensive, what (as it always is) everything was invented long before me. although in 07-08 no one liked this approach;)

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