Margin of Safety

Acknowledgments

Introduction

I. Where Most Investors Stumble

1. Speculators and Unsuccessfule Investors

2. The Nature of Wall Street Works Against Investors

3. The Institutional Performance Derby: The Client Is the Loser

4. Delusions of Value: The Myths and Misconceptions of Junk Bonds in the 1980s

II. A Value-Investment Philosophy

5. Defining Your Investment Goals

6. Value Investing: The Importance of a Margin of Safety

7. At the Root of a Value-Investment Philosophy

8. The Art of Business Valuation

III. The Value-Investment Process

9. Investment Research: The Challenge of Finding Attractive Investments

10. Areas of Opportunity for Value Investors: Catalysts, Market Inefficiencies, and Institutional Constraints

11. Investing in Thrift Conversions

12. Investing in Financially Distressed and Bankrupt Securities

13. Portfolio Management and Trading

14. Investment Alternatives for the Individual Investor

Glossary

Bibliography

Index

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