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Devoted to the study and modernization of the theories of Benjamin Graham and Warren Buffett.

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Sunday, February 19, 2017

MG Book Club

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What is the ModernGraham Book Club?

The ModernGraham Book Club is a community where value investors can come together each week to discuss and learn as a group about investing.  This is a place you can come to find good books, good insight, and good conversation.  Hopefully as you participate you will learn more about value investing and other related topics.

Who can participate?

Anybody can participate, regardless of investing knowledge.  The ModernGraham Book Club is intended to be suitable for investors of all levels.  If you don’t know a single thing about investing, or if you are a hedge fund manager with years of experience, you are welcome to participate.  In fact, the more diversity in knowledge levels, the greater the experience will be for all.  Oh, and the whole thing is free to participate.  No purchase necessary, though you may find it a little more useful if you purchase the books.

How often will we discuss?

Every Sundays, there will be a post on ModernGraham.com where the discussion leader will give thoughts on the reading for that week, and readers are encouraged to participate in the discussion by commenting on the post.  The weekly readings will be fairly short, so if you miss a week or two it will be easy to catch up.

What are some other ways to participate?

If you are a blogger, you can give your thoughts in a post on your own site, link to the discussion here on ModernGraham, and I will be sure to let our readers know that the conversation is going on over at your site as well.

In addition, you can use the hashtag #MGBookClub in social media to talk about the book on Twitter or Facebook!

What are we Reading?

Series 1: The Intelligent Investor by Benjamin Graham (affiliate link)

  1. Introduction: What This Book Expects to Accomplish – February 17, 2014
  2. (Chapter One) Investment versus Speculation: Results to Be Expected by the Intelligent Investor – February 24, 2014
  3. (Chapter Two) The Investor and Inflation – March 3, 2014
  4. (Chapter Three) A Century of Stock-Market History: The Level of Stock Prices in Early 1972 – March 10, 2014
  5. (Chapter Four) General Portfolio Policy: The Defensive Investor – March 17, 2014
  6. (Chapter Five) The Defensive Investor and Common Stocks – March 24, 2014
  7. (Chapter Six) Portfolio Policy for the Enterprising Investor: Negative Approach – March 31, 2014
  8. (Chapter Seven) Portfolio Policy for the Enterprising Investor: The Positive Side – April 7, 2014
  9. (Chapter Eight) The Investor and Market Fluctuations – April 14, 2014
  10. (Chapter Nine) Investing in Investment Funds – April 21, 2014
  11. (Chapter Ten) The Investor and His Advisers – April 28, 2014
  12. (Chapter Eleven) Security Analysis for the Lay Investor: General Approach – May 5, 2014
  13. (Chapter Twelve) Things to Consider About Per-Share Earnings – May 12, 2014
  14. (Chapter Thirteen) A Comparison of Four Listed Companies – May 19, 2014
  15. (Chapter Fourteen) Stock Selection for the Defensive Investor – May 26, 2014
  16. (Chapter Fifteen) Stock Selection for the Enterprising Investor – June 2, 2014
  17. (Chapter Sixteen) Convertible Issues and Warrants – June 9, 2014
  18. (Chapter Seventeen) Four Extremely Instructive Case Histories – June 16, 2014
  19. (Chapter Eighteen) A Comparison of Eight Pairs of Companies – June 23, 2014
  20. (Chapter Nineteen) Shareholders and Managements: Dividend Policy – June 30, 2014
  21. (Chapter Twenty) “Margin of Safety” as the Central Concept of Investment – July 7, 2014

Series 2: Business Adventures: Twelve Classic Tales from the World of Wall Street by John Brooks (affiliate link)

  1. First Impressions of the Book – September 13, 2015
  2. (Chapter One) The Fluctuation – September 20, 2015
  3. (Chapter Two) The Fate of the Edsel – September 27, 2015
  4. (Chapter Three) The Federal Income Tax – October 4, 2015
  5. (Chapter Four) A Reasonable Amount of Time – October 11, 2015
  6. (Chapter Five) Xerox Xerox Xerox Xerox – October 18, 2015
  7. (Chapter Six) Making the Customers Whole – October 25, 2015
  8. (Chapter Seven) The Impacted Philosophers – November 1, 2015
  9. (Chapter Eight) The Last Great Corner – November 8, 2015
  10. (Chapter Nine) A Second Sort of Life – November 15, 2015
  11. (Chapter Ten) Stockholder Season – November 22, 2015
  12. (Chapter Eleven) One Free Bite – November 29, 2015
  13. (Chapter Twelve) In Defense of Sterling – December 6, 2015

12 Responses “MG Book Club”

  1. Mark
    March 30, 2014 at 1:31 pm

    I am having trouble finding the link to Chapter 5? Can some one help me with this?

  2. Richard
    April 4, 2014 at 9:27 am

    Ben,
    Chapter 6 discussion has no active link above. Am I just trying to comment too soon?

    • April 4, 2014 at 9:41 am

      Richard, Thanks for the reminder! The link has now been added.

  3. Richard
    April 9, 2014 at 12:58 pm

    Ben,
    This is your reminder to activate the link to chapter 7.

    • April 9, 2014 at 1:02 pm

      LOL. Thanks, Richard. It’s updated now. One of these weeks I’ll remember to put the link here on Monday.

  4. Richard
    July 1, 2014 at 11:26 am

    Ben,
    Thanks for encouraging me to read the Intelligent Investor again. I got more out of this reread than I thought I would have. The chapter-a-week pace was an excellent incentive to keep me reading and not let life’s distractions slow me down. I hope you are you planning to begin another book upon completion of the Intelligent Investor. If so, and given a chance to voice opinion, my vote would be: Security Analysis by Graham and Dodd. Thanks again.
    Richard

  5. Richard
    July 1, 2014 at 11:28 am

    P.S. Remember to activate the link to chapter 19.

  6. Eduardo Freitas
    August 26, 2014 at 6:42 pm

    Hi there!

    Nice site! Can you add the links for the last two chapters? Are you considering other books?

    Best Regards,

    Eduardo

  7. November 22, 2015 at 6:32 am

    Greetings, could you please direct me to the Book Club comments/links for Chapters 4-10 of Business Adventures.
    Thank you

    • November 24, 2015 at 4:58 pm

      RH – The Business Adventures discussions have been put on hold for now as we didn’t get enough of a response for discussions.

      • rh
        November 25, 2015 at 4:42 am

        Hi Ben, it was the chapter about the IRS that did ’em in…almost didn’t get through it myself…whew, glad that one’s done, rest of the book is good..too bad discussion is on hold. Hope you’ll do another.
        Appreciate all you do, best to you. Thanks.

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