GAFM GLOBAL ACADEMY OF FINANCE AND MANAGEMENT  ®

Chapter 10: The Investor and His Advisors This chapter focuses on selecting and working with financial advisors. Graham stresses the importance of transparency, objectivity, and a fiduciary duty on the part of advisors.

Chapter 11: Security Analysis for the Lay Investor Graham introduces the concept of financial analysis for lay investors, emphasizing the importance of understanding a company's financial statements.

Chapter 12: Things to Consider About Per-Share Earnings Graham discusses the variability in per-share earnings and the importance of assessing the quality and sustainability of those earnings.

Chapter 13: A Comparison of Four Listed Companies Graham provides detailed case studies of four companies, illustrating how an investor can apply the principles of security analysis.

Chapter 14: Stock Selection for the Defensive Investor Graham provides specific criteria for the defensive investor to consider when selecting stocks, including financial stability and dividend history.

Chapter 15: Stock Selection for the Enterprising Investor For enterprising investors, Graham introduces quantitative analysis tools and qualitative factors for stock selection.

These summaries cover the first 15 chapters of "The Intelligent Investor" by Benjamin Graham. The subsequent chapters delve further into specific investment strategies, principles of bond investing, and advanced topics in value investing and financial discipline.

Chapter 16: Convertible Issues and Warrants In this chapter, Graham discusses convertible securities and warrants as investment options. Convertible securities, such as convertible bonds or preferred stocks, give investors the choice to convert them into common stock. Warrants are similar in that they grant the holder the right to buy common stock at a predetermined price. Graham explains the features and potential advantages and risks associated with these investment instruments.