Question for those owning Security Analysis 3rd Edition - Graham and Dodd

[awindenberger]

At the recent BH annual meeting, Sardar Biglari mentioned that all shareholders should read pages 610-611 in the 3rd edition to better understand how and why he would continue to buy back shares of the company.

 

I have the 2nd edition, not the 3rd, so I was hoping someone with the 3rd would be so kind to post the contents, or at least the titles of pages 610-611, so i can match in my version.

 

Thanks!

[OracleofCarolina]

I thought he said pages 615-616

[augustabound]

I've got it, but you can go to amazon and search inside the book.

http://www.amazon.com/Security-Analysis-Classic-1951-Edition/dp/0071448209

 

Click the "Look Inside" pic.

Search "Jackson Martindell" and click on page 610.

 

I've read it over once but don't get it.

[netnet]

Not a shareholder in BH or a believer in Biglari, but if in fact he said to read 610-611, that is pretty revealing.  Basically, it says we insiders have our own agenda and the rest of you can f@#K off.

 

"Thus on many counts the insiders are likely to look upon corporate policies in ways diametrically opposed to the interests and desires of the typical outside shareholder..."

 

 

(augustabound, thanks for the search tip, never used it in the years I've been using Amazon and Look Inside.)

[augustabound]

(augustabound, thanks for the search tip, never used it in the years I've been using Amazon and Look Inside.)

 

I only figured that out while trying to help out here. :D

 

But I saw someone post to Twitter that he said 615-616 as OracleofCarolina suggested.

 

I'm also not a shareholder and don't trust Bigliar.

 

pg 616

It follows that the responsibility of managements to act in the interest of their shareholders includes the obligation to prevent -- insofar as they are able to do so by proper corporate measures -- the establishment of either absurdly high or unduly low prices for their securities.

[awindenberger]

Thanks guys, I seem to have gotten the page numbers wrong.

[awindenberger]

(augustabound, thanks for the search tip, never used it in the years I've been using Amazon and Look Inside.)

 

I only figured that out while trying to help out here. :D

 

But I saw someone post to Twitter that he said 615-616 as OracleofCarolina suggested.

 

I'm also not a shareholder and don't trust Bigliar.

 

pg 616

It follows that the responsibility of managements to act in the interest of their shareholders includes the obligation to prevent -- insofar as they are able to do so by proper corporate measures -- the establishment of either absurdly high or unduly low prices for their securities.

 

Amazon doesnt seem to want to allow me to view page 616! So annoying.

[augustabound]

 

Amazon doesnt seem to want to allow me to view page 616! So annoying.

 

I didn't scroll that far yesterday. I must have just been lucky with page 610-611.