Value Investors Must Read List

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Below is a selection of some of the most informative and timeless value-orientated research and data available online. Some of the documents below data back to the 1930's, when value investing was in its infancy. 

This list is a condensed version of the larger 'Timeless Reading' page, which can be found at the top of this page. Timeless reading contains thousands of hours of valuable reading material.

All the resources on both pages are completely free so enjoy! We update this site frequently both when We find old documents, and when new documents are published. So make sure to come back frequently.


The Superinvestors - Columbia Business School [PDF]
A transcript of a talk given at Columbia University in 1984 commemorating the fiftieth anniversary of Security Analysis, written by Benjamin Graham and David L. Dodd. This specialized volume first introduced the ideas later popularized in The Intelligent Investor. Buffett's essay offers a fascinating study of how Graham's disciples have used Graham's value investing approach to realize phenomenal success in the stock market.


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Tweedy Browne logo Value Investors Must Read List
Value Investors Must Read List

Here's a small sample of the resources available on the Tweedy, Browne website. For any readers interested in the funds, or value investing in general, I recommend heading over to http://www.tweedy.com/research/papers_speeches.php where you can find plenty of informative additional material, including:


 

Royce funds
Value Investors Must Read List

A small sample of the resources available on The Royce Funds website, another key resource for value investors with a focus on small-caps.


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Value Investors Must Read List

Literature from Davis Funds, the investment manager started by the legendary value investor Shelby Cullom Davis.


 

Value Investors Must Read List
Value Investors Must Read List

Research from The Brandes Institute.


 

Benjamin Graham


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Charlie Munger


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Warren Buffett

Value Investors Must Read List  - A selection of interesting research papers

AlphaArchitect - everything they write but here are three of the best posts

What Do Financial Economists Have to Say About “Value”?
via Columbia University. This article destroys the efficient market theory.

Buffett's Alpha - Yale University
Exploring the factors behind Buffett’s success

Value Investing: The Use of Historical. Financial Statement Information to Separate Winners from Losers
Excellent research paper by Joseph Piotroski regarding the out performance of value stocks over time.

“Value Investing Retrospective” Heilbrunn Center for Graham and Dodd Investing Research Project (2006).
A must read 50 page free book that shows how value outperforms internationally and over almost every time period. Dubinsky, Andrew.

“Value versus growth: The international evidence” Journal of Finance 53 (1998): 1975–1999.
Fama, Eugene and Kenneth R. French.

July 7, 2010 blogger Adib Motiwala posted this good summary Lessons from “The Little Book of Behavioral Investing” by James Montier.

Graham and Doddsville Newsletter Archives

Full list of papers: French, Kenneth R.'s Scholarly Papers

Eugene Fama Resource Page

Aswath Damodaran Blog Musings on Markets

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