The Secret of Sound Investment

In 1990, even before the recession dealt its blows, the financial side became dark with the bodies of fallen corporations. The disciples of debt assured us that this collapse wouldn't happen- huge debt would cause operating managers to focus their efforts as never before. In the final chapter of the intelligent investor, Ben Graham forcefully rejected the dagger thesis. There was a flaw in the sales and logic, one that a first year student in statistics is taught to recognize.