This webpage provides links to reading material for
Security Analysis .

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Here are some interesting items, magazine and journal articles to ponder:

General Articles
Defining Risk from the Financial Analysts Journal (Nov/Dec 2004)
How Business Schools Lost Their Way from the Harvard Business Review (May 2005)
History of the Cash Flow and Funds Flow Statements
History of US Public Debt, 1861-1975 A much needed perspective on US Treasury debt markets.
The Markets Still Defy Technical Analysis A Financial Post piece that captures the basic points of the philosophy of investment.
Dennis Gartman's 22 Rules of Trading A useful collection of trading tips (thanks Linda).
Warren Buffett on the Stock Market from Fortune Dec 10/01.
A Primer on Warren Buffett
"Net Worth" From the New Yorker on the importance of sorting out employee vs. shareholder objectives (thanks Ali).
A brief Overview of Free Cash Flow
An overview of sinking funds.
A popular listing of the top ten investment classics
History of the cash flow statement
Records of the Tontine Coffeehouse

Articles on Security Analysis
Stickney on Academics and Securities Research from the Journal of Financial Statement Analysis (1997).
Using the Residual Income Stock Valuation Model from the Issues in Accounting Education (2001)
Value of Skill in Security Selection from the Journal of Portfolio Management (Fall 2000).
EVA for Investment Management from the Journal of Portfolio Management (1996).

The Impact of Convexity
The Benter the Better From the Financial Analysts Journal (1988) illustrating the optimism about convexity.
Is Benter Better? A 1990 note from the Financial Analysts Journal cautioning about the drawbacks of convexity.
Is Bond Convexity a Free Lunch? More on bond convexity, Journal of Portfolio Management (1997).
Some Common Misunderstanding about Duration and Convexity from the Journal of Applied Finance.
A Continuous Time Derivation of Time Value Makes the connection to force of interest from actuarial science.
Duration of Mortgage Backed Securities from Journal of Financial Research (1993)
Can You Derive Market Volatility Forecasts from the Observed Yield Curve Convexity Bias? from the Journal of Fixed Income (1997).

Articles on OAS and Option Bonds
The Putable Bond Market from Journal of Fixed Income (1997).
Pitfalls in the Analysis of Option Adjusted Spreads from the Financial Analysts Journal.
Option Adjusted Spread Analysis: Going Down the Wrong Path? from the Financial Analysts Journal (1994)
On the Origin and Interpretation of OAS Kupiec and Kah from Journal of Fixed Income (1999)
Prepayment Risk and Option-Adjusted Valuation of MBS from Journal of Portfolio Management (2005).

MBS and Mortgage Prepayment
Peristiani on prepayment risk , from Journal of Fixed Income (2003)
Peristiani on Mortgage Refinancings from Journal of Fixed Income (1997)
An article MBS and market disruptions from Feb/07
Implosion of the Alt-A mortgage backed securities market from the Journal of Risk Management in Financial Institutions (2009)
Re-REMICs: New and Improved from the Journal of Fixed Income (2010)

Default Risk Articles
For recent and historical data on default risk see the excellent paper by Altman and Bana Altman is arguably the leading authority on credit and default risk.

Bankruptcy Laws
Report on the BIA and CCAA in Canada Prepared by the Corporate Law Section of Industry Canada (2002) Appendix B has the priority of claims.
A link to the US Bankruptcy Code
Text of US Chapter 7, Sec. 507 on Priority of Claim
Text of US Chapter 7, Sec. 726 on Disposition of Estate
Problems with the Recent Reforms of the US Bankruptcy Laws in 2005 from the American Bankruptcy Law Journal (2005)
On the Academic Debate over the Absolute Priority Rule from Financial Management (2000)


Other Downloads
Chapter 6 from the 'Early History of Financial Economics' Contains a discussion on the 17th and 18th century contributions to life annuity pricing.