299–301; of value stocks,
451–52n;vogue of, 4. See also
“beating the market/average”;
specific company or type of
security
performance funds, 228, 228n,
232–37
Performance Systems Inc., 463
Perimeter (Stan) Investments, 545,
557
periodicals: as source of advice,
257–58, 258n
Perot, H. Ross, 266n
Petersburg Paradox, 570
Pfizer, Inc., 167n,247, 373
Philadelphia Electric Co., 357
Philip Morris, 175n
Pickens, T. Boone, 488n
Piecyk, Walter, 41
Pier 1 Imports, 216
Pimco, 110
Pinault-Printemps-Redoute Group,
469 n
Plato, 251
Plexus Group, 42, 149n
Polaroid, 234, 392
portfolio: for aggressive investors,
101, 133–44, 145–54, 155–78,
179–87, 376–95; autopilot,
128–29, 130–32, 223; basic
characteristics of, 89; changes
to, 117; chaotic, 273; as
combination of active and
passive ways of investing, 102;
and common stocks, 112–23,
124–32; for defensive investors,
89–100, 101–11, 112–23, 124–32,
337–38, 347–66; Graham’s
concept of appropriate
individual, 18–34; inflation and,
47–57; “laddered,” 106n;market
fluctuations and, 195–97;
negative approach to
development of, 133–44, 145–54;
100– stock, 105; overview about,
1–11; own corporation stock in,
126–27; positive approach to
development of, 155–78, 179–87;
rebalancing of, 104–5, 180n,197,
219; vodka-and-burrito, 148. See
alsoasset allocation; selection,
stock
portfolio trackers, 117n, 397
Posner, Victor, 429n
PPG Industries, 373
“pre-emptive right,” 414
precious metals, 55, 55–56n
predictions. Seeforecasting
preferred stock: and aggressive
investors, 98, 133, 134–37, 134n,
139, 140, 142, 166, 173, 176–77,
381; and balanced funds, 241;
and bargains, 166, 173; and
convertible issues and
warrants, 404, 405, 406, 406n,
412, 415, 417; and defensive
investors, 89, 98–99, 100, 108–9,
111, 121, 176, 365; dividends on,
98–99, 99n, 134 n, 285 n,323, 404,
516; and Graham’s business
principles, 523; and inflation,
48; and investment funds, 241;
and margin of safety, 512, 513,
516, 520; and new offerings,
140, 142, 405; and per-share
earnings, 318, 323; price
fluctuations in, 210–11; price
record of, 405, 406; ratings for,
210; recommended “coverage”
for, 284; and risk, 283–87; and
security analysis, 281, 283–87,
293–94, 308; as senior stock
issues, 285n;switches between
common and, 411–13; yield on,
573.See also specific company
price: and advice, 261; and
bankruptcy, 423n;Buffet’s
comments about, 540–41;
calculation of true market, 416;
and comparison of four listed
companies, 330–38, 334n, 337 n;
and convertible issues and
warrants, 405, 406, 415, 416;
decline in common stock, 3; ofIndex 613