Preview. Written from general knowledge to guide your reading. It's replaced by full study notes once you record this chapter.
What to listen for
- Convertible bonds, convertible preferreds and warrants. Graham is generally skeptical of them for ordinary investors.
- Warrants in particular dilute shareholders and serve speculation.
- This is the closest the book gets to options. It's consistent with this project's 'no options' choice.
- Zweig updates it for modern convertibles.
Record this chapter
Read it (and Zweig's commentary) aloud, or record your own takeaways afterwards. Then upload the file as ch16.m4a (or ch16-part2.m4a, ch16-commentary.m4a, ch16.txt) to your private ruleone-library repo.