This collection of writings centers on value investing, a strategy championed by Benjamin Graham and David Dodd that emphasizes analyzing securities to find those trading below their intrinsic value.

It explores core principles like margin of safety, understanding a company's earnings power value and asset value, and the importance of a sustainable competitive advantage or "franchise."

The text examines how investor biases can create opportunities for value investors and critiques common valuation methods like discounted cash flow analysis, offering alternatives.

Through profiles of prominent value investors such as Warren Buffett, Seth Klarman, and Mario Gabelli, the sources illustrate diverse practical applications of these principles across different market conditions and investment styles, highlighting the need for discipline, patience, and focus within one's circle of competence.