1. There are many different ways you could approach investing. In my limited knowledge though, you simply won’t find a better investing framework than Ben Graham’s.
2. You will find Peter Lynch’s investment framework highly accessible. If you are just beginning, you could start your journey with his book One Up on Wall Street. He explains the qualitative part very well. Sadly, the quantitative part is sketchy.
3. You will be surprised to know that the Discounted Cash Flow is actually a qualitative method in Grahamian terms. Why? Because, at the heart of DCF is trend or future growth, which is essentially a qualitative factor expressed quantitatively.
4. My friend Taha Merchant is right. Buying Hero Honda at 18x to 20x earnings is speculation. Though he should call it ‘intelligent speculation’ :-).
5. You’ll have to add to the picture to get Ben Graham’s complete framework. The missing component is the analysis of ‘Margin of Safety’. That further splits into market price (its factors) and intrinsic value (its factors).