Such a wide diversification may seem excessive for most investors, but with such low-priced stock there were evidently going to be a few bankruptcy candidates. Graham considered this strategy to be suitable for what he called "defensive" investors. He did acknowledge, however, that there were some "enterprising" investors who could afford to be more aggressive from point of view of risk. To this end, he suggested a series of less onerous criteria for selecting stocks which is outlined below.

First, list all stocks with Price/Earnings ratios below 9. Note: Graham was writing in 1970 when P/E's as a whole were not as elevated by technology stocks as they are today. Readers who are less risk-averse or who just want to consider a wider range of stocks may wish to vary P/E in order to see what comes up -- perhaps up to 80 percent of average P/E of S&P 500 would be a good start. Currently operating average is around 18 and 85 percent of that figure is just over 15. Graham did not state if he was using a Trailing or Forward P/E ratio, but most likely he was using Trailing P/Es. I personally prefer to use Forward P/E ratios, especially if they are significantly lower than Trailing P/E as this implies expected earnings growth and therefore possible increase in stock price.

Alas, it's not possible to prevent identity theft and credit fraud entirely. However, by managing your personal information carefully, and with a full understanding of its importance, you can substantially reduce likelihood that it will happen to you. The following tips show you how to prevent identity theft.

One Step Up on Identity Thieves

Be careful about giving out personal information. Whether on phone, by mail, or on Internet, prevent identity theft and never give anyone your card number, Social Security number, or other personal information for a purpose you don't understand. Ask to use other types of identifiers when possible, and don't carry your SSN card. Be sure to keep it in a secure place.

Protect your mail. To stop a thief from obtaining personal information( stealing identity) about you by going through your through trash or recycling bin, tear or shred your charge receipts, credit applications, insurance forms, bank statements, expired charge cards, and preapproved credit offers. Deposit outgoing mail in post office collection boxes or at your local post office. Remember to remove mail from your mailbox after it's delivered. If you plan to go away, call U.S. Postal Service at 800-275-8777 and request a vacation hold.

Guard your credit cards. Minimize information and number of cards you carry in your wallet. If you lose a card, contact identity theft protection division of credit card company. If you apply for a new credit card and it doesn't arrive in a reasonable period, contact issuer. Watch cashiers when you give them your card for a purchase. Also, when you receive a new card, sign it in permanent ink and activate it immediately.

Pay attention to billing cycles. Contact creditors immediately if your bills arrive late. A missing bill could mean an identity thief has taken over your credit card account and changed your billing address.