First, I'd definitely recommend just putting your money in various index funds. Individual stocks are no place for individual investors, as a general rule.
If you're still interested in playing around in the market, the one book I'd recommend (even over Graham's) is
Expectations Investing by Rappaport and Mauboussin. You'll need some finance background to soak it up, but you shouldn't be wading into investing in individual stocks without finance knowledge anyways.
Expectations Investing will help you get away from all the p/e-type crap and look at how and why stocks are valued the way they are.
EDIT: As far as Yao's book, I thought it was only OK. Lots of people (HUSHers especially, obviously) say that the best part of the book is the SH section, but I didn't really find that much that I haven't read here.