Benjamin Graham
| Benjamin Graham | |
|---|---|
Graham reading an edition of Moody's Manual
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| Born |
Benjamin Grossbaum May 9, 1894 London, England, U.K. |
| Died | September 21, 1976 (aged 82) Aix-en-Provence, France |
| Nationality | American |
| Institution |
Columbia University University of California, Los Angeles |
| Alma mater | Columbia University |
| Influenced | |
| Contributions |
Security Analysis (1934) The Intelligent Investor (1949) Benjamin Graham formula |
Benjamin Graham (/ɡræm/; born Benjamin Grossbaum; May 9, 1894 – September 21, 1976) was a British-born American investor, economist, and professor. He is widely known as the "father of value investing," and has written two of the founding texts in neoclassical investing: Security Analysis (1934) with David Dodd, and The Intelligent Investor (1949). His investment philosophy stressed investor psychology, minimal debt, buy-and-hold investing, fundamental analysis, concentrated diversification, buying within the margin of safety, activist investing, and contrarian mindsets.
After graduating from Columbia University at age 20, he moved to New York City to work on Wall Street eventually founding the Graham-Newman Partnership. After hiring his former student and future manager of Berkshire Hathaway, Warren Buffet, he took up teaching positions at his alma mater and the Anderson School of Management of the University of California, Los Angeles.
His work in managerial economics and investing has led to a modern wave of value investing within mutual funds, hedge funds, diversified holding companies, and other investment vehicles. During his life Graham had many notable disciples who went on to receive substantial success in the world of investment including Buffett, who described him as the second most influential person in his life after his own father, William J. Ruane, Irving Kahn and Walter J. Schloss, and others. His thoughts on investing have influenced the likes of Seth Klarman and Bill Ackman.
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