In the 2004 addition of Forbes Greatest Investing Stories it lists Ben Graham’s ten criteria for valuing stocks. While this is not intended to be a criticism, it’s a great illustration of how this same criteria, which worked so well for many years, would be difficult to use when valuing … Read More
Charles Munger: Why Did Ben Graham’s Net Nets Disappear
Just been re-reading Charles Mungers’ classic speech – A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business. In it Munger provides some great insights into what happened to the net nets stocks popularized by Ben Graham. Here’s an excerpt from that speech: The second basic … Read More
Even The Most Intelligent Investors Succumb To Human Frailty – Including Ben Graham
I’ve just finished a great little book called – Benjamin Graham: The Memoirs of the Dean of Wall Street. It’s a fantastic read about the father of value investing, Ben Graham. While a lot has been written about the investing insights of Graham it was interesting to read the following passage … Read More
Buy Groups of Stocks That Meet Some Simple Criterion for Being Undervalued – Benjamin Graham
One of my favorite Benjamin Graham interviews was one he did with Hartman L. Butler, Jr., C.F.A. in 1976. Graham discusses a number of topics including how to successfully think like an investor, writing Security Analysis, index funds, and the efficient market theory. But my favorite piece includes his thoughts … Read More
Warren Buffett on Benjamin Graham
Much has been written about Warren Buffett’s relationship with Benjamin Graham. But one of my favorites is from an article he wrote for the Financial Analysts Journal back in 1976. I think it sums up their relationship perfectly. My favorite Buffett quote is, “And if encouragement or counsel was needed, … Read More