Benjamin Graham is widely acknowledged as the father of modern security analysis and the father of value investing. His timeless books, Security Analysis and The Intelligent Investor, are considered the bibles for both individual investors and Wall Street professionals.
Graham co-founded Graham-Newman, investment advisors, and is recognized as one of Wall Street’s most successful investors. However, his reputation as the father of value investing can be dated to 1928 when he started teaching Advanced Security Analysis at Columbia University. Graham taught or influenced later investment gurus Warren Buffett, Mario Gabelli, John Neff, Michael Price, John Bogle—and Cabot Benjamin Graham Value Investor‘s chief analyst, J. Royden Ward.
Graham’s classes and books were the foundation of a whole new approach to the investment industry based on principles of measuring a stock’s price versus the company’s intrinsic value and applying a margin of safety. A pioneer in financial analysis, Graham developed resilient techniques that could be followed in any market. He popularized the examination of price-to-earnings ratios, debt-to-equity ratios, dividend records, net current assets, book values and earnings growth.
Since 1926, Benjamin Graham’s timeless value investing approach has achieved returns of 20% per year with low risk regardless of the market’s ups and downs.
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