The Rediscovered Benjamin Graham: Selected Writings of the Wall Street Legend

by Benjamin Graham and Janet Lowe

Book Overview

Benjamin Graham ist eine der legend?ren Gestalten der Wall Street. Mit der Zeit stieg sein Ruf, und heute ist seine Investment-Philosophie bemerkenswert popul?r und anerkannt. Janet Lowe f?rderte durch akribische Forschung Schriftst?cke, Artikel, Briefe und Abhandlungen der illustren Pers?nlichkeit zutage, bisher selten oder nicht ver?ffentliche Belege, anhand derer Sie Person und Ideen Grahams wiederentdecken werden. (04/99)

• Format: Hardcover
• Language: English
• ISBN: 0471244724
• ISBN13: 9780471244721
• Release Date: April 1999
• Publisher: Wiley
• Length: 304 Pages
• Weight: 1.40 lbs.
• Dimensions: 1.0" x 6.4" x 9.3"

Customer Reviews

Perfect 5/5

I don't think too many people know about this book, however, everyone should. It is an easy, quick read culminating Graham's entire philosophy. It also includes interviews near the end of his great life- and still then his mind is sharp. Another thing I found interesting was in the last interviews of the book, Graham had begun to believe that investing should be extremely simple- and I mean extremely simple- rather than the long, drawn out process that he had been doing his entire career. I will leave you with one quote: They called it the "Bible of Graham and Dodd." Yes, well now I have lost most of the interest I had in the details of security analysis which I devoted myself to so strenuously for many years. I feel that they are relatively unimportant, which, in a sense, has put me opposed to developments in the whole profession. I think we can do it successfully with a few techniques and simple principles. The main point is to have the right general principles and the character to stick to them.

Previously unpulished Benjamin Graham

Janet Lowe has done an outstanding job collating and introducing each section of this book of previously unpublished articles, lectures, and interviews from the father of value investing. I believe anyone reading this book will get a huge value out of it. This book is a great addition to Mr. Graham's books. It is also a great book to read for those new to Graham's teachings of buying good stocks when their prices are below intrinsic value. Graham's methods of finding good stocks at fair prices by examining their equity to asset ratios, book value, and P/E multiples brought the Graham-Newman partnership over a 20% annual return on equities for 20 years. Followed by his pupil Warren Buffet using and refining his techniques to return over 20% a year for 40 years and eventually lead Warren Buffett to be worth $40 billion thanks to using his value investing for the holding company Berkshire-Hathaway. I sit up and listen to anything these two great men have to say. I also recommend reading Graham's Intelligent Investor and Security Analysis, and "The essays of Warren Buffett" by Cunningham.

Margin of safety

This book give a concrete two factor formula for buying below market value investments without needing the more extensive balance sheet analysis as used in the "Intelligent Investor" or "Security Analysis".

Relevant and valuable

Janet Lowe's book delivers. Want to know what a genius of finance thinks about investing, the stock market and economics? Buy this book. Each time I read it, I discover a new insight which previously eluded me. Truly a great book and I recommend it to all investors of any level of investment sophistication.

Excellent primary materials

This is an excellent collection of lectures, writings, and other primary materials from Graham. It's not a tired third-party exposition of what Graham means to investing or what he meant to say in his writings. Like Buffett, Graham can be sublime, so the more context you have, the more valuable this book becomes. This collection is a good deal at five times the cover price.A small observation, though. Who calls Ben Graham "the father of financial advice?" "The father of fundamental analysis" is more common. I don't know where Lowe got that, but I've never heard that.