Benjamin Graham Popular Books

Benjamin Graham Biography & Facts

Benjamin Graham (; né Grossbaum; May 9, 1894 – September 21, 1976) was a British-born American financial analyst, investor and professor. He is widely known as the "father of value investing", and wrote two of the discipline's founding texts: Security Analysis (1934) with David Dodd, and The Intelligent Investor (1949). His investment philosophy stressed independent thinking, emotional detachment, and careful security analysis, emphasizing the importance of distinguishing the price of a stock from the value of its underlying business. After graduating from Columbia University at age 20, Graham started his career on Wall Street, eventually founding Graham–Newman Corp., a successful mutual fund. He also taught investing for many years at Columbia Business School, where one of his students was Warren Buffett. Graham later taught at UCLA Anderson School of Management at the University of California, Los Angeles. Graham laid the groundwork for value investing at mutual funds, hedge funds, diversified holding companies, and other investment vehicles. He was the driving force behind the establishment of the profession of security analysis and the Chartered Financial Analyst designation. He also advocated the creation of index funds decades before they were introduced. Throughout his career, Graham had many notable disciples who went on to earn substantial success as investors, including Irving Kahn and Warren Buffett, who described Graham as the second most influential person in his life after his own father. Among other well-known investors influenced by Graham were Charles D. Ellis, Mario Gabelli, Seth Klarman, Howard Marks, John Neff and Sir John Templeton. Early life and education Graham was born Benjamin Grossbaum on May 9, 1894, in London, England, to Jewish parents. On his mother's side, he was the great-grandson of Rabbi Yaakov Gesundheit and a cousin of neuroscientist Ralph Waldo Gerard. He moved to New York City with his family when he was one year old. The family changed its name from Grossbaum to Graham to assimilate into American society and avoid anti-Semitic and anti-German sentiments.After the death of his father, who owned a successful porcelain shop, and the Panic of 1907, the family fell into poverty. That experience helped shape Graham's lifelong quest for investment values. Graham excelled as a student, graduating as salutatorian of his class at Columbia, finishing his studies in three-and-a-half years after entering at age 16. Before the end of his senior year, the college offered him teaching positions in three different departments: mathematics, English and philosophy. Graham chose instead to help support his widowed mother by taking a job on Wall Street, where he later ran private partnerships and, starting in 1936, the Graham-Newman fund. Early on, Graham made a name for himself with "The Northern Pipeline Affair", an early case of shareholder activism involving John D. Rockefeller. Graham's research indicated Northern Pipeline Co. held vast cash and bond assets that he believed were not being put to good use, and bought enough shares to force a proxy vote to distribute these assets to shareholders. Later, Graham patented two innovative hand-held calculators, wrote a Broadway play called "Baby Pompadour", and taught himself Spanish so he could translate a major Uruguayan novel, Mario Benedetti’s The Truce, into English. (By the end of his life, Graham knew at least seven languages.) Investment and academic career His first book Security Analysis, which he co-authored with David Dodd, was published in 1934. In Security Analysis, he proposed a clear definition of investment that was distinguished from what he deemed speculation. It read, "An investment operation is one which, upon thorough analysis, promises safety of principal and a satisfactory return. Operations not meeting these requirements are speculative."Warren Buffett describes The Intelligent Investor (1949) as "the best book about investing ever written." Graham exhorted the stock market participant to first draw a fundamental distinction between investment and speculation. Graham wrote that the owner of stocks should regard them first and foremost as conferring part ownership in a business. With that perspective in mind, the stock owner should be unconcerned with erratic fluctuations in stock prices, since in the short term the stock market behaves like a voting machine, but in the long term it acts like a weighing machine (i.e. its true value will be reflected in its stock price in the long run). Graham distinguished between defensive and enterprising investors. The defensive investor seeks to minimize the time and effort -- and, above all, the worry -- of investing. So the defensive investor seldom trades, renouncing the attempt to forecast market behavior and security prices, instead holding for the long term. The enterprising investor, in contrast, is one who has more time, interest, and can devote the effort to original analysis seeking exceptional buys in the market. Graham recommended that enterprising investors devote substantial time and effort to analyze the financial state of companies. When a company is available at a discount to its intrinsic value, a "margin of safety" exists, which makes it suitable for investment. Graham wrote that "investment is most intelligent when it is most businesslike." By that he meant that investing, like running a business, is a systematic effort to maximize the likelihood of earning a reasonable return and to minimize the probability of suffering a severe loss. Thinking for yourself is vital: "You are neither right nor wrong because the crowd disagrees with you," Graham wrote. "You are right because your data and reasoning are right."Graham's favorite metaphor is that of Mr. Market, a fellow who turns up every day at the investor's door offering to buy or sell his shares at a different price. Usually, the price quoted by Mr. Market seems plausible, but occasionally it is ridiculous. The investor is free either to agree with his quoted price and trade with him, or to ignore him completely. Mr. Market doesn't mind this, and will be back the following day to quote another price. The investor should not regard the whims of Mr. Market as determining the value of the shares that the investor owns. The investor should profit from market folly rather than participate in it. The investor is best off concentrating on how the underlying businesses perform, not on how Mr. Market behaves.Graham was critical of the corporations of his day for obfuscated and irregular financial reporting that made it difficult for investors to discern the true state of the business's finances. He was an advocate of dividend payments to shareholders rather than businesses hoarding all of their profits as retained earnings. He also criticized those who advised that some types of stocks were a good buy at any price, because of the prospect of potentially unlimited earnings gro.... Discover the Benjamin Graham popular books. Find the top 100 most popular Benjamin Graham books.

Best Seller Benjamin Graham Books of 2024

  • Benjamin Graham, the Father of Financial Analysis synopsis, comments

    Benjamin Graham, the Father of Financial Analysis

    Irving Kahn, CFA & Robert D. Milne, CFA

    Benjamin Graham died on September 21, 1976 at his home in AixenProvence, France at age 82. When a pioneer in a profession dies at an advanced age, one generally has to go back many...

  • All That Glitters synopsis, comments

    All That Glitters

    John Gapper

    The definitive, classic account of the fall of the House of Baring and the ultimate rogue trader Nick Leeson.John Gapper, Associate Editor of the Financial Times, and his coauthor ...

  • BENJAMIN GRAHAM synopsis, comments

    BENJAMIN GRAHAM

    ATUL KAHATE

    वॉरन बफे हे नाव ‘शेअरबाजारात अभूतपूर्व यश मिळवणारा मनुष्य ’ म्हणून जगप्रसिद्ध आहे. अशा वॉरन बफेचा गुरू असलेला माणूस म्हणजे काय जबरदस्त प्रकार असेल! बेंजामिन ग्रॅहॅम हे त्याचं नाव. ...

  • Confessions of a Wall Street Insider synopsis, comments

    Confessions of a Wall Street Insider

    Michael Kimelman

    Although he was a suburban husband and father, living a far different life than the “Wolf of Wall Street,” Michael Kimelman had a good run as the cofounder of a hedge fund. He had ...

  • Dear Chairman synopsis, comments

    Dear Chairman

    Jeff Gramm

    A sharp and illuminating history of one of capitalism’s longest running tensionsthe conflicts of interest among public company directors, managers, and shareholderstold through ent...

  • Expiration Dates synopsis, comments

    Expiration Dates

    Rebecca Serle

    Being single is like playing the lottery. There’s always the chance that with one piece of paper you could win it all.From the New York Times bestselling author of In Five Years an...

  • Security analysis synopsis, comments

    Security analysis

    Benjamin Graham

    Uno de los libros de inversión más influyentes jamás escritosConsiderado el consejero en inversión y analista bursátil más importante del siglo xx, Benjamin Graham enseñó e inspiró...

  • The Spire synopsis, comments

    The Spire

    William Golding

    Succumb to one churchman's apocalyptic vision in this prophetic tale by the radical Nobel Laureate and author of Lord of the Flies, William Golding (recorded by Benedict Cumberbatc...

  • The Intelligent Investor synopsis, comments

    The Intelligent Investor

    Turbo-Learning

    A Comprehensive Book Review of The Intelligent Investor The Intelligent Investor is a book written by Benjamin Graham, published back in 1949 by Harper & Brothers. The book it...

  • To Reach the Clouds synopsis, comments

    To Reach the Clouds

    Philippe Petit

    An artist of the air recreates his sixyear plot to pull off an act of incomparable beauty and imaginationOne latesummer day, a feat of unimaginable audacity was perpetrated on the ...

  • How To Think Like Benjamin Graham and Invest Like Warren Buffett synopsis, comments

    How To Think Like Benjamin Graham and Invest Like Warren Buffett

    Lawrence A. Cunningham

    How to Think Like Benjamin Graham and Invest Like Warren Buffett wraps a lifetime of investing wisdom into one highly accessible package. An intelligent guide to analyzing and valu...

  • Letters to a Young Poet synopsis, comments

    Letters to a Young Poet

    Rainer Maria Rilke

    At the start of the twentieth century, Rainer Maria Rilke wrote a series of letters to a young officer cadet, advising him on writing, love, sex, suffering and the nature of advice...

  • The Dead Room synopsis, comments

    The Dead Room

    Heather Graham

    Classic paranormal romantic suspense from the queen of the genre! Rediscover this thrilling world where the dead can speak, only from New York Times bestselling author Heather Grah...

  • The Intelligent Investor synopsis, comments

    The Intelligent Investor

    Instaread

    The Intelligent Investor by Benjamin Graham and Jason Zweig | Key Takeaways, Analysis & Review     Preview: The Intelligent Investor: The Definitive Book on Value Inv...

  • Benjamin Graham Ki Biography synopsis, comments

    Benjamin Graham Ki Biography

    Pushkar Kumar

    Benjamin Graham Ki Biography by Pushkar Kumar: Delve into the life and investment philosophy of the legendary economist and investor Benjamin Graham with "Benjamin Graham Ki Biogra...

  • Harrison Investigation Series Volume 2 synopsis, comments

    Harrison Investigation Series Volume 2

    Heather Graham

    Return to the thrilling world of Harrison Investigations. Before the Krewe of Hunters, there was Adam Harrison’s PI firm. Available for the first time in a value box set, stories 4...

  • Unhallowed Ground synopsis, comments

    Unhallowed Ground

    Heather Graham

    Before the Krewe of Hunters, there was Harrison Investigations. Be thrilled by this classic paranormal romantic suspense by the queen of the genre, New York Times bestselling autho...

  • Money Machine synopsis, comments

    Money Machine

    Gary V. Smith

    This book looks at Wall Street wonders Warren Buffet, Benjamin Graham, and other legends and shares how you can utilize their secrets to unimaginable success!It’s time to put your ...

  • Las memorias del decano de Wall Street synopsis, comments

    Las memorias del decano de Wall Street

    Benjamin Graham

    La vida del legendario inversor que revolucionó el mundo de las finanzas contada por él mismoPor primera vez traducidas al español, las memorias de Benjamin Graham nos abren la pue...

  • The Vision synopsis, comments

    The Vision

    Heather Graham

    Classic paranormal romantic suspense from the queen of the genre! Rediscover this thrilling world where the dead can speak, only from New York Times bestselling author Heather Grah...

  • Dombey and Son synopsis, comments

    Dombey and Son

    Charles Dickens & Andrew Sanders

    'There's no writing against such power as this one has no chance' William Makepeace ThackerayA compelling depiction of a man imprisoned by his own pride, Dombey and Son explores t...

  • The Intelligent Investor synopsis, comments

    The Intelligent Investor

    Turbo-Learning

    A Comprehensive Book Review of The Intelligent Investor The Intelligent Investor is a book written by Benjamin Graham, published back in 1949 by Harper & Brothers. The book it...

  • Harrison Investigation Series Volume 3 synopsis, comments

    Harrison Investigation Series Volume 3

    Heather Graham

    Before the Krewe of Hunters, there was Harrison Investigations. Together for the first time in one value box set, three stories of romantic suspense tinged with ghosts and mystery,...

  • The Presence synopsis, comments

    The Presence

    Heather Graham

    Revisit the misty hills of Scotland, where there might be ghosts and there’s certainly a killer, in this thrilling tale of romantic suspense from New York Times bestselling author ...

  • An Apology for Idlers synopsis, comments

    An Apology for Idlers

    Robert Louis Stevenson

    An irresistible invitation to reject the work ethic and enjoy life's simple pleasures (such as laughing, drinking and lying in the open air), Robert Louis Stevenson's witty and sem...

  • Where the Money Is synopsis, comments

    Where the Money Is

    Adam Seessel

    “One of the best books I have read on investing in years. ” Bill Ackman, founder and CEO, Pershing Square Capital ManagementFrom a successful investor and a contributor to Barron’s...

  • Selected Essays synopsis, comments

    Selected Essays

    Samuel Johnson

    This volume contains a generous selection from the essays Johnson published twice weekly as 'The Rambler' in the early 1750s. It was here that he first created the literary charact...

  • 7 Secrets to Investing Like Warren Buffett synopsis, comments

    7 Secrets to Investing Like Warren Buffett

    Mary Buffett

    A clear, simple, and complete guide for beginning investors from bestselling author Mary Buffett and Sean Seah that explains Warren Buffett’s techniques of Value Investing and his ...