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

Lowe, Janet

Hardcover

ISBN 10: 0471244724 ISBN 13: 9780471244721

Publisher: Wiley, 1999

Synopsis

"The sillier the market's behavior, the greater the opportunity for the business-like investor. Follow Graham and you will profit from folly rather than participate in it."-Warren E. Buffett.

"[Graham] is the genius who literally created the framework for investment analysis that leads to successful investing. Like that other genius Edison, Graham created light where there was none." -Bill Ruane, Sequoia Fund.

"It's never the wrong time to invoke the name of Benjamin Graham, value investor par excellence." -Money

"The search for intelligent investing should begin with the remarkable Benjamin Graham's timeless teachings. Read Lowe's book and you'll learn to seek what the original master sought as she helps Graham reclaim his rightful place as the most important and extraordinary investment writer of any generation."-Kenneth Lee, author of Trouncing the Dow.

Known as the "father of value investing," Benjamin Graham was-and is-one of America's most lauded financial thinkers. Billionaire investor Warren Buffett, a former student of Graham, extols him to this day. Brilliant, successful, and ethical, he revolutionized investment philosophy by introducing the concepts of security analysis, fundamental analysis, and value investing-theories that have become timeless essentials of the field. Now, Janet Lowe, author of Benjamin Graham on Value Investing and Warren Buffett Speaks, reintroduces the foundations of Graham's eminence-including his ever-relevant market observations and his assessment of long-term economic problems-by presenting a unique compilation of his writings that contains rare and/or previously unpublished articles, lectures, and interviews.

Almost twenty-five years after his death, Benjamin Graham continues to have one of the largest and most loyal followings of any investment philosopher of this century. A prolific and popular writer whose trademark was blending original ideas with wit and intelligence, he has guided and inspired Wall Street professionals with his thoughtful ruminations and piercing insights on a host of investment and economic topics. Though bits and pieces of this material are widely quoted even today, the full writings have not always been easy to find-until now.

The result of in-depth research, The Rediscovered Benjamin Graham brings together the very best the investment legend had to offer, including such incisive works as:
* "Inflated Treasuries and Deflated Stocks: Are Corporations Milking Their Owners?"
* "The Ethics of American Capitalism".
* "Proposals for an International Commodity-Reserve Currency".
* "The New Speculation in Common Stocks".
* "Is American Business Worth More Dead Than Alive?".
* "The Simplest Way to Select Bargain Stocks".

A groundbreaking volume that fills an important niche in investment literature, The Rediscovered Benjamin Graham is destined to become as timeless a classic as its distinguished subject.

Jacket Design: Don Welsh

About this title

Review

In The Rediscovered Benjamin Graham, Janet Lowe collects plenty of value. Graham was one of the greatest seers and bargain hunters in Wall Street history. Lowe, a veteran financial journalist and editor, showcases a wide range of Graham's writings, lectures, speeches, and interviews from the 1930s to the 1970s. A money manager, author, and adjunct professor at Columbia University, Graham became a millionaire by buying beaten-up stocks following the 1929 crash. Warren Buffett was an early enthusiast of Graham, whose style of investing and advice remain important nearly 25 years after his death. Graham preached the need to buy companies at a major discount to the rest of the market, based on factors such as book value, dividend yields, and price-to-earnings ratio. "Graham still has one of the largest and most loyal followings of any investment philosopher of this century," Lowe writes in the preface. "The more readers study Graham's value investing principles, the more loyal they are likely to become."

The book includes "Renaissance of Value," an address by Graham from 1974 that foreshadowed the bull market of the next decade; "Is American Business Worth More Dead than Alive?", Graham's three-part series in Forbes in 1932 that correctly heralded the deals on Wall Street at the time; and "Interviews with Benjamin Graham," three magazine articles about his musings in retirement after 60 years of investing. Graham, known for his books Security Analysis and The Intelligent Investor, could be amazingly prescient. But he also made lots of mistakes, leading him to conclude that no one could be precise about the direction of the stock market. "The only thing that we can be pretty sure of, perhaps, is that we are acting reasonably and intelligently," he said in a lecture 50 years ago. "And if we are wrong, as we are likely to be, at least we have been intelligently wrong and not unintelligently wrong." Like most books by and about Graham, this belongs on the shelf of any value investor. --Dan Ring

From the Inside Flap

"The search for intelligent investing should begin with the remarkable Benjamin Graham's timeless teachings. Read Lowe's book and you'll learn to seek what the original master sought as she helps Graham reclaim his rightful place as the most important and extraordinary investment writer of any generation." -Kenneth Lee, author of Trouncing the Dow Known as the "father of value investing," Benjamin Graham was-and is-one of America's most lauded financial thinkers. Billionaire investor Warren Buffett, a former student of Graham, extols him to this day. Brilliant, successful, and ethical, he revolutionized investment philosophy by introducing the concepts of security analysis, fundamental analysis, and value investing-theories that have become timeless essentials of the field. Now, Janet Lowe, author of Benjamin Graham on Value Investing and Warren Buffett Speaks, reintroduces the foundations of Graham's eminence-including his ever-relevant market observations and his assessment of long-term economic problems-by presenting a unique compilation of his writings that contains rare and/or previously unpublished articles, lectures, and interviews. Almost twenty-five years after his death, Benjamin Graham continues to have one of the largest and most loyal followings of any investment philosopher of this century. A prolific and popular writer whose trademark was blending original ideas with wit and intelligence, he has guided and inspired Wall Street professionals with his thoughtful ruminations and piercing insights on a host of investment and economic topics. Though bits and pieces of this material are widely quoted even today, the full writings have not always been easy to find-until now. The result of in-depth research, The Rediscovered Benjamin Graham brings together the very best the investment legend had to offer, including such incisive works as:
* "Inflated Treasuries and Deflated Stocks: Are Corporations Milking Their Owners?"
* "The Ethics of American Capitalism"
* "Proposals for an International Commodity-Reserve Currency"
* "The New Speculation in Common Stocks"
* "Is American Business Worth More Dead Than Alive?"
* "The Simplest Way to Select Bargain Stocks"
A groundbreaking volume that fills an important niche in investment literature, The Rediscovered Benjamin Graham is destined to become as timeless a classic as its distinguished subject.

Edition details

• Publisher: Wiley
• Publication date: 1999
• ISBN 10: 0471244724
• ISBN 13: 9780471244721
• Binding: Hardcover
• Language: English
• Edition number: 1
• Number of pages: 304