Benjamin Graham on Investing: Enduring Lessons from the Father of Value Investing

“They laid out a road map forinvesting that I have now beenfollowing for 57 years. There’s beenno reason to look for another.”
―Warren Buffett, on thewritings of Benjamin Graham

Legendary investing author and philosopherBenjamin Graham lived throughinteresting times. Soon after his graduationfrom Columbia College, the nation enteredthe First World War. As the stock market fluctuatedin wild dips and peaks, the governmentseized control of the railroad industry, inflationand interest rates rose dramatically, andeconomic depression loomed on the horizon.

During these events―and perhaps inspiredby them―Graham began writing articles forThe Magazine of Wall Street, putting to paperhis earliest ideas on value investing and securityanalysis.

For the first time, these important workshave been anthologized into a single volume.Benjamin Graham on Investing is a treasure troveof rare and out-of-print articles that documentthe early flashes of genius from a manwhose ideas and theories would revolutionizeinvestment philosophy and inspire the careersof such luminaries as Warren Buffett, SethKlarman, Charlie Munger, and countless othertop-tier investors.

The early works of Benjamin Graham havenever been as relevant as they are today.The world’s markets are undergoing changeon a scale not unlike that of Graham’s era.David Darst, one of the world’s most respectedexperts on asset allocation, provides insightfulanalyses connecting Graham’s articles toevents today.

,i>Benjamin Graham on Investing is a timelessclassic that continues to have relevance morethan 30 years after the author’s death.

Benjamin Graham was the author of manyinfluential investment books, including theclassic Security Analysis, now in its sixth edition.The first proponent of the value schoolof investing and founder and former presidentof the Graham-Newman corporation investmentfund, Graham taught at ColumbiaUniversity’s Graduate School of Business from1927 through 1957.
Rodney G. Klein is aWall Street historian and former student ofBenjamin Graham at UCLA. He founded theKlein Stock Market Museum & Library inMassillon, Ohio.
David M. Darst, CFA, is amanaging director of Morgan Stanley. Heserves as Chairman of the Asset AllocationCommittee and Chief Investment Strategistof the Global Wealth Management Group.Darst was the founding president of theMorgan Stanley Investment Group.

Rodney G. Klein is aWall Street historian and former student ofBenjamin Graham at UCLA. He founded theKlein Stock Market Museum & Library inMassillon, Ohio.