Download Benjamin Graham, the Father of Financial Analysis by Irving Kahn PDF

By Irving Kahn

An unofficial biography on Benjamin Graham through Irving Kahn, CFA, and Robert D. Milne, CFA.

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Extra resources for Benjamin Graham, the Father of Financial Analysis

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Again the text was brought up-to-date with new and original material covering situations confronting investors at that time. The stock market was in a general uptrend from 1942 until Ben retired in 1956, except for a basic reaction in 1946 and downward drift to 1949. Ben kept uncovering undervalued special situations. The two lists of special situations in the 1940 edition of Security Analysis advanced an average of 252 percent in the following eight years, as compared with a 33 percent advance for the Standard & Poor's Industrials.

Consequently, I have set two limits. A maximum multiple of 10 even when interest rates are under five percent, and a maximum multiple of 7 times even when interest rates are above seven percent as they are now. So typically my buying point would be double the current AAA interest rate with a maximum multiplier between 10 and 7. My research has been based on that. I received in Chicago last year the Molodovsky Award. HB: I understand that you have about completed this research. Graham: Imagine-there seems to be practically a foolproof way of getting good results out of common stock investment with a minimum of work.

Her brilliant mind encouraged a number of contributions from Ben. Also, both shared a weakness for cats. Helen had a particular favorite, Alexander, in whose name she purchased several stocks. " Ben never did make his mind up as to whether or not it was an honor to ascend to Alexander's place. The Financial Analysts Federation held its first annual conference in 1947. Ben addressed the conference on the need for greater professionalism. He pointed out the necessity of an organized study program, probably culminating in an examination to qualify candidates for a professional designation such as was the case in other professions.

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