Benjamin Graham

Benjamin Graham was a British-born American <a href="/facts/Jew/T9Y4wE6A">jew</a>, <a href="/facts/Financial_analyst/mlBpFFja">financial analyst</a>, <a href="/facts/Economist/41nWfEgr">economist</a>, <a href="/facts/Accountant/p2nyaK5J">accountant</a>, <a href="/facts/Investor/JEVPRsyV">investor</a> and <a href="/facts/Professor/JNqot4sU">professor</a>. He is widely known as the "father of <a href="/facts/Value_investing/37xKcMkc">value investing</a>", and wrote two of the discipline's founding texts: <a href="/facts/Security_Analysis_(book)/aa5Qs4uF">Security Analysis</a> (1934) with <a href="/facts/David_Dodd/hzRq8KAJ">David Dodd</a>, and <a href="/facts/The_Intelligent_Investor/baMEvJuf">The Intelligent Investor</a> (1949). His investment philosophy stressed independent thinking, emotional detachment, and careful <a href="/facts/Security_analysis/sGk2VoN1">security analysis</a>, emphasizing the importance of distinguishing the price of a stock from the value of its underlying business.
After graduating from <a href="/facts/Columbia_University/Hlf1gw53">Columbia University</a> at age 20, Graham started his career on Wall Street, eventually founding Graham–Newman Corp., a successful <a href="/facts/Mutual_fund/gyz5AKUP">mutual fund</a>. He also taught investing for many years at <a href="/facts/Columbia_Business_School/TAPcAq9D">Columbia Business School</a>, where one of his students was <a href="/facts/Warren_Buffett/6607Vdu5">Warren Buffett</a>. Graham later taught at the <a href="/facts/UCLA_Anderson_School_of_Management/Ka9Uae08">Anderson School of Management</a> at the <a href="/facts/University_of_California,_Los_Angeles/KwPz7AK1">University of California, Los Angeles</a>.
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 <a href="/facts/Security_analysis/sGk2VoN1">security analysis</a> and the <a href="/facts/Chartered_Financial_Analyst/RtNjrD32">Chartered Financial Analyst</a> designation. He also advocated the creation of <a href="/facts/Index_fund/ULAIr8j0">index funds</a> decades before they were introduced. Throughout his career, Graham had many notable disciples who went on to earn substantial success as investors, including <a href="/facts/Irving_Kahn/apTXYBYy">Irving Kahn</a> and <a href="/facts/Warren_Buffett/6607Vdu5">Warren Buffett</a>, 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 <a href="/facts/Charles_D._Ellis/hun4VySt">Charles D. Ellis</a>, <a href="/facts/Mario_Gabelli/V7UtU43p">Mario Gabelli</a>, <a href="/facts/Seth_Klarman/TAd29dHx">Seth Klarman</a>, <a href="/facts/Howard_Marks_(investor)/nLup1T37">Howard Marks</a>, <a href="/facts/John_Neff/wXKje531">John Neff</a> and Sir <a href="/facts/John_Templeton/SJXYDfnh">John Templeton</a>.

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Benjamin Graham