: Value Investing Forum - Singapore, Hong Kong, U.S.

Full Version: A Conversation With Benjamin Graham
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
Shortly before Benjamin Graham died, he gave an interview reflecting on all he had learned during his 60+ year career. The interview – titled A Conversation with Benjamin Graham – was conducted by the Financial Analyst JournalGraham’s profound answers offer exceptionally powerful lessons for investors still to this day.
During the course of Benjamin Graham’s unparalleled career, he published a vast number of articles, speeches, and reports which documented his investment principles. By far, the most referenced of these publications are two time-tested books, Security Analysis and The Intelligent Investor.
None are more relevant to individual investors than his last interview.

Enjoy your reading.
I rather like this example of Ben Graham's thinking ( stock market resembles a huge laundry ) copied below :

Question: What is your view of Wall Street as a financial institution?

Ben Graham: A highly unfavorable–even a cynical–one. The Stock Exchanges appear to me chiefly as a John Bunyan type of Vanity Fair, or a Falstaffian joke, that frequently degenerates into a madhouse–“a tale full of sound and fury, signifying nothing.” The stock market resembles a huge laundry in which institutions take in large blocks of each other’s washing–nowadays to the tune of 30 million shares a day–without true rhyme or reason. But technologically it is remarkably well-organized.