Benjamin Graham

About Benjamin Graham

Benjamin Graham (May 9, 1894 – September 21, 1976) was a British-born American economist, professor, and investor, widely known as the "father of value investing." His work laid the foundation for modern security analysis and investment philosophy. Graham taught at Columbia Business School for nearly three decades, where his students included Warren Buffett, who later called him the second most influential person in his life after his father. His investment firm, Graham-Newman Partnership, achieved an average annual return of approximately 20% from 1936 to 1956. His two seminal books, "Security Analysis" (1934) and "The Intelligent Investor" (1949), introduced fundamental concepts still used today, including intrinsic value, margin of safety, and the allegorical "Mr. Market." Graham advocated for a disciplined, emotionally detached approach to investing based on thorough analysis. Graham's emphasis on buying securities at a significant discount to their intrinsic value has influenced generations of value investors and remains the cornerstone of defensive investing strategies worldwide.