# Benjamin Graham

> American economist and investor (1894-1976)

**Wikidata**: [Q290560](https://www.wikidata.org/wiki/Q290560)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Benjamin_Graham)  
**Source**: https://4ort.xyz/entity/benjamin-graham

## Summary
Benjamin Graham was an American economist, investor, and academic who pioneered modern investment theory and value investing. He is best known for authoring foundational texts such as *Security Analysis* (1934) and *The Intelligent Investor* (1949), which shaped the principles of fundamental analysis and long-term investing.

## Biography
- Born: May 9, 1894, in London, United Kingdom
- Nationality: United States
- Education: Bachelor of Arts from Columbia University
- Known for: Developing value investing principles and authoring foundational investment literature
- Employer(s): Columbia University (professor), various financial firms
- Field(s): Economics, finance, investment theory

## Contributions
Benjamin Graham made several landmark contributions to the field of finance and investment:
- **Security Analysis** (1934, co-authored with David Dodd): A seminal work that introduced rigorous methods for evaluating stocks and bonds, laying the foundation for fundamental analysis.
- **The Intelligent Investor** (1949): A widely influential book that outlines a philosophy of "value investing" and emphasizes long-term investment strategies, often cited as one of the best guides to investing ever written.
- Development of **value investing principles**, which advocate for buying stocks trading below their intrinsic value, a method later adopted by investors like Warren Buffett.
- Taught at **Columbia University**, where he influenced generations of students and professionals in economics and finance.
- His academic and practical work helped establish **modern investment theory**, emphasizing rational decision-making and risk management.

## FAQs
### What is Benjamin Graham known for?
Benjamin Graham is known as the father of value investing and for writing *Security Analysis* and *The Intelligent Investor*, which are foundational texts in investment theory.

### Where did Benjamin Graham study?
He earned a Bachelor of Arts degree from Columbia University, where he later became a professor.

### What books did Benjamin Graham write?
He authored *Security Analysis* (1934) and *The Intelligent Investor* (1949), both of which remain essential reading in finance.

### Where did Benjamin Graham work?
He worked as a professor at Columbia University and was involved in various financial and investment firms throughout his career.

### What is value investing?
Value investing is an investment strategy developed by Benjamin Graham that involves buying stocks that appear undervalued by fundamental analysis, focusing on intrinsic value rather than market trends.

### How did Benjamin Graham influence modern finance?
He laid the groundwork for modern investment theory by emphasizing fundamental analysis, risk management, and long-term investment strategies, influencing major investors like Warren Buffett.

## Why They Matter
Benjamin Graham fundamentally transformed the field of investing by introducing a disciplined, analytical approach that prioritized intrinsic value over speculation. His methodologies became the cornerstone of modern financial analysis and are taught in business schools worldwide. Graham's principles influenced a generation of investors, including Warren Buffett, who credits him as a major mentor. His work continues to shape how individuals and institutions approach equity valuation and portfolio management.

## Notable For
- Authoring *Security Analysis* (1934), a foundational text in financial analysis
- Writing *The Intelligent Investor* (1949), considered one of the greatest investment books
- Pioneering the concept of value investing, which focuses on intrinsic value
- Teaching at Columbia University, where he mentored future financial leaders
- Influencing Warren Buffett, who applied Graham’s principles to build Berkshire Hathaway
- Establishing enduring principles of risk assessment and long-term investment strategy
- Being a key figure in the development of modern portfolio and security analysis
- Serving as both a practitioner and academic, bridging theory and real-world application

## Body
### Early Life
Benjamin Graham was born Benjamin Grossbaum on May 9, 1894, in London, United Kingdom. His family emigrated to New York City when he was young, where he later pursued higher education. He adopted the surname "Graham" during his academic career.

### Education and Academic Career
Graham earned a Bachelor of Arts from Columbia University, where he later joined the faculty as a professor. His academic work focused on economics and finance, and he became a central figure in shaping the curriculum and intellectual environment at Columbia’s business school.

### Professional Career
Graham worked in various capacities within the financial sector, including roles in investment firms and as an independent consultant. He was notably employed by:
- **Columbia University**, where he served as a professor and influenced many future economists and financiers
- Multiple financial institutions where he applied and refined his investment theories

### Publications and Theoretical Contributions
Graham authored two landmark works that remain central to finance education:
- **Security Analysis (1934)**: Co-written with David Dodd, this book introduced a rigorous method for evaluating financial securities based on fundamental analysis. It became a cornerstone text for finance professionals and students alike.
- **The Intelligent Investor (1949)**: This book outlined Graham’s philosophy of value investing and emphasized long-term strategies, advocating for buying undervalued stocks with strong fundamentals. It is often cited as one of the best investment guides ever written.

### Field of Work
Graham’s primary fields included:
- **Economics**: As a social science discipline, economics formed the theoretical basis of his work.
- **Finance and Investment**: He specialized in investment theory, particularly value investing, which focuses on identifying undervalued assets.
- **Education**: As a university teacher at Columbia University, he shaped the next generation of financial minds.

### Influence and Legacy
Graham’s methodologies profoundly influenced modern investment practices:
- His **value investing** approach became the foundation for many successful investment strategies, including those of Warren Buffett.
- His teachings emphasized **rational analysis**, **risk management**, and **long-term thinking**, which continue to guide financial professionals globally.
- He is credited with establishing **systematic methods for security analysis**, which are now standard practices in financial institutions.

Graham’s work also contributed to the development of **behavioral finance**, as his principles address the psychological biases that can affect investment decisions. His legacy is evident in the continued relevance of his books, the enduring popularity of his investment philosophy, and the success of those he mentored.

## References

1. general catalog of BnF
2. CiNii Research
3. Virtual International Authority File
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6. Freebase Data Dumps. 2013
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8. Quora
9. Golden
10. Regional Database of the Central Bohemian Research Library in Kladno
11. Catalogo of the National Library of India