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Making Money from the Market's Neglect of Graham - Views on News from Equitymaster
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Making Money from the Market's Neglect of Graham
Jul 5, 2016

Not many like to read Benjamin Graham's books. I'm willing to bet that Graham's books on investing would be the dustiest in any library.

It's not really that surprising if you think about it. His books are old - the two most famous were published in 1934 and 1949. That's well over half a century back. In a world where real time market updates are available in the palm of one's hand, that's downright Jurassic!

But it gets worse. Read Graham and the first thing that jumps out is that everything he talks about is from a different era altogether. The examples he cites, the companies he mentions, the stock market conditions, the people...even the language seems archaic.

Many conclude that his ideas are outdated and barely relevant in today's age. Few actually get through his writings.

And then there's the common perception that Warren Buffett, Graham's most famous and successful student, has moved far beyond what his mentor expounded. That how Buffet invests today is far removed from Graham's teachings.

But perhaps we should ask Buffett himself how he conducts his investing these days...

Now, I'm not on a first name basis with Buffett, so it's not like I can give him a call and ask. Luckily for us, Buffett chose to include a section titled 'Some Thoughts About Investing' in his 2013 letter to Berkshire Hathaway shareholders.

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