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What Makes Benjamin Graham So Different
Aug 4, 2017

There are and have been endless list of 'stock market gurus' out here. Among all of them, what makes Benjamin Graham so distinct?

I think it's because most stock market theory counts on the investor to have a special degree of judgment and foresight to be able to have success in the market.

Implicitly, it looks at the decisions needed to be made as highly subjective. And at a typical successful stock-picker as one who has a 'feel' for things like the near-term business prospects, industry prospects, and the prospects of the stock market as a whole.

And as someone who intuitively knows the pulse of the market, and makes his decisions accordingly.

It looks at stock-picking mastery being small part learnable skill, and big part having that 'extra' insight. Somewhat like an art, or a gift - some have it, some just don't. You can learn everything there is to know about companies and the market. But having the ability to make a killing in the market; not that. That needs a special edge - a special something not all have. That's the way most gurus approach the subject anyway.

And that's what makes Graham special...

All of his teachings veered towards one goal: To have a framework that sets standards and principles that are objective enough so that they can be fully replicated by someone who spends time understanding them.

His philosophies do not count on or expect the investor to have any 'special' degree of judgment or insight about companies and the markets.

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