{"id":36546,"date":"2025-05-27T23:56:00","date_gmt":"2025-05-27T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/us\/?p=36546"},"modified":"2026-05-25T09:49:52","modified_gmt":"2026-05-25T01:49:52","slug":"benjamin-graham-on-value-investing-grahams-bio-book","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/","title":{"rendered":"&#8220;Benjamin Graham on Value Investing&#8221;, Graham&#8217;s bio book"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Introducing_this_book\" >Introducing this book<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Content\" >Content<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Author_Janet_Lowe\" >Author Janet Lowe<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Reasons_to_recommend_this_book\" >Reasons to recommend this book<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Content_of_the_book\" >Content of the book<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Grahams_thoughts\" >Graham&#8217;s thoughts<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Investment_Career\" >Investment Career<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Neuburg\" >Neuburg<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Starting_a_business\" >Starting a business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Graham-Newman_Company_established\" >Graham-Newman Company established<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Graham-Newmans_simple_goal\" >Graham-Newman&#8217;s simple goal<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Graham-Newman_investment_returns\" >Graham-Newman investment returns<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Teaching\" >Teaching<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Publication\" >Publication<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Data_leakage\" >Data leakage<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Investment_advice_for_women\" >Investment advice for women<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/#Related_articles\" >Related articles<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introducing_this_book\"><\/span>Introducing this book<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Content\"><\/span>Content<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>&#8220;<a href=\"https:\/\/www.amazon.com\/Benjamin-Graham-Value-Investing-Lessons\/dp\/0140255346\" target=\"_blank\" rel=\"noopener\">Benjamin Graham on Value Investing<\/a>&#8220;, published in 1996, mainly talks about two things:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&#8220;<a href=\"https:\/\/www.amazon.com\/Benjamin-Graham-Value-Investing-Lessons\/dp\/0140255346\" target=\"_blank\" rel=\"noopener\">Benjamin Graham on Value Investing<\/a>&#8221; mainly talks about Graham&#8217;s life, and this book is also equivalent to Graham&#8217;s biography. I have read another biography of Graham, which I personally found to be more interesting.<\/li>\n\n\n\n<li>&#8220;Value investing&#8221; advocated by Graham.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Author_Janet_Lowe\"><\/span>Author Janet Lowe<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Author Janet Lowe is a deceased American writer who, as far as I know, published more than ten books. I have read four of these books. The main scope of these more than ten books is mainly in the two major areas of business celebrities and investment. She is particularly good at business and celebrities, and has published the world&#8217;s first biography of Charlie Munger.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reasons_to_recommend_this_book\"><\/span>Reasons to recommend this book<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Author Janet Lowe  has in-depth research on Graham, Buffett, and value investing, and his writing style is not boring.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Content_of_the_book\"><\/span>Content of the book<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>How Graham&#8217;s three important works came to be, and the important contents of each book.<\/li>\n\n\n\n<li>Graham-Newman Company.<\/li>\n\n\n\n<li>A discussion on the teacher-student relationship with Buffett.<\/li>\n\n\n\n<li>Graham&#8217;s teaching career.<\/li>\n\n\n\n<li>Graham&#8217;s relationship with Geico Insurance Company.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Grahams_thoughts\"><\/span>Graham&#8217;s thoughts<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Graham: &#8220;There are no easy and simple ways to get rich on Wall Street or anywhere else.&#8221;<\/li>\n\n\n\n<li>While working, Graham came into contact with the technological tools of IBM (then called CTR) and thought that this pre-IPO company had great potential, but unfortunately his boss rejected his application. A year later, IBM went public and has dominated the U.S. stock market ever since.<\/li>\n\n\n\n<li>Adam Smith: &#8220;If security analysis were a profession, there would be only one dean of that profession, and Graham would be the dean.&#8221;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Investment_Career\"><\/span>Investment Career<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Neuburg\"><\/span>Neuburg<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>After graduating from Columbia University, Graham joined Newburger, a famous Wall Street securities broker, through the introduction of the dean of Columbia University and worked there for nine years. During this period, he continued to demonstrate his extraordinary insights, work ability, and investment performance in securities, and was appreciated by many listed companies.<\/p>\n\n\n\n<p>Because Graham almost overturned the way the industry analyzed public companies in the past.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Starting_a_business\"><\/span>Starting a business<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>After Graham left Neuberger, clients funded him to start his own investment company. The total capital was 250,000 US dollars, his annual salary was 10,000 US dollars, and the clients received a fixed dividend of 6% each year. If there was profit, Graham could get another 20% of it. This is exactly the same as the way Buffett Partnership later divided the profits.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Graham-Newman_Company_established\"><\/span>Graham-Newman Company established<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A few years later, the company was liquidated and dissolved due to disagreements among major shareholders over the new profit-sharing formula. Graham then set up his own new company and hired his classmate&#8217;s brother Newman to manage the company for him. Soon after, he discovered that Newman was extremely talented and had a good way of managing the company&#8217;s business, so Graham invited Newman to join him, and the two of them jointly owned the company. This is the origin of the company &#8220;Graham Newman&#8221;.<\/p>\n\n\n\n<p>Newman was more precise and quick than Graham in terms of corporate liquidation and arbitrage. When Buffett later joined the company, he estimated that liquidation and arbitrage were almost the main source of profit for Graham-Newman, and that profits in this area had been at least more than 20% for thirty years, which was not easy.<\/p>\n\n\n\n<p>In addition, Bernard Baruch, a big figure in American politics and investment circles, had been paying attention to Graham for a long time, and the two had collaborated on some investment cases. But when Bernard Baruch invited Graham to form a partnership, Graham refused.<\/p>\n\n\n\n<p>Bernard. When Baruch and Graham met, they both agreed that the U.S. stock market had risen too much and a collapse was inevitable sooner or later. Bernard Baruch sold all his stocks in October before the Great Crash, but Graham later recalled that he did not take this warning seriously, so that the assets he managed fell by more than 50%, causing Graham to suffer during the Great Crash. Fortunately, some customers still supported him, and his and Newman&#8217;s persistence enabled the company to survive.<\/p>\n\n\n\n<p>The company continued to operate until Graham&#8217;s retirement in 1956. Graham-Newman &amp; Co. dissolved.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Graham-Newmans_simple_goal\"><\/span>Graham-Newman&#8217;s simple goal<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Graham-Newman wrote down the company&#8217;s simple operating objectives in its annual report:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>After careful analysis, we only invest in securities whose market value is below their true value, especially below their liquidation price.<\/li>\n\n\n\n<li>Engage in various arbitrage and hedging investments in the securities market.<\/li>\n<\/ul>\n\n\n\n<p>Annual report said: &#8220;Based on the above strategy, we do not attach importance to predicting the securities market based on the past performance of individual stocks.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Graham-Newman_investment_returns\"><\/span>Graham-Newman investment returns<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Generally speaking, Graham-Newman had a very poor return on investment during the one or two years after the Great Crash, and the company almost went bankrupt. After learning his lesson, Graham began to pay attention to safety margins, financing, various downside protections, and increasing the proportion of bonds and diversified investments. After that, even more than a decade later, when the U.S. stock market had still not recovered from the Great Crash, Graham-Newman was still well compensated. Provide satisfactory compensation to long-term customers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Teaching\"><\/span>Teaching<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Graham continued to develop his talents and began teaching a course on security analysis at Columbia University in the evenings. The characteristic of his courses was that they all used existing market cases as teaching content, thus attracting many people from Wall Street to attend.<\/p>\n\n\n\n<p>In addition to teaching at Columbia University, he was invited by the father of George Shultz, who later became Secretary of State, to teach at the New York Institute of Finance for employees of the New York Stock Exchange.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Publication\"><\/span>Publication<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It is particularly worth mentioning that Todd was Graham&#8217;s student in the first class of the securities analysis course at Columbia University, and was responsible for recording all the contents of each class. This was also the origin of the two people&#8217;s collaboration in publishing the book &#8220;<a href=\"https:\/\/www.amazon.com\/Security-Analysis-Foreword-Buffett-Editions\/dp\/0071592539\" target=\"_blank\" rel=\"noopener\">Security Analysis<\/a>&#8221; at the end of 1934.<\/p>\n\n\n\n<p>In 1936, Graham published &#8220;<a href=\"https:\/\/www.amazon.com\/Interpretation-Financial-Statements-Benjamin-Graham\/dp\/0887309135\" target=\"_blank\" rel=\"noopener\">The Interpretation of Financial Statement<\/a>&#8220;. This is a very thin book with very brief content, but it will be very helpful for investors who want to understand financial statements, especially beginners.<\/p>\n\n\n\n<p>In 1949, Graham published &#8220;<a href=\"https:\/\/www.amazon.com\/Intelligent-Investor-Definitive-Investing-Essentials\/dp\/0060555661\" target=\"_blank\" rel=\"noopener\">The Intelligent Investor<\/a>&#8220;, which can be regarded as a simplified version of &#8220;<a href=\"https:\/\/www.amazon.com\/Security-Analysis-Foreword-Buffett-Editions\/dp\/0071592539\" target=\"_blank\" rel=\"noopener\">Security Analysis<\/a>&#8220;. It is more acceptable to the general public and is not as difficult to understand as &#8220;<a href=\"https:\/\/www.amazon.com\/Security-Analysis-Foreword-Buffett-Editions\/dp\/0071592539\" target=\"_blank\" rel=\"noopener\">Security Analysis<\/a>&#8220;. This is also the work that established Graham as the father of securities investment in the minds of ordinary people.<\/p>\n\n\n\n<p>Graham later published two books related to economics, but they were not as well-known as the three listed above. The views in one of the books were even different from those of Keynes, and Keynes even wrote to express his different views on the book.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Data_leakage\"><\/span>Data leakage<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Graham and the company&#8217;s most senior employee, Walter Schloss, both revealed that because they inadvertently mentioned the company&#8217;s investment portfolio while having dinner or talking with friends, the prices of these stocks suddenly increased, making it impossible for the company to buy them as originally planned. From then on, Graham and company employees strictly restricted themselves from mentioning the names of any stocks invested by the company on any occasion. Buffett learned this lesson and suffered similar losses after establishing Buffett Partnership. Therefore, he no longer talked about stocks in company transactions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Investment_advice_for_women\"><\/span>Investment advice for women<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In 1952, Graham wrote a column for Mademoiselle magazine titled &#8220;How Do You Get Started Investing?&#8221; In a modest but practical tone, he wrote: &#8220;Women are geniuses at using finances when it comes to buying everyday items. \u2026 If you&#8217;re going to buy stocks, do it the same way you buy groceries. Just don&#8217;t let your makeup-buying nature show up.&#8221;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"90\" height=\"138\" src=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2025\/05\/Benjamin-Graham-on-Value-Investing-Custom.jpg\" alt=\"Benjamin Graham on Value Investing\" class=\"wp-image-36547\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"block-9d402b81-75c9-41fa-9a2d-6be1252e074e\"><span class=\"ez-toc-section\" id=\"Related_articles\"><\/span>Related articles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/04\/13\/of-permanent-value\/\">&#8220;Of Permanent Value&#8221;<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/05\/24\/warren-buffett-speaks\/\">&#8220;Warren Buffett Speaks&#8221;<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/04\/24\/buffett-and-munger-unscripted\/\">&#8220;Buffett and Munger Unscripted &#8211; Selected transcript from Berkshire Hathaway shareholder meeting Q&amp;A &#8220;<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/17\/buffettology\/\">&#8220;Buffettology&#8221;<\/a><\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/06\/16\/warren-buffett-investor\/\"><\/a><a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/06\/16\/warren-buffett-investor\/\">Primer&#8217;s book to know Buffett-&#8220;Warren Buffett: Investor and Entrepreneur&#8221;<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/04\/27\/tap-dancing-to-work\/\">Buffett&#8217;s most important original book &#8220;Tap Dancing to Work&#8221;<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/27\/benjamin-graham-on-value-investing-grahams-bio-book\/\">&#8220;Benjamin Graham on Value Investing&#8221;, Graham&#8217;s bio book<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/07\/27\/warren-buffetts-ground-rules\/\">The Chronicle of Buffett Partners &#8220;Warren Buffett&#8217;s Ground Rules<\/a>&#8220;<\/li>\n\n\n\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/12\/12\/jesse-livermores-methods-of-trading-in-stocks\/\">&#8220;Jesse Livermore\u2019s Methods Of Trading In Stocks&#8221;<\/a><\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/07\/27\/warren-buffetts-ground-rules\/\">The Chronicle of Buffett Partners &#8220;Warren Buffett&#8217;s Ground Rules<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/04\/27\/buffett-portfolio\/\" target=\"_blank\" rel=\"noreferrer noopener\">The commonalities of Buffett portfolio \u2013 cheap, fixed income, repurchase<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/\">Possibility of long-term holdings, Deep dive on Buffett&#8217;s case<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/03\/20\/long-term-investment\/\">How Buffett Structures His Long-Term Investment Portfolio<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/04\/07\/buffett-deserves-study\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why Buffett deserves further study?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/12\/07\/buffett-investment-idea\/\">What helps Buffett to get his investment idea?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/22\/berkshire-shareholder-letter\/\">Buffett&#8217;s 2025 Berkshire Shareholder Letter<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/02\/25\/2024-shareholder-letter\/\" target=\"_blank\" rel=\"noreferrer noopener\">Buffett&#8217;s 2024 Annual Shareholder Letter<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/02\/26\/2023-shareholder-letter\/\" target=\"_blank\" rel=\"noreferrer noopener\">Buffett&#8217;s 2023 Annual Shareholder Letter<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/05\/05\/2024-berkshire-shareholders-meeting-transcript-and-video\/\" target=\"_blank\" rel=\"noreferrer noopener\">2024 Berkshire shareholders meeting transcript and video<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/05\/09\/shareholders-meeting\/\" target=\"_blank\" rel=\"noreferrer noopener\">2023 Berkshire shareholders meeting transcript and video<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/07\/26\/buffetts-first-tv-interview\/\">Buffett&#8217;s first TV interview<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/04\/17\/buffett-squawk-box\/\">Full transcript of Buffett&#8217;s interview with CNBC&#8217;s Squawk Box<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/08\/27\/charlie-munger\/\">Charlie Munger, a great investor worth remembering<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/05\/21\/poor-charlies-almanack\/\" target=\"_blank\" rel=\"noreferrer noopener\">Munger&#8217;s most important work &#8220;Poor Charlie&#8217;s Almanack&#8221;<\/a><\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/03\/06\/munger-daily-journals\/\">The Charlie Munger Way-Key points from Munger Daily Journal\u2019s 10 years of shareholder meetings<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/02\/17\/charlie-munger-2023-djco\/\">Charlie Munger speaks at 2023 Daily Journal Shareholders Meeting<\/a>&#8220;<\/li>\n<\/ul>\n\n\n\n<p><em><strong>Disclaimer<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>The content of this site is the author\u2019s personal opinions and is for reference only. I am not responsible for the correctness, opinions, and immediacy of the content and information of the article. Readers must make their own judgments.<\/em><\/li>\n\n\n\n<li><em>I shall not be liable for any damages or other legal liabilities for the direct or indirect losses caused by the readers&#8217; direct or indirect reliance on and reference to the information on this site, or all the responsibilities arising therefrom, as a result of any investment behavior.<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Benjamin Graham on Value Investing&#8221; mainly talks about two things:<br \/>\n-&#8220;Graham&#8217;s life, and this book is also equivalent to Graham&#8217;s biography. I have read another biography of Graham, which I personally found to be more interesting.<br \/>\n-&#8220;Value investing&#8221; advocated by Graham.<\/p>\n","protected":false},"author":1,"featured_media":36547,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50,403,8,32,11],"tags":[],"class_list":["post-36546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-benjamin-graham","category-bernard-baruch","category-investing-books","category-value-investing","category-buffett"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/36546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/comments?post=36546"}],"version-history":[{"count":18,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/36546\/revisions"}],"predecessor-version":[{"id":42394,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/36546\/revisions\/42394"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media\/36547"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media?parent=36546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/categories?post=36546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/tags?post=36546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}