Book Review : Benjamin Graham on Investing

Reading an author ’s early writing allows us to see juvenile attempts at expressing a message more fully developed in that author’s later works. Having read through the Intelligent Investor and Security Analysis a few times, reading Benjamin Graham on Investing was an interesting opportunity to do just this.
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5 Facts about Benjamin Graham

Benjamin Graham is known as the father of value investing and is probably one of the most well read and studied investor of the 20th century.  While his most famous work The Intelligent Investor is read in business schools around the word,  not much is known about the man behind the writing. Much of this is due to the quite reserved life that Graham lead and some also to the fact that he existed before the era of the celebrity investor to understand any author’s great works requires some back ground so I present to you these 5 facts about Benjamin Graham:
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Banks Stopped Investing and Started Speculating

Over Christmas I have had a bit of a chance to catch up on some reading, one of the books I read through was Garrett Gunderson’s Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity. In Gunderson’s book he suggests individuals look at investing in the same way that banks do as they have been so extremely efficient. As Gunderson puts it banks mitigate investment risk in personal loans by doing the following:
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Graham vs. Greenblatt (Session 5) Bringing it all Together

We made it to the final installment of our Graham vs. Greenblatt series. Throughout the series we examined each of the ratios that Greenblatt recommended in his book The Little Book that Beats the Market. The final posting will look at how Greenblatt draws the ratios together and bring this all back around, so lets get into it.
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Buy a Company with a Future (Current Ratio) (Session 5)

Current ratio is an important one; it shows us how the company will survive in the short term. As I mentioned earlier there are reasons why the company is currently cheap our job is to figure out why and also to build in a safety margin to make sure they are going to survive the reason they are so cheap.
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Buy on the Cheap (Price/Book Ratio) (Session 4)

If you made it through price to earnings ratio, price to book ratio will be a piece of cake.
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Buy on the Cheap (Price/Earnings) (Session2)

To follow up our Graham intro we will investigate Graham’s first insurance technique of buying on the cheap. Graham used a number of ratios to determine if a company is cheap. The first ratio we need to look at is the Price/Earnings ratio.
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Graham Security Analysis (Session 1)

Benjamin Graham had a great investment philosophy. Find great companies determine their intrinsic value and then only buy them when they are cheap. Or as Graham puts it: apply a set of standards to each purchase, to make sure that he obtains (1) a minimum of quality in the past performance and current financial position of the company, and also (2) a minimum of quantity in terms of earnings and assets per dollar of price. The Intelligent Investor P347-348 Harper Collins Edition 2003 Read More...