Born: May 8, 1894 in London, England
Died: September 21, 1976 Aix-
Benjamin Graham was an influential economist and investor who is often called "the father of investing. Graham was born in London in 1894 and immigrated to the USA with his family at 1 year of age where his father started an importing business. His original surname was Grossbaum but later changed to Graham.
His father died not long after moving to America and his mother lost the families savings in an economic crisis. Graham was a bright student and managed to get into Columbia University.
After graduating in 1914 with a bachelor's degree, he was offered a teaching position at the University, but declined it to work as a chalker on Wall Street with Newburger, Henderson and Loeb. He soon started doing research for the company which lead to him becoming a partner with a salary of over $500,000 a year at just 25 years of age.
In 1926, Graham and a broker called Jerome Newman formed an investment partnership, while he also started lecturing at night on finance at Columbia University, which he would continue to do until he retired in 1956. In 1929 a stock market crash almost sent Graham broke but the partnership survived with help from friends and the sale of most their personal assets, while Graham's wife returned to work as a dance teacher. In 1934, Graham and another Columbian academic called David Dodd published the book "Security Analysis” which has continued to sell even today. In 1949, Graham also wrote the book “The Intelligent Investor”, often considered the Bible of investing. That book too has never been out of print.
The investment partnership between Graham and Newman continued up to 1956 and never again lost money for its investors, returning about 17 per cent. Graham also retired from writing and lecturing at Columbia in 1956. Benjamin Graham died in 1976, with the reputation of being the “Father of investing”.