I usually write on Safal Niveshak thrice a week, and on alternate days. So hearing from me two days back-to-back may seem odd to you.
But like a five-year old kid who wants to share with the world his new toy, I wanted to share with you a video I stumbled upon last night and could not wait to do that till Wednesday.
I couldn’t be patient like I try to be in my investing, so here I go! 🙂
This video showcases Graham giving a lecture (yes!), and also shares his students’ views on the legacy of this great man whom the world now knows as the ‘Father of Value Investing’.
Before you watch the video, here are five amazing quotes I’ve pulled out from the same, and which show the depth of Graham’s teachings that are still valid more than 80 years after he first taught them.
1. “The explanation cannot be found in any mathematics but has to be found in investor psychology. You can have an extraordinary difference in the price level nearly because, not only speculators but investors themselves, are looking at the situation through rose-colored glasses rather than dark blue glasses.” – Graham to students
2. “Ben Graham opened the course by saying, “If you want to make money on Wall Street you must have the proper psychological attitude. No one expresses it better than Spinoza the philosopher. Spinoza said, “You must look at things in the aspect of eternity.” – Marshall Weinberg on Graham
3. “Warren, don’t worry too much about making money. It won’t change the way you live. It’ll change the way our wives live. But look, you and I are wearing the same clothes and eating in the same cafeteria. So relax.” – Graham to Warren Buffett
4. “I don’t think necessarily, he realized what an impact he as making. He was a very modest man. Everything was experimental. Everything was new. Everything was exciting.” ~ Edwin Schloss on Graham
5. “He said everyday he wanted to do something foolish, something creative, and something generous.” – Warren Buffett on Graham
Finally, here’s the icing on the cake.
A student asks Graham – “This question concerns the so called “Wall Street professional”. Are Wall Street professionals usually more accurate in their near or long-term market trends, forecasts of stock market trends?”
Graham responds – “Well, we’ve been following that interesting question for a generation or more. And I must say frankly our studies indicate that you have your choice of tossing coins or taking the consensus of expert opinion, and the results are just about the same in each case.” 🙂
Now, without much ado, I am happy to share with you something that gave me goose bumps a few hours back.
If you follow Graham as well, this may well be the video of the year for you. 🙂
If you can’t see the video above, click here.