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Tue. Apr. 21, 2009 D4L who is...

Who is Irving Kahn and Why Should We Listen to Him?

Last week we looked at confidence in your investing process and noted that true confidence comes from knowledge and experience. Knowing how your investing process works is important in gaining confidence, but real comfort only comes from having been there before and experiencing the gains after coming out of a downturn. Although experiencing tough times first hand, creates lasting memories it certainly is not pleasurable. Today we have the opportunity to learn from the experiences of someone who has lived through many downturns and profited from it.

Who is Raul Alvarez and Why Should We Listen to Him?

Raul Alvarez was born in Havana Cuba in 1955 into a very successful family. Before fleeing to the U.S. during Castro’s takeover, Raul’s mother worked as a marine biologist and his father was the President of Cuban Airways. Raul recalls, “As an immigrant, and losing everything they lost, [my parents] were so determined to ensure that their kids wouldn’t have to go through that and that they were absolutely self-sustaining.”

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Thu. Jul. 3, 2008 D4L who is...

Who is David Dodd and Why Should We Listen to Him

Smith & Wesson immediately means something to a person familiar with firearms. In much the same way, the phrase Graham and Dodd carries a lot of weight with value investors. David LeFevre Dodd, the lessor known of the two, was born in 1895. He was an educator and close colleague of Benjamin Graham at the Columbia Business School.

The 1929 stock market crash almost wiped out Graham. The crash inspired Graham to search for a more conservative, safer way to invest. Graham agreed to teach with the stipulation that someone take notes. David Dodd a young instructor at Columbia volunteered to be that someone. Those notes served as the basis for the 1934 book Security Analysis, which is considered the first book on value investing and is the longest running investment text ever published.

Who is Ben Grossbaum and Why Should We Listen to Him?

Ben Grossbaum was born on May 8, 1894 in London and moved to New York with his family when he was one year old. Young Ben was motivated by the death of his father and the humiliation of poverty. Wanting a better life, he became a model student, graduating as the class salutatorian from Columbia University at the age of 20.

Upon graduation, Ben received an invitation for employment as an instructor in English, Mathematics, and Philosophy, but instead he chose a job on Wall Street. Ben was a student of investing, spending great time studying and analyzing the financial state of companies. He was critical of the corporations for obfuscated and irregular financial reporting making it difficult for investors to discern the true state of the business’s finances. Many of convictions such as returning a portion of the company’s earnings to shareholders through dividend payments and not relying on future growth to justify a high price are still widely held beliefs by many today.

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Sat. May. 17, 2008 D4L who is...

Who is Jeremy J. Siegel and Why Should We Listen to Him?

Jeremy James Siegel, known as Wizard of Wharton, was born on November 14, 1945 in Chicago, IL. He has undergraduate degrees in Mathematics and Economics from Columbia University, and has a Ph.D from MIT. Currently Mr. Siegel is the Russell E. Palmer Professor of Finance at the Wharton School of Business at the University of Pennsylvania. Considered an expert on the economy and financial markets, he frequently appears on CNN, CNBC, NPR and is a regular columnist for Kiplinger’s.

For many, he may be better known for what was said about him by a very influential person. In a Q&A session at the 2006 Berkshire Hathaway annual meeting, Charlie Munger, Berkshire’s Vice Chairman was asked to comment on Siegel’s theories. Munger replied, “I think Jeremy Siegel is demented.” Warren Buffett, clearly a little embarrassed, added “Well he’s a very nice guy.” Munger continued, “He may well be a very nice guy, but he’s comparing apples to elephants in trying to make accurate projections about the future.”