Benjamin Graham, the author of the great book “The Intelligent Investor”, believed that every day it’s important to remember to do “something foolish, something creative and something generous”.
Walter Lippman, a person who showed a deep admiration for Benjamin Graham, used to speak about Benjamin Graham as the man who plant trees that other man will sit under.
When he was twenty years only, Benjamin Graham felt a call for the Wall Street’s world and he decided to give a shot. He was a clerk before becoming an analyst, then a partner and in time he developed his own partnership investment.
What is he expecting to accomplish by writing the book “The Intelligent Investor”?
Benjamin Graham thinks it is important to pay attention to investment principles and investors’ attitudes. To invest intelligently in securities “one should be fore-armed with an adequate knowledge of how the various types of bonds and stocks have actually behaved under varying conditions”. In this consideration, no statement is more true and better applicable to Wall Street than the famous warning of Santayanas: “Those who do not remember the past are condemned to repeat it”.
The author, moreover, is making a difference between an investor and a speculator. Like in a love relationship, investing feelings is different than speculating the other with big words and big promisses.
With this end in my mind, it is recommended to continue to devote attention to the possibilities for enterprising investment as they existed in former periods and may return because the art of successful investment lies first in the choice of those industries that are most likely to grow in the future and then in identifying the most promising companies in these industries.
Writing About Economics and Finance 