13 of 16 people found the following review helpful
Excellent Introduction to Graham - This review was written by the author of "Applied Value Investing",
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This review is from: The Einstein of Money: The Life and Timeless Financial Wisdom of Benjamin Graham (Hardcover)
After the publication of my book a number of publishers contacted me about potential topics for another book. In response, I recommended a book that collected Ben Graham's articles but they told me someone was already doing that (i.e., "Benjamin Graham: Building a Profession," 2010). They then stated the following: "You know, no-one has written a biography of Ben Graham, and they really should. What do you think?" While I agreed the need was certainly there, I knew I was not the right person to undertake such a project (I am not a biographer) so I turned it down. I am certainly glad that I did for Joe Carlen has done a splendid job in his new biography of Mr. Graham.
One of the main challenges of a project like this was how to deal with the breadth of Mr. Graham's life and theories in one volume that is readily assessable to lay readers. Mr. Carlen accomplishes this by inter-weaving chapters on Mr. Graham's life with those on his theories. This is a novel way of addressing the subject, and one that puts Mr. Graham's theories into context, which is important because Mr. Graham was a product of his times, as we all are, and therefore understanding his times facilitates greater understanding of his theories. The result, as Howard Marks of Oaktree Capital Management stated, is "a lucid introduction to Graham and his ideas, and as such does investors a real service. Its message is an essential one."
The only nit I have is with the title, "The Einstein of Money." In a review, Roger Lowenstein likened Mr. Graham more to Descartes than Einstein, but I would go further and liken him to Isaac Newton, creator of classical physics and calculus. After all, Mr. Graham also founded a discipline (Security Analysis) as well as a method of analysis (value investing). Nevertheless, Mr. Graham was both a genius and a highly independent thinker, like Einstein was, so the title is accurate. More importantly though, this book helps to explain why Mr. Graham "is still a hero to" Mr. Buffett, as well as to countless other financial professionals--including me.