19 of 21 people found the following review helpful
Well done work on Graham and value investing!,
This review is from: The Einstein of Money: The Life and Timeless Financial Wisdom of Benjamin Graham (Hardcover)
Joe Carlen provides a detailed and insightful introduction to Graham and his work. His book is straightforward enough to be understandable to readers unfamiliar with value investing and also detailed enough to appeal to those seeking a deeper understanding of Graham's history and philosophy.
As was mentioned in a previous review, one of the most beneficial features of the book is its structure, which jumps back and forth between the biographical narrative of Graham's life and a survey of the value investing principles Graham formulated. All the while, Carlen links the development of each aspect of value investing theory with parts of Graham's life that informed it.
However, in my opinion, the best parts of the book deal with Graham's actual life. After all, Graham's life story provides amazing material to work with! He led a fascinating existence and could be termed a bona fide renaisance man. He enjoyed and excelled in arts, theater, literature, travelling, language -- so much beyond the boundaries of finance.
This, however, is not to diminish the parts about value investing. They are also very well done. But, of course, Graham himself also wrote a number of books on his theories, including Security Anlysis and The Intelligent Investor. So, for me, reading about his life was the most interesting part of all.
Importantly, Carlen interweaves the theory and the life story -- which has never, to my knowledge, been done in a book about Graham. And he does it in a way that everyone (including those without an overwhelming background or even interest in fianance) will enjoy immensely. Most importantly, I think that all will delight in reading about Graham's theories by virtue of their status in the investment community. Value investing is regarded by many investors as the holy grail of investment theories. Its principles have stood the test of time, outperforming over long, long periods just about every other stock market strategy. This alone is good reason to pick up this book (and others on value investing).
All in all, the Einstein of Money was enjoyable and informative (and NOT "plumped up" or repetitive, as another reviewer incorrectly suggested). Carlen tackles the material with the right structure and appropriate level of complexity. Almost no readers will find the material inaccessible and, in fact, I would argue that they will get a real kick out of it. It's a worthy addition to the pantheon of books on Graham and value investing.