VIDEO & GALLERY
Benjamin Graham’s Lost Chapter. In the 1962 edition of Security Analysis Graham wrote a chapter titled, "Newer Methods for Valuing Growth Stocks". As the title implies, this chapter was a detailed instruction on how to value growth stocks. Interestingly, in subsequent editions of Security Analysis this chapter was removed and has never been reprinted. Of course, there are two ironies: 1) Geico was a growth stock and Graham's biggest winner, and 2) Graham is famous for his net-net style of investing, which by today’s standards, is completely opposite of a “growth stock”. Was Graham’s investment philosophy changing? How would Graham view growth investing today?