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  • Is Cisco Undervalued? [View article]
    The Graham formula the article is referring to is a variation of the following:
    Intrinsic Value = EPS x (8.5 + 2xGrowth)

    Benjamin Graham actually gave several warnings with this formula and only used it to demonstrate that the market's growth rate expectations were never reliable. But due to an omission in recent editions of The Intelligent Investor, this formula is often mistakenly used today to value stocks instead of Graham's actual (and more thorough) methods.

    Article: Understanding The Benjamin Graham Formula Correctly (http://seekingalpha.co...) discusses the issue in detail.

    Graham's first recommended strategy - for novice investors - was to invest in Index stocks.
    For more serious investors, Graham recommended three different categories of stocks - Defensive, Enterprising and NCAV - and 17 qualitative and quantitative rules for identifying them.
    For professional investors, Graham described various special situations or "workouts".

    For example, given below are the actual Graham ratings for Cisco Systems Inc (CSCO), with no adjustments other than those for inflation.

    Defensive Graham investment requires that all ratings be 100% or more.
    Enterprising Graham investment requires minimum ratings of - N/A, 75%, 90%, 50%, 5%, N/A and 137%.

    Cisco Systems Inc - Graham Ratings
    Sales | Size (100% ⇒ $500 Million): 9,616.00%
    Current Assets ÷ [2 x Current Liabilities]: 169.40%
    Net Current Assets ÷ Long Term Debt: 231.88%
    Earnings Stability (100% ⇒ 10 Years): 100.00%
    Dividend Record (100% ⇒ 20 Years): 25.00%
    Earnings Growth (100% ⇒ 30% Growth): 124.87%
    Graham Number ÷ Previous Close: 68.90%

    Note: Stocks failing Graham's rules are not necessarily bad investments. They may fall under Graham's "special situations" category. Graham's rules are also extremely selective.
    Jun 19, 2015. 05:49 PM | 1 Like Like |Link to Comment
  • Analog Devices Is A Great Company But Currently Overvalued [View article]
    The ModernGraham website cites the following formula as one of the Graham methods applied:
    Intrinsic Value = EPS x (8.5 + 2xGrowth)

    Benjamin Graham actually gave several warnings with this formula and only mentioned it briefly to demonstrate why the market's growth rate expectations are rarely justified. But due to an omission in recent editions of The Intelligent Investor, this formula is often mistakenly used today to value stocks instead of Graham's actual (and more thorough) methods.

    Article: Understanding The Benjamin Graham Formula Correctly (http://seekingalpha.co...) discusses the issue in detail.

    Another rule mentioned in the above article is:
    "Adequate Size of Enterprise - market capitalization of at least $2 billion"

    Graham actually recommended "Not less than $100 million of annual sales" for this rule. Checking for Market Capitalization instead of Sales will - all else being equal - rate overvalued stocks better than undervalued ones.

    Graham's first recommended strategy - for casual investors - was to invest in Index stocks.
    For more serious investors, Graham recommended three different categories of stocks - Defensive, Enterprising and NCAV - and 17 qualitative and quantitative rules for identifying them.
    For advanced investors, Graham described various special situations or "workouts".

    For example, given below are the actual Graham ratings for Analog Devices Inc (ADI), with no adjustments other than those for inflation.

    Defensive Graham investment requires that all ratings be 100% or more.
    Enterprising Graham investment requires minimum ratings of - N/A, 75%, 90%, 50%, 5%, N/A and 137%.

    Analog Devices Inc - Graham Ratings
    Sales | Size (100% ⇒ $500 Million): 602.00%
    Current Assets ÷ [2 x Current Liabilities]: 268.83%
    Net Current Assets ÷ Long Term Debt: 355.44%
    Earnings Stability (100% ⇒ 10 Years): 100.00%
    Dividend Record (100% ⇒ 20 Years): 65.00%
    Earnings Growth (100% ⇒ 30% Growth): 117.13%
    Graham Number ÷ Previous Close: 39.41%

    Note: Stocks failing Graham's rules are not necessarily bad investments. They may fall under Graham's "special situations" category. Graham's rules are also extremely selective.
    Jun 19, 2015. 05:37 PM | Likes Like |Link to Comment
  • Hedge Funds Following Buffett Into IBM [View article]
    Benjamin Graham - also known as The Dean of Wall Street and The Father of Value Investing - was a scholar and financial analyst who mentored legendary investors such as Warren Buffett, William J. Ruane, Irving Kahn and Walter J. Schloss.

    Warren Buffett once gave a speech at Columbia Business School explaining how Graham's record of creating exceptional investors (such as Buffett himself) is unquestionable, and how Graham's principles are everlasting. The speech is now known as "The Superinvestors of Graham-and-Doddsville".

    Graham's first recommended strategy - for casual investors - was to invest in Index stocks.
    For more serious investors, Graham recommended three different categories of stocks - Defensive, Enterprising and NCAV - and 17 qualitative and quantitative rules for identifying them.
    For advanced investors, Graham described various special situations or "workouts".

    The first requires almost no analysis, and is easily accomplished today with a good S&P500 Index fund.
    The last requires more than the average level of ability and experience. Such stocks are also not amenable to impartial algorithmic analysis, and require a case-specific approach.

    But Defensive, Enterprising and NCAV stocks can be reliably detected by today's data-mining software, and offer a great avenue for accurate automated analysis and profitable investment.

    For example, given below are the actual Graham ratings for International Business Machines Corp (IBM), with no adjustments other than those for inflation.

    Defensive Graham investment requires that all ratings be 100% or more.
    Enterprising Graham investment requires minimum ratings of - N/A, 75%, 90%, 50%, 5%, N/A and 137%.

    International Business Machines Corp - Graham Ratings
    Sales | Size (100% ⇒ $500 Million): 18,030.00%
    Current Assets ÷ [2 x Current Liabilities]: 62.40%
    Net Current Assets ÷ Long Term Debt: 28.00%
    Earnings Stability (100% ⇒ 10 Years): 100.00%
    Dividend Record (100% ⇒ 20 Years): 100.00%
    Earnings Growth (100% ⇒ 30% Growth): 172.99%
    Graham Number ÷ Previous Close: 35.50%

    Note: Stocks failing Graham's rules are not necessarily bad investments. They may fall under Graham's "special situations" category. Graham's rules are also extremely selective.
    Jun 18, 2015. 04:15 PM | Likes Like |Link to Comment
  • Chubb Corporation Is A Great Company At A Fair Price [View article]
    The ModernGraham website cites the following formula as one of the Graham methods applied:
    Intrinsic Value = EPS x (8.5 + 2xGrowth)

    Benjamin Graham actually gave several warnings with this formula and only mentioned it briefly to demonstrate why the market's growth rate expectations are rarely justified. But due to an omission in recent editions of The Intelligent Investor, this formula is often mistakenly used today to value stocks instead of Graham's actual (and more thorough) methods.

    Article: Understanding The Benjamin Graham Formula Correctly (http://seekingalpha.co...) discusses the issue in detail.

    Another rule mentioned in the above article is:
    "Adequate Size of Enterprise - market capitalization of at least $2 billion"

    Graham actually recommended "Not less than $100 million of annual sales" for this rule. Checking for Market Capitalization instead of Sales will - all else being equal - rate overvalued stocks better than undervalued ones.

    Graham's first recommended strategy - for casual investors - was to invest in Index stocks.
    For more serious investors, Graham recommended three different categories of stocks - Defensive, Enterprising and NCAV - and 17 qualitative and quantitative rules for identifying them.
    For advanced investors, Graham described various special situations or "workouts".

    For example, given below are the actual Graham ratings for Chubb Corp (CB), with no adjustments other than those for inflation.

    Defensive Graham investment requires that all ratings be 100% or more.
    Enterprising Graham investment requires minimum ratings of - N/A, 75%, 90%, 50%, 5%, N/A and 137%.

    Chubb Corp - Graham Ratings
    Sales | Size (100% ⇒ $500 Million): 2,822.00%
    Current Assets ÷ [2 x Current Liabilities]: 0.67%
    Net Current Assets ÷ Long Term Debt: 0.00%
    Earnings Stability (100% ⇒ 10 Years): 100.00%
    Dividend Record (100% ⇒ 20 Years): 100.00%
    Earnings Growth (100% ⇒ 30% Growth): 100.99%
    Graham Number ÷ Previous Close: 112.99%

    Note: Stocks failing Graham's rules are not necessarily bad investments. They may fall under Graham's "special situations" category. Graham's rules are also extremely selective.
    Jun 18, 2015. 04:13 PM | Likes Like |Link to Comment
  • Simple Sector Adjustment For Value Investing [View article]
    Thank you for your reply, Boris Marjanovic!

    Can we agree that quality is a measure of "how good" something is, whereas quantity tells us "how much" we're getting for our money?

    If we can, then of the seven Graham ratings given above, only the last one is a price dependent quantitative measure.
    The other six are minimum qualitative requirements.

    The stock needs to meet the first six minimum requirements to be eligible for investment, but they become irrelevant once the minimum value is surpassed.
    On the other hand, the last rating directly affects Graham's permissible price for the stock.

    Graham gave very objective measurements for both stock quality (Growth and Stability) and quantity (EPS and BVPS).
    Jun 14, 2015. 05:46 PM | Likes Like |Link to Comment
  • Simple Sector Adjustment For Value Investing [View article]
    While quantitative methods do have have a lot to be said for them, it may not be a good idea to ignore qualitative factors altogether.

    Warren Buffett once said:
    "In the business world, the rearview mirror is always clearer than the windshield."

    Almost any strategy can be proven to be superlative in retrospect.

    Benjamin Graham - also known as The Dean of Wall Street and The Father of Value Investing - was a scholar and financial analyst who mentored legendary investors such as Warren Buffett, William J. Ruane, Irving Kahn and Walter J. Schloss.

    Warren Buffett once gave a speech at Columbia Business School explaining how Graham's record of creating exceptional investors (such as Buffett himself) is unquestionable, and how Graham's principles are everlasting. The speech is now known as "The Superinvestors of Graham-and-Doddsville".

    Graham's first recommended strategy - for casual investors - was to invest in Index stocks.
    For more serious investors, Graham recommended three different categories of stocks - Defensive, Enterprising and NCAV - and 17 qualitative and quantitative rules for identifying them.
    For advanced investors, Graham described various special situations or "workouts".

    For example, given below are the Graham ratings for The AES Corporation (AES), with no adjustments other than those for inflation.

    Defensive Graham investment requires that all ratings be 100% or more.
    Enterprising Graham investment requires minimum ratings of - N/A, 75%, 90%, 50%, 5%, N/A and 137%.

    The AES Corporation - Graham Ratings
    Sales | Size (100% ⇒ $500 Million): 3,430.00%
    Current Assets ÷ [2 x Current Liabilities]: 55.92%
    Net Current Assets ÷ Long Term Debt: 16.23%
    Earnings Stability (100% ⇒ 10 Years): 20.00%
    Dividend Record (100% ⇒ 20 Years): 20.00%
    Earnings Growth (100% ⇒ 30% Growth): 116.34%
    Graham Number ÷ Previous Close: 68.37%

    Note: Stocks failing Graham's rules are not necessarily bad investments. They may fall under Graham's "special situations" category. Graham's rules are also extremely selective.
    Jun 13, 2015. 12:30 PM | Likes Like |Link to Comment
  • Is Warren Buffett A Value Investor? [View article]
    Hopefully, they will.

    As Irving Kahn said:
    "Graham's principles, though relevant as ever, were increasingly being drowned out by noise."

    Thank you for your comments!
    Jun 13, 2015. 12:21 PM | Likes Like |Link to Comment
  • Aflac Has Great Potential For Value Investors [View article]
    The ModernGraham website cites the following formula as one of the Graham methods applied:
    Intrinsic Value = EPS x (8.5 + 2xGrowth)

    Benjamin Graham actually gave several warnings with this formula and only mentioned it briefly to demonstrate why the market's growth rate expectations are rarely justified. But due to an omission in recent editions of The Intelligent Investor, this formula is often mistakenly used today to value stocks instead of Graham's actual (and more thorough) methods.

    Article: Understanding The Benjamin Graham Formula Correctly (http://seekingalpha.co...) discusses the issue in detail.

    Another rule mentioned in the above article is:
    "Adequate Size of Enterprise - market capitalization of at least $2 billion"

    Graham actually recommended "Not less than $100 million of annual sales" for this rule. Checking for Market Capitalization instead of Sales will - all else being equal - rate overvalued stocks better than undervalued ones.

    Graham's first recommended strategy - for casual investors - was to invest in Index stocks.
    For more serious investors, Graham recommended three different categories of stocks - Defensive, Enterprising and NCAV - and 17 qualitative and quantitative rules for identifying them.
    For advanced investors, Graham described various special situations or "workouts".

    For example, given below are the actual Graham ratings for Aflac Inc (AFL), with no adjustments other than those for inflation.

    Defensive Graham investment requires that all ratings be 100% or more.
    Enterprising Graham investment requires minimum ratings of - N/A, 75%, 90%, 50%, 5%, N/A and 137%.

    Aflac Inc - Graham Ratings
    Sales | Size (100% ⇒ $500 Million): 4,522.00%
    Current Assets ÷ [2 x Current Liabilities]: 0.00%
    Net Current Assets ÷ Long Term Debt: 0.00%
    Earnings Stability (100% ⇒ 10 Years): 100.00%
    Dividend Record (100% ⇒ 20 Years): 100.00%
    Earnings Growth (100% ⇒ 30% Growth): 161.12%
    Graham Number ÷ Previous Close: 123.57%

    Note: Stocks failing Graham's rules are not necessarily bad investments. They may fall under Graham's "special situations" category. Graham's rules are also extremely selective.
    Jun 12, 2015. 04:25 PM | Likes Like |Link to Comment
  • Pfizer Inc. Is A Great Opportunity For Value Investors [View article]
    The ModernGraham website cites the following formula as one of the Graham methods applied:
    Intrinsic Value = EPS x (8.5 + 2xGrowth)

    Benjamin Graham actually gave several warnings with this formula and only mentioned it briefly to demonstrate why the market's growth rate expectations are rarely justified. But due to an omission in recent editions of The Intelligent Investor, this formula is often mistakenly used today to value stocks instead of Graham's actual (and more thorough) methods.

    Article: Understanding The Benjamin Graham Formula Correctly (http://seekingalpha.co...) discusses the issue in detail.

    Another rule mentioned in the above article is:
    "Adequate Size of Enterprise - market capitalization of at least $2 billion"

    Graham actually recommended "Not less than $100 million of annual sales" for this rule. Checking for Market Capitalization instead of Sales will - all else being equal - rate overvalued stocks better than undervalued ones.

    Graham's first recommended strategy - for casual investors - was to invest in Index stocks.
    For more serious investors, Graham recommended three different categories of stocks - Defensive, Enterprising and NCAV - and 17 qualitative and quantitative rules for identifying them.
    For advanced investors, Graham described various special situations or "workouts".

    For example, given below are the actual Graham ratings for Pfizer Inc (PFE), with no adjustments other than those for inflation.

    Defensive Graham investment requires that all ratings be 100% or more.
    Enterprising Graham investment requires minimum ratings of - N/A, 75%, 90%, 50%, 5%, N/A and 137%.

    Pfizer Inc - Graham Ratings
    Sales | Size (100% ⇒ $500 Million): 9,922.00%
    Current Assets ÷ [2 x Current Liabilities]: 133.38%
    Net Current Assets ÷ Long Term Debt: 114.36%
    Earnings Stability (100% ⇒ 10 Years): 100.00%
    Dividend Record (100% ⇒ 20 Years): 100.00%
    Earnings Growth (100% ⇒ 30% Growth): 103.03%
    Graham Number ÷ Previous Close: 68.82%

    Note: Stocks failing Graham's rules are not necessarily bad investments. They may fall under Graham's "special situations" category. Graham's rules are also extremely selective.
    Jun 12, 2015. 04:23 PM | 1 Like Like |Link to Comment
  • Halliburton Company Is Financially Strong But Overvalued [View article]
    The ModernGraham website cites the following formula as one of the Graham methods applied:
    Intrinsic Value = EPS x (8.5 + 2xGrowth)

    Benjamin Graham actually gave several warnings with this formula and only mentioned it briefly to demonstrate why the market's growth rate expectations are rarely justified. But due to an omission in recent editions of The Intelligent Investor, this formula is often mistakenly used today to value stocks instead of Graham's actual (and more thorough) methods.

    Article: Understanding The Benjamin Graham Formula Correctly (http://seekingalpha.co...) discusses the issue in detail.

    Another rule mentioned in the above article is:
    "Adequate Size of Enterprise - market capitalization of at least $2 billion"

    Graham actually recommended "Not less than $100 million of annual sales" for this rule. Checking for Market Capitalization instead of Sales will - all else being equal - rate overvalued stocks better than undervalued ones.

    Graham's first recommended strategy - for casual investors - was to invest in Index stocks.
    For more serious investors, Graham recommended three different categories of stocks - Defensive, Enterprising and NCAV - and 17 qualitative and quantitative rules for identifying them.
    For advanced investors, Graham described various special situations or "workouts".

    For example, given below are the actual Graham ratings for Halliburton Co (HAL), with no adjustments other than those for inflation.

    Defensive Graham investment requires that all ratings be 100% or more.
    Enterprising Graham investment requires minimum ratings of - N/A, 75%, 90%, 50%, 5%, N/A and 137%.

    Halliburton Co - Graham Ratings
    Sales | Size (100% ⇒ $500 Million): 6,514.00%
    Current Assets ÷ [2 x Current Liabilities]: 128.06%
    Net Current Assets ÷ Long Term Debt: 117.16%
    Earnings Stability (100% ⇒ 10 Years): 100.00%
    Dividend Record (100% ⇒ 20 Years): 100.00%
    Earnings Growth (100% ⇒ 30% Growth): 84.81%
    Graham Number ÷ Previous Close: 79.35%

    Note: Stocks failing Graham's rules are not necessarily bad investments. They may fall under Graham's "special situations" category. Graham's rules are also extremely selective.
    Jun 11, 2015. 11:16 AM | 1 Like Like |Link to Comment
  • Did Ben Graham Value Investing Work In The Recent Bull Market? [View article]
    Graham's first recommended strategy - for casual investors - was to invest in Index stocks.
    For more serious investors, Graham recommended three different categories of stocks - Defensive, Enterprising and NCAV - and 17 qualitative and quantitative rules for identifying them.
    For advanced investors, Graham described various special situations or "workouts".

    The first requires almost no analysis, and is easily accomplished today with a good S&P500 Index fund.
    The last requires more than the average level of ability and experience. Such stocks are also not amenable to impartial algorithmic analysis, and require a case-specific approach.

    But Defensive, Enterprising and NCAV stocks can be reliably detected by today's data-mining software, and offer a great avenue for accurate automated analysis and profitable investment.

    For example, given below are the actual Graham ratings for Hanger Inc (HGR), with no adjustments other than those for inflation.

    Defensive Graham investment requires that all ratings be 100% or more.
    Enterprising Graham investment requires minimum ratings of - N/A, 75%, 90%, 50%, 5%, N/A and 137%.

    Hanger Inc - Graham Ratings
    Sales | Size (100% ⇒ $500 Million): 212.00%
    Current Assets ÷ [2 x Current Liabilities]: 165.09%
    Net Current Assets ÷ Long Term Debt: 59.07%
    Earnings Stability (100% ⇒ 10 Years): 70.00%
    Dividend Record (100% ⇒ 20 Years): 0.00%
    Earnings Growth (100% ⇒ 30% Growth): 495.10%
    Graham Number ÷ Previous Close: 108.67%

    Note: Stocks failing Graham's rules are not necessarily bad investments. They may fall under Graham's "special situations" category. Graham's rules are also extremely selective.
    Jun 8, 2015. 06:46 PM | Likes Like |Link to Comment
  • VF Corporation Is Fairly Valued And A Strong Company [View article]
    The ModernGraham website cites the following formula as one of the Graham methods applied:
    Intrinsic Value = EPS x (8.5 + 2xGrowth)

    Benjamin Graham actually gave several warnings with this formula and only mentioned it briefly to demonstrate why the market's growth rate expectations are rarely justified. But due to an omission in recent editions of The Intelligent Investor, this formula is often mistakenly used today instead of Graham's actual (and more thorough) methods of stock valuation.

    Article: Understanding The Benjamin Graham Formula Correctly (http://seekingalpha.co...) discusses the issue in detail.

    Another rule mentioned in the above article is:
    "Adequate Size of Enterprise - market capitalization of at least $2 billion"

    Graham actually recommended "Not less than $100 million of annual sales" for this rule. Checking for Market Capitalization instead of Sales will - all else being equal - rate overvalued stocks better than undervalued ones.

    Graham's first recommended strategy - for casual investors - was to invest in Index stocks.
    For more serious investors, Graham recommended three different categories of stocks - Defensive, Enterprising and NCAV - and 17 qualitative and quantitative rules for identifying them.
    For advanced investors, Graham described various special situations or "workouts".

    For example, given below are the actual Graham ratings for VF Corp (VFC), with no adjustments other than those for inflation.

    Defensive Graham investment requires that all ratings be 100% or more.
    Enterprising Graham investment requires minimum ratings of - N/A, 75%, 90%, 50%, 5%, N/A and 137%.

    VF Corp - Graham Ratings
    Sales | Size (100% ⇒ $500 Million): 2,456.00%
    Current Assets ÷ [2 x Current Liabilities]: 129.20%
    Net Current Assets ÷ Long Term Debt: 180.20%
    Earnings Stability (100% ⇒ 10 Years): 100.00%
    Dividend Record (100% ⇒ 20 Years): 100.00%
    Earnings Growth (100% ⇒ 30% Growth): 159.47%
    Graham Number ÷ Previous Close: 38.95%

    Note: Stocks failing Graham's rules are not necessarily bad investments. They may fall under Graham's "special situations" category. Graham's rules are also extremely selective.
    Jun 8, 2015. 11:23 AM | Likes Like |Link to Comment
  • Teradata Corporation Is A Great Company At A Fair Price [View article]
    The ModernGraham website cites the following formula as one of the Graham methods applied:
    Intrinsic Value = EPS x (8.5 + 2xGrowth)

    Benjamin Graham actually gave several warnings with this formula and only mentioned it briefly to demonstrate why the market's growth rate expectations are rarely justified. But due to an omission in recent editions of The Intelligent Investor, this formula is often mistakenly used today instead of Graham's actual (and more thorough) methods of stock valuation.

    Article: Understanding The Benjamin Graham Formula Correctly (http://seekingalpha.co...) discusses the issue in detail.

    Another rule mentioned in the above article is:
    "Adequate Size of Enterprise - market capitalization of at least $2 billion"

    Graham actually recommended "Not less than $100 million of annual sales" for this rule. Checking for Market Capitalization instead of Sales will - all else being equal - rate overvalued stocks better than undervalued ones.

    Graham's first recommended strategy - for casual investors - was to invest in Index stocks.
    For more serious investors, Graham recommended three different categories of stocks - Defensive, Enterprising and NCAV - and 17 qualitative and quantitative rules for identifying them.
    For advanced investors, Graham described various special situations or "workouts".

    For example, given below are the actual Graham ratings for Teradata Corp (TDC), with no adjustments other than those for inflation.

    Defensive Graham investment requires that all ratings be 100% or more.
    Enterprising Graham investment requires minimum ratings of - N/A, 75%, 90%, 50%, 5%, N/A and 137%.

    Teradata Corp - Graham Ratings
    Sales | Size (100% ⇒ $500 Million): 546.00%
    Current Assets ÷ [2 x Current Liabilities]: 78.99%
    Net Current Assets ÷ Long Term Debt: 295.90%
    Earnings Stability (100% ⇒ 10 Years): 100.00%
    Dividend Record (100% ⇒ 20 Years): 0.00%
    Earnings Growth (100% ⇒ 30% Growth): 166.40%
    Graham Number ÷ Previous Close: 63.55%

    Note: Stocks failing Graham's rules are not necessarily bad investments. They may fall under Graham's "special situations" category. Graham's rules are also extremely selective.
    Jun 8, 2015. 11:13 AM | 2 Likes Like |Link to Comment
  • Is Warren Buffett A Value Investor? [View article]
    Thank you for your comment, Albertasunwapta!

    The same lines have been quoted in the article as well; including the reference to the 1992 letter.

    Growth is undoubtably an important factor in Buffett's investments, and that's because growth is an important factor in Value Investing as originally taught by Benjamin Graham.
    Jun 8, 2015. 11:02 AM | Likes Like |Link to Comment
  • Is Warren Buffett A Value Investor? [View article]
    Thank you, ArtfulDodger.
    It was a pleasure having this discussion with you.

    Each of Graham's strategies was designed for a different type of investor; varying by experience, commitment and mentality (in Graham's own words).

    That's the reason all the "Superinvestor" portfolios look different on the surface, as Buffett explains.

    Graham's various strategies are discussed in "How To Build A Complete Benjamin Graham Portfolio" (http://seekingalpha.co...).

    Best wishes to you too!
    Jun 7, 2015. 12:38 PM | 1 Like Like |Link to Comment
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