How to Think Like Benjamin Graham and Invest Like Warren Buffett

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243 Conclusion: The V Culture R eaders with an arbitrage orientation may regret that the exem- plars of great modern CEOs covere ...

244 InManagersWeTrust ence. Its approach to finance is the most promising, for it recognizes the first branch of intelligent inv ...

245 Notes Chapter 1 1.Benjamin Graham,The Intelligent Investor(1st ed. 1949; 4th rev. ed. Harper & Row, 1973), 108. 2.Fred S ...

246 Notes 2.Louis Bachelier, “Theory of Speculation,” reprinted inThe Random Character of Stock Market Prices, Paul H. Cootner, ...

Notes 247 2.H. E. Hurst, “Long-Term Storage Capacities of Reservoirs,”Transactions of the American Society of Civil Engineers, v ...

248 Notes 5.SEC v. Remington-Hall Capital Corp. &Douglas T. Fonteno, SEC Litigation Release No. 15943, October 22, 1998. 6.A ...

Notes 249 Smith, “Instinet, Date kRecently Held Merger Tal ks,”The Wall Street Journal, March 3, 2000. 21.Thomas Kalinke, “Sleep ...

250 Notes 13.Edwin LeFe`vre,Reminiscences of a Stock Operator(1st ed. 1923; rev. ed. John Wiley & Sons, 1994). 14.Graham,Int ...

Notes 251 9.Graham,Intelligent Investor,286. 10.Buffett and Cunningham,Essays, 99. 11.The psychology literature calls the resist ...

252 Notes 12.John Burr Williams,The Theory of Investment Value(1st ed. 1938; rev. ed. Fra- ser, 1997). 13.Robert Shiller,Irratio ...

Notes 253 Lessons for Corporate America(The Cunningham Group, 1997), 147. 4.For additional analysis and sources, consult Lawrenc ...

254 Notes 2.John A. Byrnes, “The Blame When the Boss Fails,”Business Week, December 27, 1999. 3.Consult Kevin Murphy, “Corporate ...

Notes 255 (this is one of Berkshire Hathaway’s famous “Owner Related Business Prin- ciples”). 3.This discussion draws on the ann ...

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257 Index Adirondac kTrading Partners, 187 Alabama National, 106 AlliedSignal, 179–180, 205–206, 214, 223 Amazon.com, 115–116, 1 ...

258 CompanyIndex Evening Exchange, 62 Exxon-Mobil, 106, 146 Fabri-Centers, 164–165 Federal Express, 106, 177 Federal Reserve Boa ...

CompanyIndex 259 Oracle, 211 Osaka Securities Exchange, 187 PaineWebber, 185, 187 PairGain Technologies, 57 Palm, 211 Papa John’ ...

260 NAME INDEX Alexander, Sidney, 21 Ammer, John, 49 Aristotle, 49 Arrow, Kenneth, 26 Astor, Lady, 208–209 Bachelier, Louis, 17– ...

NameIndex 261 Kendall, Maurice, 18 Keough, Donald, 235 Keynes, John Maynard, 11, 13, 25, 26, 87–88 Klatsky, Bruce, 177 Knapp, To ...