3min chapter

We Study Billionaires - The Investor’s Podcast Network cover image

RWH019: Winning the Long Game w/ John Spears

We Study Billionaires - The Investor’s Podcast Network

CHAPTER

How Did It Affect Your Faith in Ben Graham?

The Paul Hardeman Company went out of business in the 1980s. The company's balance sheet showed it had no cash, buildings or accounts receivable. Ben Graham believed that by buying into companies like this you could have a margin of safety based on the price they were selling for. He says his father lost $50,000 when he invested with Tweety Brown.

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