Defensive Investing Explained in Under a Minute
Defensive investing explained in under a minute. The investor who looks serious is not the one the scoreboard likes. Benjamin Graham's defensive investor holds a fixed split between owning and lending and nudges it back into line about twice a year. This is an explainer, not financial advice. SOURCES - About nine in ten actively managed US large cap funds trailed the S&P 500 over a twenty year horizon: S&P Dow Jones Indices, SPIVA U.S. Scorecard, https://www.spglobal.com/spdji/en/spiva/article/spiva-us/ - The defensive investor and the standard fifty fifty division between common stocks and high grade bonds: Benjamin Graham, The Intelligent Investor, revised edition, chapter 4. The full breakdown, Defensive Investing Explained, is on the channel. The Intelligent Investor, episode five.
About Benjamin Graham
Benjamin Graham (; né Grossbaum; May 9, 1894 – September 21, 1976) was an English-American financial analyst, economist, accountant, investor and professor. He is widely known as the "father of value investing", and wrote two of the discipline's founding texts: Security Analysis (1934) with David Dodd, and The Intelligent Investor (1949). His investment philosophy stressed independent thinking, emotional detachment, and careful security analysis, emphasizing the importance of distinguishing the ...
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