Benjamin Graham GEICO Buy Was Just A Simple Value Play

Was Ben Graham’s big purchase of GEICO shares actually a value investment? Perhaps it was contrary to what many believe. “In 1948, we made our GEICO investment and from then on, we seemed to be very brilliant people.” — Benjamin Graham, 1976 Both Benjamin Graham and Warren Buffett can attribute a large part of their success to GEICO. Both Graham and Buffett dived into GEICO shares, making the insurer the biggest holding in their portfolios at various points in their careers, and this risk paid off handsomely. Graham first became involved with GEICO shares in 1948. Graham initially didn’t want…