Benjamin Graham: Security In An Insecure World Pt. 2

This is part two of a three-part series on Benjamin Graham’s famous speech and presentation, Security In An Insecure World, as published on November 15, 1963. [From The Achieves] Benjamin Graham: Security In An Insecure World Pt. 1 Benjamin Graham: Security in an insecure world pt. 2 [Continued from part one(link)] … Benjamin Graham then goes on to note that government initiatives in the late 40s, designed to prevent major economic downturns, provided: “…insurance against a very severe falling off in the earnings of corporations generally…” Which: “…justify a higher valuation of these earnings than in former years. Hence we…