Benjamin Graham’s 11 Rules For The Appraisal Of Common Stocks
Below is a carbon copy of Benjamin Graham’s lecture notes on his 11 rules for appraising stocks. You can find a copy of the original set of notes here, although they are essentially illegible. The original document misses off the final rule, number eleven, which is mentioned elsewhere. OUTLIER OF NOVEMBER 6TH LECTURE Benjamin Graham RULES FOR APPRAISAL OF COMMON STOCK FOR INVESTMENT PURPOSES Appraised Value is determined by (a) estimating the Earnings Power (b) applying the appropriate multiplier (c)…