Warren Buffett’s 1984 essay "The Superinvestors of Graham-and-Doddsville"

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Warren Buffett’s 1984 essay "The Superinvestors of Graham-and-Doddsville" is a landmark piece arguing for the effectiveness of value investing by showcasing the long-term success of several Graham-trained investors as evidence against market efficiency.

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Statements (44)

Predicate Object
instanceOf essay ⓘ
financial essay ⓘ
arguesAgainst efficient market hypothesis ⓘ
associatedWith Columbia Business School value investing tradition ⓘ
Graham-and-Dodd school of investing ⓘ
author Warren Buffett ⓘ
basedOnIdeasOf Benjamin Graham ⓘ
David Dodd ⓘ
centralClaim A group of value investors with a common intellectual origin has outperformed the market over long periods ⓘ
Such persistent outperformance is unlikely to be due to chance if markets are fully efficient ⓘ
conclusion Market prices are not always efficient ⓘ
Value investing can systematically beat the market ⓘ
critiques random walk theory of stock prices ⓘ
strong forms of the efficient market hypothesis ⓘ
emphasizes buying stocks below intrinsic value ⓘ
concentrated portfolios ⓘ
fundamental analysis of businesses ⓘ
independent thinking in investing ⓘ
long-term investment horizon ⓘ
margin of safety ⓘ
illustratesWith Buffett’s own investment record ⓘ
investment record of Walter Schloss ⓘ
investment record of other Graham disciples ⓘ
investment record of the Sequoia Fund ⓘ
influenced debate on efficient markets in academic finance ⓘ
value investing community ⓘ
language English ⓘ
mainSubject investment performance ⓘ
market efficiency ⓘ
value investing ⓘ
notableFor defense of Graham-style value investing ⓘ
empirical challenge to market efficiency ⓘ
use of real-world track records instead of theoretical models ⓘ
oftenCitedIn critiques of the efficient market hypothesis ⓘ
value investing literature ⓘ
publicationYear 1984 ⓘ
supportsTheory value investing is effective ⓘ
targetAudience finance academics ⓘ
investors ⓘ
students of investing ⓘ
titleReferences Graham-and-Dodd value investing school ⓘ
Security Analysis ⓘ
usesEvidenceFrom long-term investment performance data ⓘ
track records of Graham-trained investors ⓘ

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Walter Schloss → mentionedIn → Warren Buffett’s 1984 essay "The Superinvestors of Graham-and-Doddsville" ⓘ