![]() ![]() ![]() These principles enabled her to thrive in the unforgiving and male-dominated markets of the Gilded Age. These include thrift, skepticism, persistence, patience, and a natural aversion to leverage. ![]() This paper recounts the life of Hetty Green, isolating several of her key operating principles. In contrast, Graham embraced value investing only after narrowly avoiding financial ruin after levering his portfolio prior to the Great Crash of 1929. Further, Green developed these principles instinctively at an early age, enabling her to thrive during several market panics that ruined many of her male contemporaries. Before Graham was even born, a woman by the name of Hetty Green applied these principles to tame the wild markets of the Gilded Age and establish herself as the richest woman in America. However, contrary to conventional wisdom, Graham was not the first American to pioneer the principles of value investing. Famed investor Benjamin Graham, author of the bestselling books, Securities Analysis and The Intelligent Investor, is almost universally regarded as the founder of value investing. ![]()
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