Graham died back when stocks were traded by guys shouting orders from a pit. High frequency trading was decades away, as was Wall Street's push for: - creative

Graham died back when stocks were traded by guys shouting orders from a pit. High frequency trading was decades away, as was Wall Street's push for: - creative accounting (Enron, Worldcom) - zero-interest rate policy - SPAC IPOs - exotic securitization (credit default swaps) ...that made valuation more opaque over time. The age of value investing is long gone.