at the Institute for Aging Research at the Albert Einstein College of Medicine in the Bronx suggesting that his father would “ remain forever young .” “ Irving ’ s not dead ,” the doctor said , “ because we have his cells and his DNA , and they ’ re working every day in our laboratory .”
James Russell Kelly is the Director of Fordham University ’ s Gabelli Center for Global Security Analysis and a Senior Lecturer in Finance .
Courtesy of Andrew Kahn
Three generations of Kahns , 2012 . Clockwise from back left : Thomas , Andrew and Irving Kahn .
on determining the intrinsic value of a company through rigorous fundamental research . Kahn was a contrarian who searched for out-of-favor , undervalued stocks trading with a large margin of safety to their intrinsic value . He was also a very patient long-term investor .
Both men also shared a common bond : they were both intellectuals who were more interested in being correct in their analysis than in the monetary reward .
Kahn Brothers ( 1978 – Present )
Kahn Brothers is both a registered investment advisor and a broker-dealer offering investment advisory and management services , primarily to wealthy individuals . Irving Kahn was actively involved in the firm as chairman , and then as chairman emeritus , until his passing in 2015 . As president , his son , Thomas Graham Kahn , manages the company and client portfolios in the tradition of his father and Graham . He is assisted by his own son , Andrew , who is vice president of the company .
Graham ’ s legacy is physically present in the company ’ s offices in the form of his original desk , which Tom describes as a rather utilitarian , L-shaped desk with many small drawers . While lacking in grandeur , the desk is rich in tradition .
100th Anniversary Celebration ( 2005 )
Kahn turned 100 on December 19 , 2005 . The New York Society of Security Analysts ( NYSSA ) honored him , as one of its founding members , by inviting his family members , friends , colleagues and many preeminent value investors including Jean-Marie Eveillard , Mario Gabelli , Chuck Royce , Walter Schloss and Marty Whitman , to celebrate his birthday and share stories . The dinner ’ s proceeds established the NYSSA Value Investing Archive , which replaced the library that was lost on 9 / 11 . Louis Lowenstein , the Simon H . Rifkind Professor of Finance and Law at Columbia University , gave the keynote address , describing Kahn as a “ model of wisdom and sanity ,” a figure epitomizing “ the very concept of value investing .”
Value Investor for the Ages
In Kahn ’ s obituary in The New York Times , his son Tom stated that “ studies of centenarians , including [ Kahn ]… conclude that the secret to longevity is a mix of DNA , healthy living and luck . My father smoked until he was 50 , and he didn ’ t watch what he ate . So , the preponderance in his case was DNA and luck .”
Shortly after his father ’ s death , Tom received an email from Dr . Nir Barzilai
Courtesy of Andrew Kahn
Sources “ NYSSA Honors Irving Kahn .” NYSSA News .
Feb . 2006 . “ The 100-Year-Old On Wall Street .” Morning
Edition . National Public Radio . Feb . 1 , 2006 .
Bartlett , Mark . “ A Visit With Irving Kahn .” The New York Society Library , Library Notes . March 1 , 2008 . https :// www . nysoclib . org / about / visit-irving-kahn .
CFA Society New York . “ History .” 2021 . https :// www . cfany . org / about .
Chan , Ronald . The Value Investors : Lessons from the World ’ s Top Fund Managers . Singapore : John Wiley & Sons Singapore Pte . Ltd .
Cipiur , Jan . “ The Patriarch of Wall Street — energetic advocate of prudence .” Obserwator Financowy . Dec . 1 , 2013 .
Graham , Benjamin . Storage and Stability : A Modern Ever-Normal Granary . Philadelphia : McGraw-Hill . 1997 .
Grother , Christina . “ Behind the Scenes , Ahead of his Time .” CFA Magazine . Jan – Feb 2006 .
Kahn , Irving , and Robert Milne . “ Benjamin Graham , the Father of Financial Analysis .” Financial Analysts Research Foundation 5 . 1977 .
Kahn , Irving . “ Early Days at the Financial Analysts Journal .” Financial Analysts Journal 61.2 : 6 – 7 . 2005 .
Kahn , Irving . Foreword to Storage and Stability : A Modern Ever-Normal Granary by Benjamin Graham . Philadelphia : McGraw- Hill . 1997 .
Kahn , Irving . Video interview with Richard Sylla , Chairman of the Museum of American Finance . 2006 .
Kahn , Thomas Graham , and Andrew Kahn . Interview with James Russell Kelly . Feb . 16 , 2021 .
Roberts , Sam . “ Irving Kahn , Oldest Active Wall Street Investor , Dies at 109 .” The New York Times . Feb . 26 , 2015 .
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