Irving Kahn
Encyclopedia
Irving Kahn is an American
value investor
and money manager and the oldest living investment professional. He was an early disciple of Benjamin Graham
, the creator of the value investing
methodology. Kahn began his career in 1928 and continues to work to this day at the age of . He is currently Chairman of Kahn Brothers Group, Inc., the privately owned investment advisory
and broker-dealer
firm that he founded with his sons, Thomas and Alan, in 1978. Although Kahn still performs an active role at the company, Thomas, who is the firm's president, runs the business and is responsible for the firm's investment decisions.
Kahn Brothers Group's principals manage a little over $700 million in funds for the clients of its subsidiaries and affiliated businesses. The company's primary investment advisory business has $449 million in equities under management according to the Form 13-F filed with the SEC on November 9, 2011.
Kahn is currently the oldest active money manager on Wall Street. He made his first trade—a short sale—in the summer of 1929, months before the infamous market crash
in October of that year. In addition, he, his sister, and his brother are, collectively, the world's oldest living siblings. Kahn himself is . His sister, Helen (nicknamed "Happy"), died in 2011, a few weeks before her 110th birthday. The youngest sibling, Peter, is . Kahn's other sister, Lee, died in 2005 at the age of 102.
, Kahn served as the second teaching assistant to Benjamin Graham
at Columbia Business School
. At the time, other notable students and/or teaching assistants to Graham
included future Berkshire Hathaway
chairman Warren Buffett
and future value investor
s William J. Ruane
, Walter J. Schloss
, and Charles Brandes
, among others. Graham had such an enormous influence on his students that both Kahn and Buffett named their sons after him. Kahn named his third son, born in 1942, Thomas Graham, and Buffett, his second son, born in 1954, Howard Graham.
Kahn is a Chartered Financial Analyst
and was among the first round of applicants to take the CFA exam. Further, he was a founding member of the New York Society of Security Analysts
and the Financial Analysts' Journal
. Kahn was also a former director of Teleregister Corp., Hugo Stinnes Co.
, Grand Union Stores
, Kings County Lighting, West Chemical, and Willcox & Gibbs
. He was the president of the New York City Job and Career Center and is a trustee emeritus of the Jewish Foundation for Education of Women.
In a magazine article, in 2002, he is quoted as saying: "I'm at the stage in life where I get a lot of pleasure out of finding a cheap stock," adding that his research still pushes him to work evenings and weekends. His son Thomas, currently President of Kahn Brothers Group, has said, "My father continues to research ideas and talk to companies. One of the nice things about this business is that there's no mandatory retirement age, and you allegedly get wiser as you get older."
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
value investor
Value investing
Value investing is an investment paradigm that derives from the ideas on investment and speculation that Ben Graham and David Dodd began teaching at Columbia Business School in 1928 and subsequently developed in their 1934 text Security Analysis...
and money manager and the oldest living investment professional. He was an early disciple of Benjamin Graham
Benjamin Graham
Benjamin Graham was an American economist and professional investor. Graham is considered the first proponent of value investing, an investment approach he began teaching at Columbia Business School in 1928 and subsequently refined with David Dodd through various editions of their famous book...
, the creator of the value investing
Value investing
Value investing is an investment paradigm that derives from the ideas on investment and speculation that Ben Graham and David Dodd began teaching at Columbia Business School in 1928 and subsequently developed in their 1934 text Security Analysis...
methodology. Kahn began his career in 1928 and continues to work to this day at the age of . He is currently Chairman of Kahn Brothers Group, Inc., the privately owned investment advisory
Investment Advisor
The term Investment Advisor is an individual or firm who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities...
and broker-dealer
Broker-dealer
A broker-dealer is a term used in United States financial services regulations. It is a natural person, a company or other organization that trades securities for its own account or on behalf of its customers....
firm that he founded with his sons, Thomas and Alan, in 1978. Although Kahn still performs an active role at the company, Thomas, who is the firm's president, runs the business and is responsible for the firm's investment decisions.
Kahn Brothers Group's principals manage a little over $700 million in funds for the clients of its subsidiaries and affiliated businesses. The company's primary investment advisory business has $449 million in equities under management according to the Form 13-F filed with the SEC on November 9, 2011.
Kahn is currently the oldest active money manager on Wall Street. He made his first trade—a short sale—in the summer of 1929, months before the infamous market crash
Wall Street Crash of 1929
The Wall Street Crash of 1929 , also known as the Great Crash, and the Stock Market Crash of 1929, was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and duration of its fallout...
in October of that year. In addition, he, his sister, and his brother are, collectively, the world's oldest living siblings. Kahn himself is . His sister, Helen (nicknamed "Happy"), died in 2011, a few weeks before her 110th birthday. The youngest sibling, Peter, is . Kahn's other sister, Lee, died in 2005 at the age of 102.
Biographical information
Educated at the City College of New YorkCity College of New York
The City College of the City University of New York is a senior college of the City University of New York , in New York City. It is also the oldest of the City University's twenty-three institutions of higher learning...
, Kahn served as the second teaching assistant to Benjamin Graham
Benjamin Graham
Benjamin Graham was an American economist and professional investor. Graham is considered the first proponent of value investing, an investment approach he began teaching at Columbia Business School in 1928 and subsequently refined with David Dodd through various editions of their famous book...
at Columbia Business School
Columbia Business School
Columbia Business School is the business school of Columbia University in Manhattan, New York City. It was established in 1916 to provide business training and professional preparation for undergraduate and graduate Columbia University students...
. At the time, other notable students and/or teaching assistants to Graham
Benjamin Graham
Benjamin Graham was an American economist and professional investor. Graham is considered the first proponent of value investing, an investment approach he began teaching at Columbia Business School in 1928 and subsequently refined with David Dodd through various editions of their famous book...
included future Berkshire Hathaway
Berkshire Hathaway
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States, that oversees and manages a number of subsidiary companies. The company averaged an annual growth in book value of 20.3% to its shareholders for the last 44 years,...
chairman Warren Buffett
Warren Buffett
Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is...
and future value investor
Value investing
Value investing is an investment paradigm that derives from the ideas on investment and speculation that Ben Graham and David Dodd began teaching at Columbia Business School in 1928 and subsequently developed in their 1934 text Security Analysis...
s William J. Ruane
William J. Ruane
William J. Ruane was a Wall Street investment manager and philanthropist....
, Walter J. Schloss
Walter Schloss
Walter J. Schloss is a well-regarded value investor, as well as a notable disciple of the Benjamin Graham school of investing.-Biography:...
, and Charles Brandes
Charles Brandes
Charles H. Brandes is one of the more closely followed value investors working today, as well being a disciple of the Benjamin Graham school of value investing. Brandes Investment Partners, which was started in 1974, currently has over $52.9 billion under management and is based in San Diego,...
, among others. Graham had such an enormous influence on his students that both Kahn and Buffett named their sons after him. Kahn named his third son, born in 1942, Thomas Graham, and Buffett, his second son, born in 1954, Howard Graham.
Kahn is a Chartered Financial Analyst
Chartered Financial Analyst
The Chartered Financial Analyst Program is a graduate level self-study program offered by the CFA Institute to investment and financial professionals...
and was among the first round of applicants to take the CFA exam. Further, he was a founding member of the New York Society of Security Analysts
New York Society of Security Analysts
The New York Society of Security Analysts was established in 1937 by a group of financial professionals that included Benjamin Graham, a pioneer in the financial industry...
and the Financial Analysts' Journal
CFA Institute
CFA Institute is headquartered in the United States of America at Charlottesville, Virginia, with offices in Hong Kong and London. Formerly known as the Association for Investment Management and Research , CFA Institute awards the Chartered Financial Analyst designation...
. Kahn was also a former director of Teleregister Corp., Hugo Stinnes Co.
Hugo Stinnes
-Life and career:Stinnes was born in Mülheim, in the Ruhr Valley, North German Confederation. His father was also named Hugo, and his grandfather Matthias Stinnes had founded a modest enterprise in Mülheim....
, Grand Union Stores
Grand Union (stores)
Grand Union is a supermarket chain operated by C&S Wholesale Grocers of Brattleboro, Vermont. Originally based in Elmwood Park, New Jersey , the company operated mostly in the northeastern United States but at times its reach extended into the Midwest, Southeast, and the Caribbean...
, Kings County Lighting, West Chemical, and Willcox & Gibbs
James Edward Allen Gibbs
James Edward Allen Gibbs was a farmer, inventor, and businessman from Rockbridge County in the Shenandoah Valley in Virginia. On June 2, 1857, he was awarded a patent for the first chain-stitch single-thread sewing machine. In partnership with James Willcox, Gibbs became a principal in Willcox &...
. He was the president of the New York City Job and Career Center and is a trustee emeritus of the Jewish Foundation for Education of Women.
In a magazine article, in 2002, he is quoted as saying: "I'm at the stage in life where I get a lot of pleasure out of finding a cheap stock," adding that his research still pushes him to work evenings and weekends. His son Thomas, currently President of Kahn Brothers Group, has said, "My father continues to research ideas and talk to companies. One of the nice things about this business is that there's no mandatory retirement age, and you allegedly get wiser as you get older."