What Do Benjamin Graham and Thoroughbred Horseracing Have in Common? Warren Buffett
When reading Warren Buffett’s authorized biography, The Snowball: Warren Buffett and the Business of Life, several years ago, I was surprised to learn that the world’s most famous investor is an avid, life-long horseracing handicapper. In hindsight, I shouldn’t have been. As it happens, the process behind picking a winner – when dealing with either investments or thoroughbreds – is strikingly similar. At the tender age of 13, Buffett ran two paper routes and published a hors
