Where Would Late Great Stock Guru Ben Graham Invest?

Where Would Late Great Stock Guru Ben Graham Invest? by John Dorfman, Dorfman Value Investments

If Ben Graham were alive to see today’s pricey stock market, what would he buy?

Every year, I try to pay homage to the man widely considered the father of value investing. Graham was a professor, bon vivant, hedge fund manager, and the author of books such as “The Intelligent Investor.” Each August, I try to figure out what he would buy if he were alive.

The column you’re reading represents my 14th such attempt. Of the first 13 columns, 11 beat the Standard & Poor’s 500 Index, and 10 were profitable.

The average 12-month return on my “Graham” selections has been 22.2 percent, compared to...